Stock Track | BioAge Labs Soars on Promising Obesity Drug and Successful IPO

Stock Track09-27

Shares of BioAge Labs Inc. (BIOA) continued their meteoric rise on Thursday, soaring 6.36% in pre-market trading after a blockbuster debut on the Nasdaq the previous day. The clinical-stage biopharmaceutical company's stock has captured the attention of investors eager to get in early on its promising lead product candidate, azelaprag.

On Wednesday, BioAge Labs' initial public offering (IPO) was met with overwhelming demand, with the stock skyrocketing 32% on its first trading day. The company raised $198 million by offering 11 million shares at $18 apiece, pricing above the expected range in a sign of strong interest from investors.

Azelaprag is an oral obesity treatment pill that mimics the activity of the apelin protein, which is secreted by the body after exercise. With the obesity drug market projected to become a $150 billion industry by the early 2030s as rates of obesity continue to climb worldwide, azelaprag holds immense promise as a potential blockbuster treatment.

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