Core Viewpoint - A class action lawsuit has been filed against BioAge Labs, Inc. for allegedly misleading investors regarding its lead drug candidate, azelaprag, in connection with its IPO held on September 26, 2024 [1][2]. Summary by Sections Allegations - The complaint states that prior to the IPO, BioAge promoted its lead product candidate azelaprag, linked to the STRIDES clinical trial, with expectations of topline results in 2025 [2]. - BioAge highlighted its collaboration with Lilly's Chorus clinical development organization for the STRIDES trial and discussed a potential second Phase 2 trial combining azelaprag and semaglutide for treating obesity in adults [2]. Discontinuation of Study - The STRIDES Phase 2 study of azelaprag was discontinued after subjects exhibited elevated liver enzyme levels, indicating potential organ damage [3]. - The complaint alleges that BioAge failed to disclose the risk of liver transaminitis from previous clinical trials and preclinical studies, rendering their statements in the registration statement false and misleading [3]. Stock Price Impact - Following the news of the study's discontinuation, BioAge's stock price plummeted from $20.09 per share on December 6, 2024, to $4.65 per share on December 9, 2024 [3]. - At the time of the lawsuit filing, BioAge's stock was trading around $5.82 per share, significantly below its IPO price of $18 per share [3].
Robbins LLP Encourages BIOA Shareholders with Large Losses to Seek Counsel in the BioAge Labs, Inc. Class Action