1. BioAge faces a class action lawsuit over alleged securities fraud. 2. The lawsuit is for investors affected since BioAge's IPO in September 2024. 3. BioAge's stock dropped from $20.09 to $4.65 after trial discontinuation news. 4. The company halted its Phase 2 trial for azelaprag due to safety concerns. 5. Investors have until March 10, 2025, to join the class action.
The significant stock price decline reflects severe investor distrust post-IPO. Past cases illustrate major stock drops correlating with fraud allegations.
The lawsuit's nature indicates serious potential financial implications for BIOA. Similar past instances led to drastic investor reactions and stock price adjustments.
Immediate concerns from the lawsuit and trial discontinuation will affect shares quickly. Historical cases show quick impacts from litigation announcements.
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:
BioAge Lawsuit Submission FormJoseph 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