BioAge Labs is a clinical-stage company developing BGE-102, an oral NLRP3 inhibitor for inflammation linked to obesity, heart risk and eye disease; it is not approved.
BioAge's case rests on BGE-102, a once-daily oral NLRP3 blocker that lowered hsCRP by a median 86% in Phase 1 with no serious adverse events. Topline data from QUELL-CV, a placebo-controlled Phase 2 in about 160 adults with obesity and raised inflammation, are due in the second half of 2026. That trial measures hsCRP, not heart outcomes, and cash of $381.3 million is expected to fund operations through 2029.
Thesis checklist
0 risks need attention
Why it is in this state
The evidence, what would weaken it and the source filing
Why it is in this state
The evidence, what would weaken it and the source filing
Why it is in this state
The evidence, what would weaken it and the source filing
Why it is in this state
The evidence, what would weaken it and the source filing
Next decision point
Tests: QUELL-CV confirms dose-dependent hsCRP lowering
Does BGE-102 lower hsCRP clearly and by dose versus placebo, with good safety?
Strong, inconclusive and weak outcomes
What to look for in the result and how each would move the checklist
Price and material events
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BioAge's QUELL-CV Phase 2 of oral NLRP3 inhibitor BGE-102 reports hsCRP data in 2H 2026; the DME Phase 2 has dosed its first patient
BGE-102's Phase 2 POC data in obesity will determine whether best-in-class IL-1β/IL-6 suppression translates into clinically meaningful weight loss
About this history: every entry shows when the Thesis moved and what it said. The reasoning behind each move (the evidence, the analysis and the source filing) and the earnings write-ups are part of a subscription.
Dates, trials and completed outcomes are open to everyone. What each upcoming milestone hinges on is part of a subscription.
Disease areas: Eye diseases, Obesity, diabetes and heart disease
Catalyst calendar · Upcoming FDA decisions · Thesis changes
Competitive landscape
16 peers tracked
Cash: Market-data provider estimate; measurement period unavailable.
Debt: Market-data provider estimate; a complete comparable filing balance is unavailable.
Quarterly burn: Estimated from trailing free cash flow; measurement period unavailable.
Net cash and estimated runway require verified matching measurement periods. Missing debt components are not assumed to be zero.
Runway: No underlying guidance available.