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News  ›  GlobeNewswire Inc.

MoonLake Immunotherapeutics’ (MLTX) Reported Phase 3 Trial Data for Sole Drug Candidate, 90% Stock Crash Triggers Investor Suit -- Hagens Berman

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Hagens Berman
MoonLake Immunotherapeutics’ (MLTX) Reported Phase 3 Trial Data for Sole Drug Candidate, 90% Stock Crash Triggers Investor Suit -- Hagens Berman

MoonLake Immunotherapeutics experienced a nearly 90% stock price collapse after disappointing Phase 3 trial results for its lead drug sonelokimab, leading to a securities fraud class action lawsuit alleging misleading statements about the drug's clinical prospects.

Insights
COFpK   neutral

Mentioned in context of portfolio conversion that may temporarily impact Mastercard's volume growth


MLTX   negative

Stock price dropped 90%, failed Phase 3 trial, facing securities fraud lawsuit, drug candidate showed lower efficacy than competitor