BioAge Labs Raises $198M in Upsized IPO at $18 Midpoint for Obesity Drug Research

Sep 26, 2024, 03:40 AM

BioAge Labs, a weight-loss drug developer, has successfully raised $198 million through its upsized U.S. initial public offering (IPO), pricing its shares at the midpoint of $18 each. The company aims to use the funds to advance its anti-obesity drug research, particularly focusing on its muscle-building obesity drug candidate, azelaprag. The IPO was upsized again due to increased demand, reflecting investor confidence in BioAge Labs' pivot to obesity drug research.