BFA Law Files Class Action Lawsuit Against BioAge Labs, Inc.

New York, New York--(January 10, 2025) - The law firm Bleichmar Fonti & Auld LLP has announced the filing of a class action lawsuit against BioAge Labs, Inc. (NASDAQ: BIOA) and several of its senior executives, alleging potential violations of federal securities laws.

Investors who have suffered losses from their investments in BioAge are encouraged to seek more information by visiting this link.

Those interested in leading the case have until March 10, 2025, to petition the court. The legal complaint raises claims under Sections 11 and 15 of the Securities Act of 1933 on behalf of investors who bought shares associated with BioAge's initial public offering that occurred around September 26, 2024. The case is currently ongoing in the U.S. District Court for the Northern District of California, referenced as Soto v. BioAge Labs, Inc., et al., No. 25-cv-196.

Reason for the Lawsuit Against BioAge

BioAge Labs, Inc. operates as a clinical-stage biopharmaceutical company focused on creating treatments for metabolic diseases, primarily obesity. The company’s leading product, azelaprag, is a small-molecule agonist intended to assist with weight loss.

The lawsuit claims that BioAge's IPO documents provided optimistic narratives regarding the ongoing STRIDES Phase 2 trial of azelaprag, stating it was in collaboration with Eli Lilly and Company (NYSE: LLY) for the trial's design and execution. Furthermore, BioAge indicated that they would share topline results by the third quarter of 2025 and hinted at the possibility of starting another Phase 2 trial. Investors were led to believe that there were no significant safety concerns regarding the trial and that results would likely meet established goals.

However, reality struck when BioAge was compelled to discontinue the Phase 2 trial due to several participants showing elevated liver enzyme levels, suggesting potential harm to the liver. As a result, the company halted the trial and stopped further enrollment.

Impact on Stock Value

The stock plummeted following a December 6, 2024, announcement from BioAge regarding the termination of the STRIDES Phase 2 trial. The statement highlighted serious safety concerns, particularly the noted rise in liver transaminitis among participants receiving azelaprag. Consequently, the stock price fell dramatically by over 76%, dropping from a closing price of $20.09 per share prior to the announcement to just $4.65 by December 9, 2024.

For further details, interested parties can visit this link.

Options for Investors

If you have invested in BioAge and lost money, you may have legal recourse and are encouraged to submit your details to the firm. All legal representation will be provided on a contingency fee basis, meaning you will not have to pay any costs upfront. Shareholders will not be responsible for any court fees or litigation expenses. The firm will seek court approval for any associated fees.

To submit your information, visit this link.

For direct contact, you can reach out to:
Ross Shikowitz
Email: [email protected]
Phone: 212-789-3619

About Bleichmar Fonti & Auld LLP

Bleichmar Fonti & Auld LLP is recognized as a prominent international law firm that advocates for plaintiffs in securities class actions and shareholder litigation. It was ranked among the Top 5 plaintiff law firms by ISS SCAS in 2023, and its attorneys have received numerous accolades. Recently, the firm has successfully recovered significant amounts for its clients, including over $900 million from Tesla, Inc. (NASDAQ: TSLA) and $420 million from Teva Pharmaceutical Industries Ltd. (NYSE: TEVA).

For more about their services and achievements, visit their website.

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lawsuit, BioAge, investors