BioAge Leaders Touted Obesity Drug Before Safety Woes, Suit Says

BioAge Labs Inc. board members and top executives trumpeted an obesity drug candidate’s development in the run-up to the company’s IPO, only to halt its clinical trial on safety concerns, an investor alleges.

BioAge’s leaders are responsible for a 77% stock drop, an ensuing class action, and other harm to the company, Wenshuang Luo says in a derivative suit. He filed the complaint Monday in the US District Court for the Northern District of California.

The initial public offering “represented to the public that there were no safety concerns and the Company expected top line results and to meet its ...