BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased 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 ARE AN INVESTOR WHO SUFFERED A LOSS IN BIOAGE LABS, INC. (BIOA), CONTACT THE LAW OFFICES OF HOWARD G. SMITH TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT.
Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at howardsmith@howardsmithlaw.com, by telephone at (215) 638-4847 or visit our website at www.howardsmithlaw.com.
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 throughout the Class Period, 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.
Contact Us To Participate or Learn More:
If you purchased BioAge securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Law Offices of Howard G. Smith,
3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020,
Telephone: (215) 638-4847
Email: howardsmith@howardsmithlaw.com,
Visit our website at: www.howardsmithlaw.com.
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