Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against BioAge Labs Inc., (BIOA)

NEW YORK, Jan. 08, 2025 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of all persons or entities who purchased or otherwise acquired BioAge Labs, Inc. (“BioAge” or the “Company”) (NASDAQ: BIOA) securities on BioAge Labs’ initial public offering (the “IPO”) held on September 26, 2024, inclusive (the “Class Period”). The lawsuit seeks to recover damages for the Company’s investors under the federal securities laws.

The Complaint alleges that Defendants made materially false and/or misleading information concerning its STRIDES Phase 2 clinical trial. The Complaint alleges that BioAge completed its initial public offering on September 27, 2024, selling 12.65 million shares at $18 per share, which included the exercise in full by the underwriters of their option to purchase 1.65 million additional shares. According to the Complaint, less than three months later, on December 6, 2024, BioAge announced that it would discontinue the ongoing STRIDES Phase 2 study of its investigational drug candidate azelaprag after liver transaminitis was observed in some subjects receiving azelapgrag. The Complaint further alleges that an analyst reported on the announcement, noting that the news was surprising that liver tox never appeared across eight Phase 1 studies conducted previously by BioAge. According to the Complaint, in response to the news, BioAge’s stock price declined from $20.09 per share on December 6, 2024 to $4.65 per share on December 7, 2024.

Investors who purchased or otherwise acquired shares of BioAge should contact the Firm prior to the March 10, 2025 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.