CV Applications are the Initial Focus Based on Significant De-risking for the NLRP3 Class, but the Expansion Into Vision and the Second Product Are Both Worth a Look. Initiating at BUY with a $40 PT.

研报英文原文证据摘录

CV Applications are the Initial Focus Based on Significant De-risking for the NLRP3 Class, but the Expansion Into Vision and the Second Product Are Both Worth a Look. Initiating at BUY with a $40 PT.

May 13, 2026 BIOAGE Labs, Inc.

(BIOA, Buy, $40 PT)

Thomas Shrader, PhD, CFA

CV Applications are the Initial Focus Based on Significant De-risking for (212) 527-3551 tshrader@btig.com

the NLRP3 Class, but the Expansion Into Vision and the Second Product Jinnie Kim, PhD

Are Both Worth a Look. Initiating at BUY with a $40 PT. (212) 882-2344 jinnie.kim@btig.com

Company DataBIOTECHNOLOGY WHAT YOU SHOULD KNOW: BioAge Labs is a clinical-stage biopharmaceutical Closing Price $18.19

company focused on treating disease related to human aging. BioAge mines human Price Target $40.00

datasets to identify proteins and genetic elements whose trajectories in early

Market Cap (M) $808.60 adulthood predict lifelong outcomes. The company reports a four-year cash runway

Shares Out (M) 44.45EQUITY with key catalysts for BGE-102 in 2H26 (POC in CV-disease and the key catalyst for

the stock) and for BGE-105 in mid-27. The backbone of the company is a decades- Avg Daily Vol-3 Months (M) 0.5

long longitudinal human biobank developed in partnership with multiple healthcare Revisions

groups that have collected biological samples (increasingly multi-omic as detection Previous Current

has evolved) in combination with patient outcomes. The fundamental thesis behind

Rating - Buy these efforts is that predictions and correlations from human records should be more

Price Target - $40.00RESEARCH informative than preclinical data - largely from mice. BioAge’s pipeline contains two

related programs focused on improving metabolism with an eye to weight loss and FY26E NI - (99.25)

systemic inflammation.