Core Insights - MoonLake Immunotherapeutics experienced a significant decline in its stock price, dropping over 80% following disappointing results from two late-stage trials of its drug sonelokimab for hidradenitis suppurativa [4] Company Overview - MoonLake Immunotherapeutics is currently under investigation by Faruqi & Faruqi, LLP for potential claims related to the significant losses suffered by investors [3] - The company is listed on NASDAQ under the ticker MLTX [3] Clinical Trial Results - One of the late-stage trials showed a statistically significant improvement over placebo; however, the margin of benefit did not meet investor expectations [4] - The second trial failed to meet its primary endpoint, attributed to an unexpectedly high placebo response, raising concerns about the drug's regulatory path and commercial viability [4] Market Reaction - The disappointing trial results led to skepticism from analysts and triggered a sharp sell-off in the market, reflecting investor concerns about the future of MoonLake's drug development [4]