NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of purchasers of stock of BioAge Labs, Inc. (NASDAQ: BIOA) pursuant and/or traceable to BioAge’s initial public offering conducted on September 26, 2024 (the “IPO”). BioAge describes itself as a “clinical-stage biopharmaceutical company that develops therapeutic product candidates for metabolic diseases, such as obesity, by targeting the biology of human aging.”
For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.
The Allegations: Rosen Law Firm is Investigating the Allegations that BioAge Labs, Inc. (NASDAQ: BIOA) Misled Investors Regarding its Business Operations.
According to the lawsuit, defendants touted its lead product candidate azelaprag in connection with BioAge’s ongoing STRIDES clinical trial with expectations of topline results in 2025. Defendants also mentioned its collaboration with Eli Lilly and Company’s (“Lilly”) Chorus clinical development organization who would be advising and assisting on all aspects of the STRIDES trial design and execution. Defendants further discussed the potential for a second Phase 2 clinical trial combining azelaprag and semaglutide to treat obesity in individuals ages 18 years and older. Therefore, the IPO represented to the public that there were no safety concerns and BioAge 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 IPO. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against BioAge Labs, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by March 10, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Rosen Law Firm: Some law firms issuing releases about this matter do not actually litigate securities class actions. Rosen Law Firm does. Rosen Law Firm is a recognized leader in shareholder rights litigation, dedicated to helping shareholders recover losses, improving corporate governance structures, and holding company executives accountable for their wrongdoing. Since its inception, Rosen Law Firm has obtained over $1 billion for shareholders.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
Attorney Advertising. Prior results do not guarantee a similar outcome.
