BioAge Labs (NASDAQ: BIOA) is a clinical-stage biopharmaceutical company that discovers and develops drug candidates targeting the biology of aging. The company does not generate product revenue; it is pre-commercial and funds operations through capital markets. BioAge is headquartered in Emeryville, California, where it operates a research facility, with a majority of employees working remotely as of the 10-K filed March 24, 2026. The company recorded stock-based compensation expense of $11.7 million for the year ended December 31, 2025, compared to $7.0 million for the year ended December 31, 2024, reflecting headcount and program growth. As of December 31, 2025, there was $23.8 million of unrecognized stock-based compensation remaining. BioAge has never paid dividends on its common stock and has no plans to do so. CEO Kristen Fortney, Ph.D. serves as President and Director, alongside CFO Dov Goldstein, M.D. and COO Eric Morgen, M.D.

Revenue model

BioAge Labs is pre-revenue. The company has not commercialized any products and relies on capital markets financing to fund research and clinical operations. No product revenue, licensing revenue, or partnership payments are described in the filing excerpts.

Products and services

The company is developing drug candidates targeting aging biology. Specific product candidates, clinical stage, or therapeutic indications are not detailed in the available filing excerpts.

Customers and end markets

BioAge has no commercial customers as of the 10-K filed March 24, 2026. The end market is clinical-stage drug development targeting age-related conditions, with eventual patients and healthcare systems as downstream beneficiaries. No customer concentration data is disclosed.

Value-chain role

BioAge operates as a drug discoverer and clinical-stage developer. It relies on contract research organizations (CROs) and contract development and manufacturing organizations (CDMOs) for research execution and manufacturing, as disclosed in the 10-K filed March 24, 2026.

Geographic exposure

BioAge operates primarily in the United States, with its research facility in Emeryville, California. The filing references EU GDPR and UK GDPR compliance obligations, indicating some data processing exposure to European jurisdictions, but no international commercial operations are described.

Source: SEC 10-K, filed 2026-03-24

Industry: Pharmaceutical Preparations