According to the Complaint, BioAge Labs, Inc. is a clinical-stage biopharmaceutical company that develops therapeutic product candidates for metabolic diseases, such as obesity, by targeting the biology of human aging. BioAge’s lead product candidate, azelaprag, is an orally available small molecule agonist of the apelin receptor APJ. This lawsuit was filed against BioAge and ten of its Officers and Directors.

BioAge completed its initial public offering on September 27, 2024, selling 12.65 million shares at $18 per share. However, 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. 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.

The Complaint alleges that Plaintiff and the class bought BioAge stock in the initial public offering based on false and/or materially misleading information concerning its STRIDES Phase 2 clinical trial and that these investors sustained damages as a result thereof.