BioAge Labs downgraded to Neutral from Buy at Citi

Citi downgraded BioAge Labs (BIOA) to Neutral from Buy with a price target of $7, down from $45, after the company disclosed an elevated liver enzyme signal had been observed in the azelaprag treatment arms in its Phase 2 STRIDES trial, which was evaluating azelaprag monotherapy and combination with tirzepatide in older obese adults. The firm finds the emergence of liver toxicity surprising given azelapragb s clinical safety profile to date had been very clean. The liver signal limits azelapragb s path forward in obesity and discontinuation of STRIDES “removes a significant catalyst for shares,” the analyst tells investors in a research note.