#USA #New York #Class Action #Levi & Korsinsky #BioAge Labs

Alert for BioAge Labs, Inc. Shareholders

BioAge Labs, Inc., trading on NASDAQ under the symbol BIOA, has become the center of a legal dispute that could impact its shareholders significantly. On January 14, 2025, the law firm Levi & Korsinsky, LLP announced a class action lawsuit aimed at recovering losses for investors who purchased BioAge stock around the time of its recent initial public offering (IPO), which occurred in September 2024.

What Happened?

According to Levi & Korsinsky, this legal action stems from allegations of securities fraud that affected investors adversely. This lawsuit is directed toward those who bought shares of BioAge stock linked to the registration statement filed during the IPO. The firm believes that BioAge's representation of its lead product candidate, azelaprag, misled investors into perceiving the company's financial health inaccurately.

On December 6, 2024, BioAge announced the sudden discontinuation of the STRIDES Phase 2 trial for azelaprag due to severe safety concerns highlighted by elevated liver transaminase levels in trial participants. Given the earlier optimism communicated during the IPO regarding azelaprag's potential benefits for obese patients on incretin drugs, the news left investors reeling. Following the announcement, BioAge's share price plummeted drastically from $20.09 per share to a mere $4.65 the next day, causing unprecedented losses for shareholders who relied on the company's projections.

What Investors Should Do

Levi & Korsinsky is urging affected investors to come forward. Those eligible to participate in the class action have a deadline of March 10, 2025, to request appointment as lead plaintiffs. Participation does not necessitate that investors take on the lead role; they could still benefit from possible financial recoveries without assuming such responsibilities.

The firm reassured potential participants that there will be no out-of-pocket costs or fees involved in joining the lawsuit. These provisions emphasize the commitment of Levi & Korsinsky to support the investors affected by BioAge's alleged misconduct and to secure compensation for their losses.

Why Choose Levi & Korsinsky?

Levi & Korsinsky boasts a solid track record spanning over two decades, retrieving hundreds of millions of dollars for shareholders wronged by securities fraud. With an impressive team of over 70 employees dedicated to securities litigation, the firm has been recognized repeatedly in ISS Securities Class Action Services' annual Top 50 Report, demonstrating its prowess in navigating complex cases and advocating fiercely for investor rights.

Potential members of the class action can obtain further information via a dedicated link provided by Levi & Korsinsky. For direct inquiries, they can reach out to Joseph E. Levi, Esq. through email or telephone, ensuring accessible communication for all concerned parties.

In Conclusion

The situation surrounding BioAge Labs serves as a potent reminder of the volatility in biotech investments and the critical nature of transparent disclosures from companies to their shareholders. Investors who feel they have been wronged are encouraged to take action promptly to ensure they are protected under the class action lawsuit against BioAge Labs, Inc. Full details and contacts for the law firm can be found on their official website.

As the legal proceedings unfold, all eyes will remain on BioAge and the outcomes of this significant class action, which underscores the importance of corporate accountability and investor protection.