MoonLake Immunotherapeutics' Lead Skin Disorder Candidate Continues to Deliver on Best-Efficacy Profile: Analyst
Portfolio Pulse from Vandana Singh
MoonLake Immunotherapeutics (NASDAQ:MLTX) announced positive 24-week topline results from its Phase 2 MIRA trial of sonelokimab for moderate-to-severe hidradenitis suppurativa (HS). The data showed further improvements in HiSCR75 response rates and other clinically relevant outcomes. Needham maintains a Buy rating for MLTX, with a price target of $76. MLTX shares are up 10.20% at $60.24.
October 16, 2023 | 6:30 pm
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POSITIVE IMPACT
MoonLake Immunotherapeutics' sonelokimab shows positive results in Phase 2 MIRA trial, leading to a rise in MLTX shares. Needham maintains a Buy rating with a price target of $76.
The positive results from the Phase 2 MIRA trial of sonelokimab, MoonLake's lead skin disorder candidate, are a significant development for the company. This has led to an increase in the company's stock price. Needham's maintained Buy rating and price target of $76 further boost investor confidence in the company.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100