BioAge Labs maintains a conservative capital structure with a debt-to-equity ratio of 0.01, supported by a robust current ratio of 24.76 as of 2026Q1.
BioAge Labs Inc. (BIOA) balance sheet — 4-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 |
|---|
| Total Current Assets | 330.31M | 286.79M | 357.1M | 25.31M | 28.03M |
| Cash & Short-Term Investments | 318.75M | 281.1M | 354.35M | 21.64M | 27.64M |
| Cash Only | 73.96M | 188.89M | 354.35M | 21.64M | 27.64M |
| Short-Term Investments | 244.78M | 92.21M | 0 | 0 | 0 |
| Accounts Receivable | 625K | 769K | 0 | 0 | 0 |
| Days Sales Outstanding | 23.07 | 31.2 | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - |
| Other Current Assets | 0 | 4.93M | 2.75M | 3.66M | 386K |
| Total Non-Current Assets | 66.62M | 8.1M | 1.13M | 618K | 399K |
| Property, Plant & Equipment | 2.58M | 3.75M | 791K | 518K | 374K |
| Fixed Asset Turnover | 2.96x | 2.40x | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 62.92M | 100K | 100K | 100K | 0 |
| Other Non-Current Assets | 1.42M | 4.25M | 240K | 0 | 25K |
| Total Assets | 396.93M | 294.89M | 358.23M | 25.92M | 28.43M |
| Asset Turnover | 0.03x | 0.03x | - | - | - |
| Asset Growth % | 11.61% | -17.68% | 1281.86% | -8.81% | - |
| Total Current Liabilities | 19.22M | 20.14M | 27.77M | 58.17M | 5.86M |
| Accounts Payable | 5.65M | 2.67M | 2M | 1.87M | 2.26M |
| Days Payables Outstanding | 23.77K | - | - | - | - |
| Short-Term Debt | 0 | 2.65M | 6M | 44.86M | 167K |
| Deferred Revenue (Current) | 23.81M | 5.75M | 7.83M | 3.31M | 0 |
| Other Current Liabilities | 0 | 525K | 417K | 1.39M | 24K |
| Current Ratio | 17.19x | 14.24x | 12.86x | 0.44x | 4.78x |
| Quick Ratio | 17.19x | 14.24x | 12.86x | 0.44x | 4.78x |
| Cash Conversion Cycle | -23.75K | - | - | - | - |
| Total Non-Current Liabilities | 2.8M | 2.7M | 7.33M | 141.15M | 135.13M |
| Long-Term Debt | 0 | 2.33M | 2.5M | 8.2M | 2.25M |
| Capital Lease Obligations | 4.55M | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 678K | 370K | 156K | 132.95M | 132.88M |
| Total Liabilities | 22.02M | 22.84M | 35.11M | 199.32M | 140.99M |
| Total Debt | 2.83M | 5.56M | 8.7M | 53.25M | 2.47M |
| Net Debt | -71.13M | -183.33M | -345.64M | 31.61M | -25.18M |
| Debt / Equity | 0.01x | 0.02x | 0.03x | - | - |
| Debt / EBITDA | -0.03x | - | - | - | - |
| Net Debt / EBITDA | 0.67x | - | - | - | - |
| Interest Coverage | -335.17x | -114.65x | -29.04x | -7.19x | -163.82x |
| Total Equity | 374.91M | 272.05M | 323.13M | -173.4M | -112.56M |
| Equity Growth % | 20.87% | -15.81% | 286.35% | -54.05% | - |
| Book Value per Share | 8.36 | 7.57 | 9.01 | -5.07 | -3.29 |
| Total Shareholders' Equity | 374.91M | 272.05M | 323.13M | -173.4M | -112.56M |
| Common Stock | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | -381.77M | -333.42M | -252.81M | -181.7M | -117.85M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -478K | 278K | 245K | 164K | 167K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
Quick answers to the most common questions about buying BIOA stock.
As of 2025, BioAge Labs Inc. (BIOA) had total assets of $294.9M including $286.8M in current assets.
BioAge Labs Inc. (BIOA) carries total debt of $5.6M, offset by $281.1M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
BioAge Labs Inc. (BIOA) has total shareholders' equity (book value) of $272.1M ($7.57 book value per share). Book value represents the net worth of the company belonging to common stock holders.
BioAge Labs Inc. (BIOA) reported a current ratio of 14.24x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.
Key Metrics
Top Statement Risk
Clinical Trial Funding Runway
Metrics are mathematically derived from official filings.
Capital Base Stabilizing Post-IPO
According to recent financial statements, BioAge Labs has transitioned from a negative equity position in 2024Q2 to a $379.1 million equity base by 2026Q1, reflecting the successful infusion of capital that has fundamentally altered the company's balance sheet trajectory from insolvency risk to operational stability.
The shift from negative equity to a robust capital position suggests that the company has successfully navigated its initial funding hurdles. Investors should monitor whether this capital base can sustain the current R&D burn rate without requiring further dilutive equity raises before reaching key clinical milestones.
Cash Runway Supports Clinical Development
Based on reported figures, the company maintains a current ratio of 24.76 as of 2026Q1, with $241.8 million in cash reserves, providing a significant liquidity buffer that appears sufficient to fund the ongoing Phase 2 trials for azelaprag over the near-to-medium term.
The high current ratio is characteristic of a pre-commercial biotech holding substantial cash reserves relative to its immediate liabilities. While this liquidity provides a comfortable cushion, the rapid depletion of cash through R&D activities warrants ongoing scrutiny of the company's burn rate relative to trial timelines.
Minimal Leverage Preserves Financial Flexibility
As indicated by the balance sheet data, BioAge Labs maintains a conservative debt-to-equity ratio of 0.01 as of 2026Q1, signaling that the company relies almost exclusively on equity financing rather than debt to fund its high-cost clinical development programs.
The minimal debt load suggests that the company is not burdened by interest obligations, which is prudent given the lack of recurring commercial revenue. This capital structure appears strategic, as it avoids the refinancing risks that would otherwise complicate the company's path toward clinical data readouts.
Accumulated Deficit Masks Operational Reality
Analysis of the equity section reveals an accumulated deficit of $355.7 million as of 2026Q1, which serves as a stark reminder that the company's current valuation is entirely predicated on future clinical success rather than historical value creation or retained earnings.
The persistent growth in the accumulated deficit highlights the significant capital intensity of the company's R&D-focused business model. Investors should interpret this figure as a measure of the 'cost of entry' into the obesity market, rather than a reflection of operational inefficiency.