MoonLake jumps as AbbVie's weak skin drug data eases competition fears
MLTX•MoonLake shares rose 21.7% to $12.96 after AbbVie reported late-stage trial data showing an 8% placebo-adjusted improvement for lutikizumab in hidradenitis suppurativa. MoonLake is developing sonelokimab for the same condition.
1. Competition concerns ease
MoonLake shares rose 21.7% after AbbVie’s late-stage trial data for lutikizumab showed a modest 8% placebo-adjusted improvement in patients with hidradenitis suppurativa. MoonLake is developing sonelokimab, a dual IL-17A/F inhibitor targeting the same chronic inflammatory skin condition. Wedbush analyst Yun Zhong said the data supports sonelokimab as a “better treatment approach” and that the rally reflects “relief of an overhang of potential competition”; Cantor analysts called it a near-term positive for MoonLake. Including the session’s move, MoonLake shares were down 1.6% year to date.
