| COMPANY |
BioAge Labs, Inc. |
| COURT |
United States District Court for the Northern District of California |
| CASE NUMBER |
3:25-cv-00196 |
| JUDGE |
The Hon. Richard G. Seeborg |
| CLASS PERIOD |
Pursuant and/or traceable to IPO on or about September 26, 2024 |
| SECURITY TYPE |
Stock |
LEAD PLAINTIFF DEADLINE IS MARCH 10, 2025.
If you have suffered losses and would like to discuss your rights, please fill out this form or you may contact Jonathan Naji, Esq. at (484) 270-1453 or via e-mail at info@ktmc.com.
Case Background:
BioAge is a clinical-stage biopharmaceutical company specializing in the development of therapeutic products for metabolic diseases, with a primary focus on obesity. The company's lead product candidate, azelaprag, is an orally available small-molecule agonist of the apelin receptor, designed to enhance weight loss.
The Class Period begins on September 26, 2024, when BioAge filed its final prospectus for the company’s IPO, which was incorporated into the registration statement, and listed for sale 11 million shares of BioAge common stock at an offering price of $18 per share. BioAge’s final prospectus for the IPO represented the significance and benefits of azelaprag for the treatment of obesity in older adults. Specifically, BioAge touted azelaprag in connection with the company’s ongoing STRIDES Phase 2 trial and represented that there were no safety concerns and that BioAge expected top line results to meet its primary endpoint goals in connection with its STRIDES clinical trial.
On December 6, 2024, BioAge announced that the company discontinued its STRIDES Phase 2 trial for azelaprag, citing safety concerns, after liver transaminitis was observed in subjects receiving azelaprag. Specifically, BioAge stated that the decision to discontinue the STRIDES trial of azelaprag "became clear" due to "the emerging safety profile of the current doses tested[.]" On this news, the price of BioAge stock declined over 76%, from a closing price of $20.09 per share on December 6, 2024, to close at $4.65 per share on December 9, 2024.
The complaint alleges that, in the registration statement and prospectus issued in connection with BioAge’s IPO, Defendants made false and/or misleading statements and/or failed to disclose information pertinent to investors concerning BioAge’s STRIDES Phase 2 trial for azelaprag. Specifically, Defendants misrepresented and/or failed to disclose: (1) the potential for liver transaminitis in any of its previous clinical STRIDES Phase 1 trials and various preclinical tox studies; (2) that there were no safety concerns and that BioAge expected top line results and to meet its primary endpoint goals in connection with its STRIDES clinical trial; and (3) as a result, Defendants’ statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
What is a Lead Plaintiff?
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Filling out the online form above or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.