Core Viewpoint - The securities class action lawsuit against MoonLake Immunotherapeutics alleges that the company and its executives made materially false and misleading statements about the clinical prospects of their drug candidate, sonelokimab, leading to a significant stock price drop of nearly 90% following disappointing trial results [2][4]. Company Overview - MoonLake Immunotherapeutics is facing a class action lawsuit due to claims regarding the efficacy of its drug candidate, sonelokimab (SLK), which is based on a unique Nanobody structure [3][4]. - The company’s stock price fell from $61.99 to $6.24, representing a 90% loss, after the VELA-2 trial failed to meet its primary endpoint and showed inferior efficacy compared to a competitor [4]. Legal Context - The class period for the lawsuit is defined as March 10, 2024, to September 29, 2025, with a lead plaintiff deadline set for December 15, 2025 [4][5]. - Hagens Berman, the law firm leading the litigation, is encouraging investors who suffered significant losses during this period to come forward and discuss their legal options [5][6]. Investor Actions - Investors who purchased MoonLake stock within the specified class period and experienced substantial losses are urged to contact Hagens Berman to explore potential legal recourse and the possibility of being appointed as Lead Plaintiff [5][6].

Core Viewpoint - The lawsuit against MoonLake Immunotherapeutics alleges that the company and its executives made false statements about the clinical efficacy of their drug candidate, sonelokimab, leading to a significant stock price drop of nearly 90% following disappointing trial results [2][4]. Summary by Relevant Sections Lawsuit Allegations - The lawsuit claims that MoonLake misled investors by asserting that the unique Nanobody structure of sonelokimab would provide superior clinical outcomes compared to traditional monoclonal antibodies, specifically against the FDA-approved BIMZELX [3]. Stock Performance - Following the announcement of the VELA-2 trial results, which failed to meet its primary endpoint and demonstrated inferior efficacy, MoonLake's stock plummeted from $61.99 to $6.24, representing a 90% loss [4]. Investor Actions - Investors who purchased MoonLake stock between March 10, 2024, and September 29, 2025, and experienced significant losses are encouraged to contact Hagens Berman to explore legal options and the possibility of becoming the Lead Plaintiff [5].

Core Viewpoint - The lawsuit against MoonLake Immunotherapeutics alleges that the company and its executives made false statements about the clinical efficacy of their drug candidate, sonelokimab, leading to a significant stock price drop of nearly 90% following disappointing trial results [2][3][4]. Summary by Sections Lawsuit Details - The lawsuit claims that MoonLake's assertions regarding the superiority of its Nanobody technology were misleading, particularly in comparison to the FDA-approved competitor BIMZELX [3]. - The stock price plummeted from $61.99 to $6.24, representing a 90% loss, after the VELA-2 trial failed to meet its primary endpoint and demonstrated inferior efficacy [4]. Timeline and Key Information - Class Period: March 10, 2024 – September 29, 2025 - Lead Plaintiff Deadline: December 15, 2025 - Significant Stock Drop: 90% loss on September 29, 2025, due to failed trial results [4]. Next Steps for Investors - Investors who purchased MoonLake stock during the specified class period and incurred substantial losses are encouraged to contact Hagens Berman to explore legal options and potential appointment as Lead Plaintiff [5]. About Hagens Berman - Hagens Berman is a global plaintiffs' rights firm that focuses on corporate accountability and has secured over $2.9 billion for clients in similar cases [7].

Core Viewpoint - A securities class action lawsuit has been filed against MoonLake Immunotherapeutics, alleging that the company and its executives made false statements about the clinical efficacy of their drug candidate, sonelokimab, leading to a significant stock price drop of nearly 90% following disappointing trial results [2][4]. Company Allegations - The lawsuit centers on claims that MoonLake misled investors regarding the superiority of its Nanobody technology compared to conventional monoclonal antibodies, particularly against the FDA-approved competitor BIMZELX [3]. - The specific event that triggered the stock drop was the failure of the VELA-2 trial to meet its primary endpoint, revealing that the drug's efficacy was inferior to that of its competitor [4]. Financial Impact - MoonLake's stock price plummeted from $61.99 to $6.24, representing a 90% loss on September 29, 2025, after the trial results were announced [4]. Investor Guidance - Investors who purchased MoonLake stock between March 10, 2024, and September 29, 2025, and experienced significant losses are encouraged to contact Hagens Berman to explore their legal options and potential appointment as Lead Plaintiff [5].

Core Viewpoint - A securities class action lawsuit has been filed against MoonLake Immunotherapeutics, alleging that the company and its executives made materially false and misleading statements about the clinical prospects of their drug candidate, sonelokimab (SLK), leading to a nearly 90% stock crash following disappointing Phase 3 trial results [2][3][4]. Summary by Relevant Sections Lawsuit Allegations - The lawsuit claims that MoonLake misrepresented the efficacy of SLK, asserting that its unique Nanobody structure would provide superior clinical outcomes compared to traditional monoclonal antibodies, specifically against the FDA-approved competitor BIMZELX [3][4]. Stock Performance - Following the announcement of the VELA-2 trial results, which failed to meet its primary endpoint and demonstrated inferior efficacy compared to competitors, MoonLake's stock plummeted from $61.99 to $6.24, marking a 90% loss on September 29, 2025 [4]. Investor Actions - Investors who purchased MoonLake stock between March 10, 2024, and September 29, 2025, and experienced significant losses are encouraged to contact Hagens Berman to discuss their legal options and potential appointment as Lead Plaintiff [6][7]. Important Dates - The Lead Plaintiff Deadline for the lawsuit is December 15, 2025, which is rapidly approaching [1][6].

Financial Data and Key Metrics Changes - The company raised approximately CHF 750 million through equity since going public in 2022 and recently announced a non-dilutive facility of about $500 million [7][26] - The dropout rates in clinical trials remain low, operating in single-digit percentages, which is a characteristic of the sonelokumab (SLK) trials [22][44] Business Line Data and Key Metrics Changes - The company is focused on two main areas: dermatology and rheumatology, with multiple ongoing trials including Phase III for hidradenitis suppurativa (HS) and Phase II for palmo-plantar pustulosis (PPP) [15][18] - The VALOR program for HS has completed recruitment faster than competitors, with a primary endpoint readout expected in Q3 [20][52] Market Data and Key Metrics Changes - The market for HS is characterized by a high prevalence of approximately 2.5 million patients in the U.S., with a significant portion being untreated [82][89] - The biologics share in HS treatment remains low, indicating a large opportunity for growth as many patients are still naive to biologic therapies [88][92] Company Strategy and Development Direction - The company aims to position sonelokumab as the gold standard in HS treatment, focusing on achieving a delta in high score 75 that starts with a two [66][68] - The strategy includes leveraging the unique characteristics of sonelokumab, such as its low immunogenicity and convenient dosing schedule, to differentiate from competitors [76][71] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the upcoming data readout and the potential for sonelokumab to outperform competitors based on the robust clinical trial design and patient characteristics [52][45] - The company highlighted the importance of addressing unmet needs in the HS market and the potential for significant market share due to limited competition [93][94] Other Important Information - The company has a strong pipeline with a mix of Phase II and Phase III trials, indicating a commitment to expanding its product offerings [16][18] - The competitive landscape is described as limited, with few products available that can effectively compete with sonelokumab [73][94] Q&A Session Summary Question: What is the expected timeline for the VALOR program data readout? - The primary endpoint data for the VALOR program is expected to be shared around September, following quality control processes after the completion of recruitment [52][51] Question: How does the company plan to differentiate sonelokumab from competitors? - The company aims to demonstrate superior efficacy and a more convenient dosing regimen compared to competitors, which is crucial for gaining market acceptance [66][71]