Press release
MoonLake Immunotherapeutics Reports Second Quarter 2023 Financial Results and Provides a Business Update
Achieved landmark milestone with positive results from Phase 2 MIRA trial in hidradenitis suppurativa (HS), suggesting that, as early as week 12, the
About this update from Moonlake Immunotherapeutics
[{"type":"text","content":" Achieved landmark milestone with positive results from Phase 2 MIRA trial in hidradenitis suppurativa (HS), suggesting that, as early as week 12, the Nanobody® sonelokimab, relative to placebo, reaches the highest clinical activity among all other therapies tested in similarly stringent pivotal-like trials; top-line 24-week data readout is expected in mid-October 2023Successfully completed randomization of the target 200 patients several weeks ahead of schedule in its global Phase 2 ARGO trial in active psoriatic arthritis (PsA); top-line 12-week data readout is expected in the first half of November 2023Raised gross proceeds of approximately $460 million in an upsized public follow-on offering, providing significant new funds to advance the development of sonelokimab and for general corporate purposes ZUG, Switzerland, August 10, 2023 – MoonLake Immunotherapeutics (NASDAQ:MLTX) (“MoonLake” or the “Company”), a clinical-stage biotechnology company focused on creating next-level therapies for inflammatory diseases, today announced its financial results for the second quarter of 2023. MoonLake continues to make significant progress with the clinical development of sonelokimab, which is currently being investigated in two Phase 2 clinical trials: the first, “MIRA”, in moderate-to-severe hidradenitis suppurativa (HS) and the second, “ARGO”, in active psoriatic arthritis (PsA). Sonelokimab has already been successfully assessed in a randomized, placebo-controlled, Phase 2b trial in patients with moderate-to-severe plaque-type psoriasis, in which it demonstrated a rapid and durable skin clearance (Psoriasis Area Severity Index (PASI) 100 response). Sonelokimab is an investigational Nanobody® designed to inhibit IL-17F in addition to IL-17A and therefore could represent a major improvement in treating inflammation in these dermatological and rheumatological diseases. The Nanobody’s® smaller size versus traditional antibodies and its albumin-binding domain provide an opportunity for further efficacy. The MIRA and the ARGO trials both achieved their target patient enrollment and randomization faster than anticipated, reflecting the Company’s strong execution and interest from physicians and patients in MoonLake’s clinical development programs. Dr. Jorge Santos da Silva, Chief Executive Officer of MoonLake Immunotherapeutics, said: “This...