Deep Value: cash covers more than 100% of the stock price

This company holds roughly $381M in cash and investments — more than its entire stock-market value, based on its latest quarterly filing. You're paying very little for the actual business. Sometimes that's a genuine bargain or a takeover target, sometimes it's cheap for a reason. Not a buy signal on its own — always ask why it's this cheap.

BioAge Labs

BIOA

Biotechnology · Healthcare

Exchange

NASDAQ

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Mixed

Cash Flow

Weak

Stability

Data not available

Valuation

Data not available

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Winston Score History

The full picture

BioAge Labs is a clinical-stage biotechnology company focused on developing drugs that target the biology of aging. Its goal is to create medicines that treat diseases common in older people, such as obesity and metabolic disorders, by studying what happens inside the body as it ages. The company's main customers are not yet consumers — it is still in the research and testing phase, working to get its drug candidates approved by regulators.

BioAge makes no meaningful product revenue yet. It funds its operations primarily through investor capital and partnerships, which is typical for early-stage biotech companies. The company is based in the United States and has a small market cap of around $300 million, reflecting its pre-commercial status. Its near-100% gross margin on minimal revenue signals research-stage accounting rather than a proven business model. The key risk is clinical failure — if its drug candidates do not succeed in trials, the company may struggle to survive without raising additional capital.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+1.6% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+3.3% YoY

YoY Growth Rate

Slow EPS growth

Insider Activity

15.9%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Runway

~5 years

$381M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

$381M cash & investments at current burn rate

Growth context

BioAge Labs is growing revenue at 2% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

100.0%

Premium pricing power — 100.0% gross margin

Profit after running costs

Operating Margin

-1196.8%

Losing money on operations — -1196.8%

Return on the money invested

ROCE

-28.3%

Weak — -28.3% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+168.1%

Fast-growing sales (+168.1% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-850.7%

Burning cash (-850.7%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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