BioAge Labs Inc（BIOA.O）：ZEUS失败对NLRP3在ASCVD中的论点产生负面影响

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31 Jul 2026 09:11:43 ET │ 10 pages

BioAge Labs Inc (BIOA.O)

ZEUS Failure Readthroughs Negatively to the NLRP3 Thesis in ASCVD

CITI'S TAKE

BIOA shares are down this morning on the news the Novo's Ph3 ZEUS

testing ziltivekimab (anti-IL6) in patients with ASCVD, CKD, and

inflammation did not meet its primary endpoint of MACE reduction. Novo

confirmed ziltivekimab demonstrated target engagement and IL-6

inhibition, but the study reported an HR of 0.99, suggesting that there

was no separation of the ziltivekimab arm from placebo. This calls into

question whether IL-6/hsCRP reduction is a viable target in ASCVD, and

by extension is a blow to the NLRP3 thesis, which sits upstream of IL-6.

That said, we believe detailed ZEUS data will be important for fully

evaluating the mechanistic rationale for reduction of chronic

inflammation, which has been shown across multiple studies to be

correlated with cardiovascular benefit (see here, here [JACC, 9/29/25]). In

the meantime, we anticipate BIOA shares will remain pressured as

investors reassess the rationale for NLRP3 inhibition in ASCVD.

Buy / High Risk

Price (30 Jul 26 16:00)

US$24.85

Target price

US$52.00

Expected share price return

109.3%

Expected dividend yield

0.0%

Expected total return

109.3%

Market Cap

US$1,105M

Samantha Semenkow, Ph.D.AC

Geoff Meacham, Ph.D.

Benjamin E. Paluch,Ph.D.