BFA Law announces that a class-action lawsuit has been filed against BioAge Labs, Inc. and encourages investors with losses to contact Investing.com
New York, New York–(Newsfile Corp. – January 10, 2025) – A leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against BioAge Labs, Inc. (NASDAQ: BIOA) and certain of its senior executives for possible violations of federal securities laws.
If you have invested in BioAge, we encourage you to do so you can get additional information by visiting https://www.bfalaw.com/cases-investigations/bioage-labs-inc.
Investors have until March 10, 2025 to ask the court to appoint them to manage the case. The complaint asserts claims under Sections 11 and 15 of the Securities Act of 1933 on behalf of investors who purchased shares pursuant to and/or the subsequent registration statement of BioAge for its initial public offering held on or about September 26, 2024 . The case is pending in the U.S. District Court for the Northern District of California and is titled Soto v. BioAge Labs, Inc., et al.number 25-cv-196.
Why is BioAge being sued under the federal securities laws?
BioAge Labs, Inc. is a clinical biopharmaceutical company specializing in the development of therapeutic products for metabolic diseases, with a primary focus on obesity. The Company’s lead product candidate, azelaprag, is an orally available small molecule apelin receptor (APJ) agonist designed to enhance weight loss.
As noted, BioAge’s IPO filings discussed its ongoing STRIDES Phase 2 trial of azelaprag in combination with GLP-1R agonists for enhanced weight loss. BioAge stated that it is collaborating with Eli Lilly and Company (NYSE:) (“Lilly”) regarding STRIDES, and that Lilly will advise and assist in all aspects of trial design and implementation. BioAge also said it expects heat results in the third quarter of 2025 and discussed the potential for a second phase clinical trial. As noted, BioAge’s statements conveyed to investors that there were no safety concerns and that the top results were expected to meet its primary endpoints.
True, BioAge was forced to stop the STRIDES Phase 2 trial after several subjects showed elevated levels of liver enzymes, indicating potential organ damage. Consequently, the Company terminated the examination and stopped further enrollment.
The stock drops as the truth is revealed
On December 6, 2024, BioAge announced that it had stopped its STRIDES Phase 2 trial of azelaprag, citing safety concerns, after hepatic transaminitis was observed in subjects receiving azelaprag. The company said the decision to stop the STRIDES trial of azelaprag “became clear” due to the “emerging safety profile of the currently tested doses[.]” This news caused BioAge’s stock price to drop more than 76%, from a closing price of $20.09 per share on December 6, 2024 to $4.65 per share on December 9, 2024.
Click here for more information: https://www.bfalaw.com/cases-investigations/bioage-labs-inc.
What can you do?
If you have invested in BioAge, you may have legal options and we encourage you to submit your information to the company.
All representation is on a contingency fee basis, at no cost to you. Shareholders are not responsible for any court costs or litigation expenses. The Company will seek court approval for all potential fees and costs.
Submit your information by visiting:
https://www.bfalaw.com/cases-investigations/bioage-labs-inc
Why Bleichmar Fonti & Auld LLP?
Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. ISS SCAS named it one of the Top 5 Law Firms for Plaintiffs in 2023, Thompson Reuters named its attorneys Titans of the Plaintiffs Bar, and Thompson Reuters SuperLawyers. Among its recent notable successes, BFA recovered over $900 million in value from Tesla (NASDAQ: ), Inc. board of directors, as well as $420 million from Teva Pharmaceutical (NYSE:) Ind. Ltd.
For more information about BFA and its attorneys, visit https://www.bfalaw.com.
https://www.bfalaw.com/cases-investigations/bioage-labs-inc
Advertising of lawyers. Past results do not guarantee future results.
To view the original version of this press release, visit https://www.newsfilecorp.com/release/236441
