Analyst Rami Katkhuda from LifeSci Capital maintained a Buy rating on MoonLake Immunotherapeutics and keeping the price target at $16.00.
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Rami Katkhuda has given his Buy rating due to a combination of factors that highlight MoonLake Immunotherapeutics’ promising financial and clinical outlook. The company reported a strong cash position of $380.5 million, which, along with a non-dilutive financing agreement, is expected to sustain operations into the second half of 2027. This financial stability is further supported by a $75 million underwritten offering, indicating a solid foundation for future growth.
Additionally, MoonLake’s recent clinical developments, particularly with their sonelokimab treatment for Palmoplantar Pustulosis (PPP), have shown positive results. The Phase II LEDA study demonstrated significant improvements in patients’ conditions, with a notable reduction in symptoms and a favorable safety profile. These promising outcomes suggest a substantial commercial opportunity, with management projecting a market potential of $4-5 billion by 2038. The anticipated start of a Phase III study in 2026 further strengthens the investment case for MoonLake.