Why Is Arthritis-Focused MoonLake Immunotherapeutics Stock Trading Lower Today?
Portfolio Pulse from Vandana Singh
MoonLake Immunotherapeutics (NASDAQ:MLTX) released topline results from its global Phase 2 ARGO trial of Nanobody sonelokimab in patients with active psoriatic arthritis. The trial met its primary endpoint with a statistically significant greater proportion of patients treated with sonelokimab achieving an American College of Rheumatology (ACR) 50 response compared to those on placebo at week 12. However, MLTX shares are down 21.30% at $40.37 on the last check Monday.
November 06, 2023 | 3:39 pm
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NEGATIVE IMPACT
Despite positive Phase 2 trial results, MoonLake Immunotherapeutics' shares are down 21.30%.
The stock price of MoonLake Immunotherapeutics has dropped despite the company announcing positive results from its Phase 2 ARGO trial. This could be due to a variety of factors, including market sentiment, broader market trends, or investor expectations. It's also possible that investors had already priced in the positive trial results, leading to a 'sell the news' effect.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100