BioAge Labs Faces Class Action Lawsuit Amid IPO Concerns

NEW YORK, Feb. 28, 2025 (GLOBE NEWSWIRE) -- A significant class action lawsuit has been initiated against BioAge Labs, Inc. (NASDAQ:BIOA) and several of its top executives, raising allegations of violations of federal securities laws.

This lawsuit, filed by the esteemed law firm Bleichmar Fonti & Auld LLP, aims to protect the rights of investors who engaged with BioAge Labs. If you are an investor in the company, you are urged to seek further information by visiting this link.

Investors have until March 10, 2025, to file for leadership in the ongoing legal case. The complaint brings forward claims under Sections 11 and 15 of the Securities Act of 1933 regarding individuals who bought stock linked to BioAge's registration statement during its initial public offering on September 26, 2024. The case is currently being addressed in the U.S. District Court for the Northern District of California, identified as Soto v. BioAge Labs, Inc., et al., No. 25-cv-196.

Understanding the Lawsuit Against BioAge Labs

BioAge Labs, Inc. is a biopharmaceutical firm that focuses on developing therapies for metabolic disorders, particularly addressing obesity. Their leading candidate, azelaprag, is designed as an oral medication to aid in weight loss.

In its IPO documents, BioAge talked about its STRIDES Phase 2 trial for azelaprag, which was conducted alongside GLP-1R agonists to improve weight loss outcomes. They claimed collaboration with Eli Lilly and Company to ensure a robust trial design and execution, along with anticipated results in Q3 2025.

However, the reality diverged starkly from these claims. The trial faced significant safety issues, leading to its abrupt discontinuation when elevated liver enzyme levels were discovered in trial subjects, indicating possible harm to the organs. This caused the company to stop the trial and halt new participant enrollment.

Impact of the Discontinuation on Stock Prices

The ramifications of this discontinuation became evident when BioAge announced on December 6, 2024, that safety concerns had forced them to end the STRIDES Phase 2 trial for azelaprag. They noted that the decision was clear due to the emerging safety profile associated with the tested doses. The company’s stock price suffered drastically, plummeting by more than 76%, dropping from a closing price of $20.09 per share to just $4.65 by December 9, 2024.

For further details, please visit this link.

Options for Affected Investors

Investors who purchased shares in BioAge may have legal recourse available to them. They are encouraged to provide their information to the law firm for potential legal representation.

All legal representation by Bleichmar Fonti & Auld LLP operates on a contingency fee basis, meaning there is no upfront cost to investors. Shareholders are not accountable for any court expenses or legal fees. Any fees or expenses will require court approval.

If you need assistance or more information, please visit this link.

About Bleichmar Fonti & Auld LLP

Bleichmar Fonti & Auld LLP is a renowned global law firm dedicated to representing plaintiffs in securities class actions and shareholder litigation. The firm was recognized among the Top 5 plaintiff law firms by ISS SCAS in 2023, and many of their attorneys have been acknowledged as Titans of the Plaintiffs' Bar by Law360.

The firm boasts a record of significant recoveries, including over $900 million from Tesla, Inc.'s Board of Directors and $420 million from Teva Pharmaceutical Industries Ltd. For more information about the firm or its attorneys, visit their website.

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