Shares of MoonLake Immunotherapeutics (MLTX) are down 88% at $7.68 after the company announced the week 16 results of the Phase 3 VELA-1 and VELA-2 trials of its registrational global program in patients with moderate-to-severe hidradenitis suppurativa, or HS, yesterday. The data showed that sonelokimab failed to differentiate in the week 16 results of the Phase 3 VELA-1 and VELA-2 trials of its registrational global program in patients with moderate-to-severe hidradenitis suppurativa. The stock was also downgraded at BTIG and RBC following the readout. As previously reported,
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Read More on MLTX:
- MoonLake Immunotherapeutics Reports Positive Phase 3 Trial Results
- MoonLake Immunotherapeutics downgraded to Neutral from Buy at BTIG
- Buy Rating for MoonLake Immunotherapeutics Amid Mixed Trial Results and Regulatory Potential
- Buy Rating on MoonLake Immunotherapeutics: Potential Beyond VELA Trials Amid Setbacks
- MoonLake downgraded to Sector Perform from Outperform at RBC Capital