MoonLake Immunotherapeutics plunges after disappointing data from key skin drug trials

UCB SA

29/09/2025 12:20

** Shares of Swiss biotech MoonLake Immunotherapeutics MLTX.O fall 88% to $7.45 premarket

** Co on Sunday reported mixed results from two late-stage trials of its experimental drug, sonelokimab, in patients with hidradenitis suppurativa, a chronic inflammatory skin condition

** In one trial, the drug met all goals at week 16

** However, in the second trial, a higher-than-expected placebo response made it harder to show statistical significance at week 16 under one analysis method, co said

** Co said an alternative analysis showed the drug worked in both trials at week 16

** Placebo-adjusted results from both trials are "well into our worst case scenario" and do not demonstrate a clear efficacy advantage vs. UCB's UCB.BR Bimzelx - RBC Capital analysts

** As of last close, MLTX up 14.5%

 (Reporting by Kamal Choudhury in Bengaluru)

 ((Kamal.Choudhury@thomsonreuters.com;))