BioAge Labs Inc., a clinical-stage biotechnology company, reported its second quarter 2025 financial results, highlighting a significant increase in research and development expenses. The expenses totaled $19.8 million for the quarter ended June 30, 2025, compared to $10.5 million for the same period in 2024. This $9.3 million increase was primarily driven by an $8.0 million rise in direct costs associated with licensing, discovery, and development activities for novel apelin receptor APJ agonist programs, as well as a $3.0 million increase in direct costs related to the BGE-102 program. The increase was partially offset by a $1.7 million reduction in azelaprag direct costs following the termination of its development in January 2025. As of June 30, 2025, BioAge held approximately $313.4 million in cash, cash equivalents, and marketable securities. The company estimates that its current financial resources will be sufficient to fund operations and capital expenses through 2029. BioAge continues its strategic collaboration with Lilly ExploR&D, initiated in January 2025, focusing on the development of therapeutic antibodies targeting novel metabolic aging targets identified via BioAge's discovery platform. The company is also advancing its BGE-102 program, with a Phase 1 initiation planned for the second half of 2025 and initial data expected by year-end. Additionally, it has expanded its APJ agonist pipeline through an option agreement for a novel antibody and advancement of proprietary oral small molecules.