MoonLake Immunotherapeutics jumps as skin condition drug trial meets goal

MoonLake Immunotherapeutics

26/06/2023 17:11

** Shares of Switzerland-based MoonLake Immunotherapeutics
 MLTX.O  hit record high of $52.32
    ** Co said its mid-stage trial met its goal, showing a
higher measure of clinical response in patients with a type of
skin condition
    ** Co was evaluating its lead drug sonelokimab in patients
with moderate-to-severe hidradenitis suppurativa, a long-term
skin condition that causes skin abscesses and scarring on skin
    ** Brokerage TD Cowen says particularly encouraged by
magnitude of benefit observed in patients treated with the 120mg
dose, for which the trial reported a placebo-adjusted HiSCR75
score of 29%
    ** Sonelokimab has set a "high watermark" for the entire
hidradenitis supparativa field - Brokerage BTIG
    ** Stock up ~316% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))