A securities class action has been filed in the USDC – N.D.CA. against BioAge Labs, Inc. (BIOA) (“BioAge” or the “Company”) on behalf of all persons and entities who purchased or otherwise acquired BioAge stock pursuant and/or traceable to the registration statement for the initial public offering held on or about September 26, 2024.
BioAge introduced itself to investors during its initial public offering as a “clinicalstage biopharmaceutical company” that develops therapeutic product candidates for metabolic diseases, such as obesity, by targeting the biology of human aging. BioAge’s lead product candidate, azelaprag, is an orally available small molecule agonist of the apelin receptor APJ. Apelin is an exercise-induced signaling molecule (exerkine) that acts on APJ and has the potential to recapitulate the metabolic benefits of exercise.
The complaint alleges that the initial public offering represented to the public that there were no safety concerns and the Company expected top line results and to meet its primary endpoint goals in connection with its STRIDES clinical trial. Contrary to these representations, BioAge discontinued the ongoing STRIDES Phase 2 study of its investigational drug candidate azelaprag after several subjects showed elevated levels of liver enzymes warning of potential organ damage. As a result, Defendants discontinued the clinical trial and halted further enrollment. Given the fact that Defendants failure to disclose the potential for liver transaminitis in any of its previous clinical Phase 1 trials and various preclinical tox studies, Defendants’ statements in BioAge’s registration statement were false and/or materially misleading at the time of the initial public offering, thereby harming investors.
Following this news, BioAge’s stock price declined from $20.09 per share on December 6, 2024 to $4.65 per share on December 7, 2024.
If you purchased BioAge stock pursuant and/or traceable to the registration statement for the initial public offering held on or about September 26, 2024. and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.
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