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Celina Jackson

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When Should Companies Disclose Drug Safety Risks?

March 3, 2026 | Posted by Jeff Lombard; Kim Zaneta; Celina Jackson; Topic(s): Clinical Trials; FDA; IPOs; SEC Disclosure; Trends and Insights

In re BioAge Labs, Inc., Securities Litigation, No. 25-cv-00196, 2025 WL 3038991 (N.D. Cal. Oct. 30, 2025)

Case Highlights

In October 2025, a federal district court dismissed securities claims against a biopharmaceutical company, BioAge Labs, Inc., arising from disclosures in connection with its initial public offering (“IPO”) concerning the safety of the company’s lead drug candidate, azelaprag, which was intended to facilitate weight loss by mimicking the physiological effects of exercise. The court held that the plaintiff failed to plausibly allege that BioAge’s IPO offering documents were misleading because they omitted discussion of a potential liver-related safety risk.

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