Press release
MoonLake Immunotherapeutics Reports Fourth Quarter and Year-End 2022 Financial Results and Provides a Business Update
MoonLake Immunotherapeutics Reports Fourth Quarter and Year-End 2022 Financial Results and Provides a Business Update Strong financial position: year-end
About this update from Moonlake Immunotherapeutics
[{"type":"text","content":"MoonLake Immunotherapeutics Reports Fourth Quarter and Year-End 2022 Financial Results and Provides a Business Update Strong financial position: year-end cash, cash equivalents and short-term marketable debt securities of $72.1 million, expected to provide runway well into 2H 2024 and at least 12 months beyond expected key data readoutsRecent clinical data announced at the 81st Annual Meeting of the American Academy of Dermatology on the novel IL-17A and IL-17F inhibition further reinforces MoonLake’s competitive position with sonelokimab in the Hidradenitis Suppurativa (\"HS\") landscapePatient enrollment and randomization completed ahead of schedule in a global Phase 2 trial of sonelokimab in HS with top-line results expected around the end of June 2023 and final read-out by Q4 2023Patient enrollment on schedule in a global Phase 2 trial in Psoriatic Arthritis (\"PsA\") with primary end-point readout expected at the end of 2023Capital Markets Day to be held on Wednesday, April 19th, 2023, 10:30am EST to 12.30pm EST – live in New York and via webcast – to discuss recent progress and upcoming catalysts for MoonLake – see details below ZUG, Switzerland, March 20, 2023 – MoonLake Immunotherapeutics (NASDAQ:MLTX) (“MoonLake”), a clinical-stage biotechnology company focused on creating next-level therapies for inflammatory diseases, today announced its financial results for the fourth quarter and year ended December 31, 2022, and provided a business update. MoonLake continues to make good progress with the clinical development of sonelokimab in multiple inflammatory diseases in dermatology and rheumatology where the pathophysiology is known to be driven by IL-17A and IL-17F. Sonelokimab’s ability to efficiently inhibit IL-17F in addition to IL-17A could represent a major improvement in treating inflammation in these diseases. Sonelokimab’s smaller size versus traditional antibodies and albumin-binding domain provide an opportunity for further efficacy. Dr. Jorge Santos da Silva, Chief Executive Officer of MoonLake Immunotherapeutics, said: “2022 was an excellent year for MoonLake. We went public on Nasdaq, raised $150 million, and initiated two global Phase 2 clinical trials. 2023 looks even more important with results from our two global trials expected during the year. The first Phase 2 trial anticipated to read out is for sonelok...