MLTX SHAREHOLDER NOTICE: MoonLake Immunotherapeutics (MLTX) Faces Securities Class Action After Company Reported Disastrous Phase 3 Trial Data For Sole Drug Candidate -- Hagens Berman

Core Viewpoint - MoonLake Immunotherapeutics faced a significant decline in share price following the announcement of disappointing Phase 3 trial results for its product candidate sonelokimab (SLK), leading to a securities class action lawsuit alleging misleading statements about the drug's efficacy and trial design [1][2][6]. Company Overview - MoonLake Immunotherapeutics is a clinical-stage biotechnology company focused on treating skin inflammatory diseases, specifically targeting cytokines IL-17A and IL-17F [3][4]. Trial Results and Market Reaction - The Phase 3 trial results revealed that only one of the two trials achieved statistical significance, with the efficacy of SLK being substantially lower than that of the competitor's FDA-approved product, BIMZELX [6]. - Following the announcement on September 28, 2025, MoonLake's share price plummeted by $55.75, approximately 90%, on September 29, 2025 [2][6]. Allegations of Misleading Information - The lawsuit claims that MoonLake misled investors regarding SLK's trial design and efficacy, asserting that the company made false statements about the advantages of SLK's Nanobody structure over traditional monoclonal antibodies [5][6]. - Specific allegations include misleading claims about the clinical benefits of SLK compared to BIMZELX, including the assertion that SLK would achieve superior clinical responses and could become the "gold standard" treatment [5][6]. Legal Proceedings - A securities class action has been filed against MoonLake, with a focus on the company's statements about SLK's trial design and data [1][3]. - The lead plaintiff deadline for the class action is set for December 15, 2025 [3].