Analyst Michael Ulz of Morgan Stanley maintained a Sell rating on BioAge Labs, Inc. (BIOA – Research Report), retaining the price target of $5.00.
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Michael Ulz has given his Sell rating due to a combination of factors impacting BioAge Labs, Inc. One of the primary concerns is the recent setback with their lead program, azelaprag, which was discontinued due to safety issues related to liver transaminitis. This has shifted the company’s focus to advancing other pipeline projects, such as the NLRP3 inhibitor BGE-102, which is still in early-stage development and not expected to yield Phase 1 data until the second half of 2025.
Additionally, while BioAge Labs has ongoing collaborations with major pharmaceutical companies like Novartis and Lilly, these are still in the discovery phase and have not yet resulted in tangible outcomes. Financially, the company reported a significant net loss and a decrease in cash reserves, although they expect current funds to sustain operations through 2029. These uncertainties and early-stage developments contribute to the cautious outlook and the Sell rating from Michael Ulz.