1. Levi & Korsinsky files class action for BioAge investors over alleged fraud. 2. Lawsuit follows BioAge's discontinuation of azelaprag trial due to safety concerns. 3. Stock plummeted from $20.09 to $4.65 following negative trial news.
The lawsuit indicates serious trust issues, negatively impacting investor confidence. Previous scandals have led to long-lasting stock declines in similar biotech situations.
The lawsuit represents a significant risk to share value, given the market's reaction to the trial's cancellation and pending class actions.
Ongoing litigation and damaged reputation may hinder BioAge's recovery for years. Past examples show that companies can suffer prolonged consequences from legal actions.
/PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in BioAge Labs, Inc. ("BioAge" or the "Company") (NASDAQ: BIOA) of a class action securities lawsuit.
The lawsuit seeks to recover losses on behalf of BioAge investors who were adversely affected by alleged securities fraud. This lawsuit is on behalf of all shareholders that purchased stock pursuant and/or traceable to BioAge's registration statement for the initial public offering held on or about September 26, 2024. Follow the link below to get more information and be contacted by a member of our team:
https://zlk.com/pslra-1/bioage-labs-inc-lawsuit-submission-form?prid=128384&wire=4
BIOA investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
According to the complaint, on December 6, 2024, BioAge announced that it would discontinue the ongoing STRIDES Phase 2 trial for azelaprag, its lead product candidate, citing safety concerns over elevated liver transaminase levels in participants. This came as a surprise because, at the time of its IPO less than three months earlier, BioAge highlighted azelaprag's potential in patients undergoing obesity therapy with incretin drugs. Following this news, BioAge's stock price declined from $20.09 per share on December 6, 2024 to $4.65 per share on December 7, 2024.
If you suffered a loss in BioAge during the relevant time frame, you have until March 10, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP