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
elechtzin@edelson-law.com 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: medelson@edelson-law.com
Email: elechtzin@edelson-law.com
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.
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SOURCE Edelson Lechtzin LLP
