MoonLake Immunotherapeutics: A Promising Outlook with Sonelokimab’s Potential in the HS Market

H.C. Wainwright analyst Ram Selvaraju has reiterated their bullish stance on MLTX stock, giving a Buy rating yesterday.

Ram Selvaraju’s rating is based on the recent developments and potential market implications for MoonLake Immunotherapeutics. The European Commission’s approval of BIMZELX® for the treatment of moderate-to-severe hidradenitis suppurativa (HS) has validated the IL-17A/F inhibitor class, which includes MoonLake’s lead drug candidate, sonelokimab (SLK). This approval not only demonstrates the effectiveness of IL-17A/F inhibition in treating HS but also sets a regulatory precedent that could benefit SLK’s future market entry. Selvaraju anticipates that the success of bimekizumab will likely facilitate the acceptance and adoption of SLK, positioning it as a potentially best-in-class option for HS and other inflammatory skin diseases.

Furthermore, the planned commencement of the Phase 3 (VELA) trial for SLK in HS, with a more favorable patient enrollment target compared to bimekizumab’s Phase 3 trials, adds to the positive outlook. The trial design, which has been aligned with regulatory guidance, and the promising data from earlier phases suggest that SLK could emerge as a leading treatment for HS upon approval. With top-line data expected in mid-2025 and the expansion of SLK’s clinical program into psoriatic arthritis, Selvaraju’s Buy rating reflects a confident view on MoonLake’s prospects and the anticipated success of its lead drug candidate in the market.

In another report released yesterday, LifeSci Capital also maintained a Buy rating on the stock with a $75.00 price target.

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MoonLake Immunotherapeutics (MLTX) Company Description:

Helix Acquisition Corp is a blank check company.