MoonLake data provide validation for Acelyrin, says Morgan Stanley

After MoonLake Therapeutics (MLTX) released 12-week data from the Phase 2 MIRA study evaluating sonelokimab in hidradenitis suppurativa, or HS, Morgan Stanley analyst Vikram Purohit said the “strong” data “appear highly competitive,” which the firm believes helps validate Acelyrin’s (SLRN) approach with izokibep. While acknowledging that cross-trial comparisons are “challenging,” the firm notes that gross levels of HiSCR50/75/90 for the 120mg dose of sonelokimab approach the levels reported in the open-label Phase 2 Part A data reported earlier this year for izokibep and adds that it continues to see the potential for multiple competitive therapeutic options in HS. The firm, which says Phase 2/3 Part B data for izokibep in HS expected in Q3 presents the next major catalyst for Acelyrin, has an Overweight rating and $29 price target on the shares, which are up $4.76, or 27%, to $22.41 in the wake of competitor MoonLake’s report.