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BIOA.US
id: 1461
BioAge Labs (BIOA) Clinical Trial Misrepresentation Case
N.D. California
Court3:25-cv-00196
Case number09/26/2024
Class period Start01/07/2025
Class period End03/10/2025
Lead Plaintiff motion deadline- $BIOA investors filed a lawsuit against BioAge Labs for misleading shareholders about the safety and progress of their lead drug.
- On December 6, 2024, BioAge announced it had discontinued the STRIDES trial. Following this news, $BIOA dropped 76.85%.
Case Details:
Between September 26, 2024, and December 6, 2024, BioAge Labs highlighted the potential of Azelaprag, an orally available small molecule, to enhance weight loss when combined with Tirzepatide (GLP-1/GIP receptor agonist).
In its IPO documents and public statements, BioAge claimed Azelaprag had a clean safety profile based on Phase 1 clinical trials, showing no signs of liver toxicity in 227 patients. The company also emphasized its collaboration with Eli Lilly’s Chorus division for trial execution.
However, less than three months after its September 26, 2024, IPO, BioAge announced on December 6, 2024, that it would discontinue the STRIDES Phase 2 trial due to elevated liver enzyme levels in patients, raising concerns about potential organ damage.
The stock plunged by nearly 77% following the announcement.
Based on these events, $BIOA investors filed a lawsuit against BioAge Labs, accusing the company of the following:
- It misled investors about the safety of Azelaprag based on earlier trials.
- It failed to disclose the risk of liver toxicity during its IPO and related filings.
Investors believe BioAge misrepresented the safety of its lead drug, Azelaprag, and its clinical trial progress.
Case Status
Lead Plaintiff Submission
Alleged Offence
Misleading Statements,
Financial Misrepresentation,
Fraud,
Failure to Disclose
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
12/09/2024
Filing date
01/07/2025
Lead Plaintiff Deadline
03/10/2025