BioAge Labs Inc. (NASDAQ:BIOA) stock plunged Friday after disappointing Phase 3 cardiovascular trial results from Novo Nordisk A/S (NYSE:NVO) sparked concerns about the potential of NLRP3-targeting therapies.
William Blair analyst Andy Hsieh said the results from Novo Nordisk’s ZEUS trial cast doubt on the link between large reductions in high-sensitivity C-reactive protein (hsCRP) and protection against major adverse cardiovascular events (MACE).
Novo Nordisk Trial Raises Questions For BioAge
Novo Nordisk said Friday that its experimental drug ziltivekimab failed to reduce the risk of major adverse cardiovascular events versus placebo in high-risk patients in the Phase 3 ZEUS trial.
Hsieh noted that Novo Nordisk did not disclose the numerical hsCRP reduction in the study. However, a previous Phase 2 trial showed that 15 mg of ziltivekimab reduced hsCRP by 88% after 12 weeks. He said that result was comparable to the reductions seen in BioAge’s Phase 1 trial of BGE-102 at once-daily doses of 60 mg and 120 mg.
BioAge’s lead candidate, BGE-102, is an NLRP3 inhibitor being developed for cardiovascular disease and retinal disorders, including diabetic macular edema.
The company dosed the first participant in its QUELL-CV Phase 2 proof-of-concept trial in June. Top-line data are expected in the second half of 2026. BioAge also plans to begin a Phase 1b/2a proof-of-concept study in diabetic macular edema in mid-2026, with results anticipated in mid-2027.
William Blair Maintains Cautious Stance
Following the ZEUS results, Hsieh said investors may remove BioAge’s NLRP3 opportunity from their valuation models.
“Despite plans to examine BGE-102 in ophthalmology indications, we believe the approach remains high risk and difficult to build an investment thesis around,” William Blair wrote in a note Friday.
The firm maintained its Market Perform rating on BioAge shares.
Neumora Shares Fall In Sympathy
Neumora Therapeutics Inc. (NASDAQ:NMRA) stock also traded lower after the ZEUS results. The company is developing NMRA-215, a central nervous system-penetrating NLRP3 inhibitor.
Neumora recently completed a 13-week repeat-dose rat toxicology study for NMRA-215 and plans to begin a first-in-human trial by the end of 2026.
BIOA Price Action: Bioage Labs shares were down 61.73% at $9.51 at the time of publication on Friday, according to Benzinga Pro data.
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