Jefferies cuts PT on BioAge after obesity drug trial halted

BioAge Labs

09/12/2024 10:51

** Shares of drug developer BioAge Labs  BIOA.O  down ~70%
to $6.13 premarket
    ** Brokerage Jefferies downgrades stock to "hold" from
"buy"; lowers PT to $7 from $42
    ** New PT represents a 65.2% downside to Friday's close of
$20.09
    ** Brokerage lowers PT on discontinuation of co's mid-stage
obesity drug trial due to liver safety concerns
    ** Brokerage expects significant "stock drop"
    ** Brokerage also lowers co's drug pipeline value to $200
mln from $300 mln
    ** As of last close, stock has fallen 10.7% YTD

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))