MoonLake shares are trading higher after rival Acelyrin reported Part B of its Phase 2b/3 trial of izokibep for Hidradenitis Suppurativa failed to meet its primary endpoint. MoonLake is also working on a treatment for Hidradenitis Suppurativa.
Portfolio Pulse from Benzinga Newsdesk
MoonLake's shares are trading higher following the failure of rival Acelyrin's Phase 2b/3 trial of izokibep for Hidradenitis Suppurativa. MoonLake is also developing a treatment for the same condition.
September 12, 2023 | 12:45 pm
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POSITIVE IMPACT
MoonLake's shares are trading higher due to the failure of Acelyrin's trial for a similar treatment that MoonLake is developing.
MoonLake's shares are trading higher as the failure of Acelyrin's trial reduces competition for MoonLake's own treatment for Hidradenitis Suppurativa. This increases the potential market share for MoonLake's treatment, hence the positive impact on its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100