NEWTOWN, Pa., Jan. 8, 2025 /PRNewswire/ — Edelson Lechtzin LLP, a leading class action law firm, is investigating securities fraud claims on behalf of all investors of BioAge Labs, Inc. (NASDAQ: BIOA) who purchased stock pursuant and/or traceable to BioAge Labs’ registration statement issued in connection with the company’s initial public offering (the “IPO”) on September 26, 2024. To join this case, go HERE.
Investors who purchased BioLabs stock may move the U.S. District Court for the Northern of California to appoint them as a lead plaintiff, no later than March 10, 2025. Please contact Edelson Lechtzin LLP at 844-696-7492 ext. 1, or by e-mail at [email protected] to discuss your investment losses.
Background on BioAge Labs, Inc.
BioAge Labs, located in Richmond, California, is a clinical-stage biopharmaceutical company focused on developing therapeutic candidates for metabolic diseases.
The Securities Fraud Claims.
The Complaint alleges that the offering documents for the company’s IPO contained materially false and misleading statements. These documents indicated to the public that there were no safety concerns regarding BioAge Labs and that the company expected to achieve positive top-line results in the third quarter of 2025 while meeting its primary endpoint goals related to the STRIDES clinical trial.
BioAge Labs completed its IPO on September 27, 2024, selling 12.65 million shares at a price of $18 each. However, on December 6, 2024, BioAge Labs announced that it was discontinuing the Phase 2 STRIDES study of its investigational drug candidate, azelaprag. This decision was made after liver transaminitis was observed in some subjects receiving azelaprag. An analyst commented on the announcement, stating that it was surprising since liver toxicity had never been reported in the eight Phase 1 studies previously conducted by BioAge Labs.
On this news, the price of BioAge’s stock fell from $20.09 per share on December 6, 2024, to $4.65 per share on December 7, 2024, a decline of more than 76%.
For more information, please contact:
Marc H. Edelson, Esq.
Eric Lechtzin, Esq.
EDELSON LECHTZIN LLP
411 S. State Street, Suite N-300
Newtown, PA 18940
Phone: 844-696-7492 or 215-867-2399 ext. 1
Email: [email protected]
Email: [email protected]
Web: www.edelson-law.com
Edelson Lechtzin LLP is a leading class action law firm with offices in Pennsylvania and California. In addition to cases involving securities and investment fraud, our lawyers focus on class and collective litigation in cases alleging violations of the federal antitrust laws, employee benefit plans under ERISA, wage theft and unpaid overtime, consumer fraud, and catastrophic injuries.
This press release may be considered Attorney Advertising in some jurisdictions. No class has been certified in this case, so you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. Your ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
SOURCE Edelson Lechtzin LLP
