LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP, a leading national shareholder rights law firm, announces that a securities fraud class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired BioAge Labs, Inc. (“BioAge” or the “Company”) (NASDAQ: BIOA) common stock pursuant and/or traceable to the Registration Statement issued in connection with the Company’s September 2024 initial public offering (the “IPO” or the “Offering”). BioAge investors have until March 10, 2025 to file a lead plaintiff motion.
IF YOU SUFFERED A LOSS ON YOUR BIOAGE LABS, INC. (BIOA), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS
What Happened?
On or about September 2024, BioAge conducted its IPO, selling 12.65 million shares of stock for $18 per share.
On December 6, 2024, BioAge announced that it would discontinue the ongoing STRIDES Phase 2 study of its investigational drug candidate azelaprag after liver transaminitis was observed in some subjects receiving azelaprag.
On this news, BioAge’s stock price declined $15.44 or 76.85% per share, to close at $4.65 per share on December 9, 2024.
Investors have suffered significant losses since the IPO. At the time of filing, BioAge’s stock price traded at $5.82 per share, more than 67% below the IPO price.
What Is The Lawsuit About?
The complaint filed in this class action alleges that Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) the potential for liver transaminitis in any of its previous clinical Phase 1 trials and various preclinical tox studies; (2) potential safety concerns with the Company’s ongoing STRIDES clinical trial; (3) that, as a result, the Company overstated the likelihood the ongoing STRIDES study would be completed; (4) that, as a result, the Company overstated the potential of a second Phase 2 clinical trial combining azelaprag and semaglutide to treat obesity in individuals ages 18 years and older; and (5) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired BioAge securities pursuant and/or traceable to the IPO, you may move the Court no later than March 10, 2025 to request appointment as lead plaintiff in this putative class action lawsuit.
Contact Us To Participate or Learn More:
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Charles Linehan, Esq.,
Glancy Prongay & Murray LLP,
1925 Century Park East, Suite 2100,
Los Angeles California 90067
Email: shareholders@glancylaw.com
Telephone: 310-201-9150,
Toll-Free: 888-773-9224
Visit our website at www.glancylaw.com.
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If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
