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News  ›  GlobeNewswire Inc.

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

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Hagens Berman
MoonLake Immunotherapeutics (MLTX) Faces Securities Class Action After Company Reported Disastrous Phase 3 Trial Data For Sole Drug Candidate -- Hagens Berman

MoonLake Immunotherapeutics faced a securities class action lawsuit after reporting disappointing Phase 3 trial results for its sole drug candidate sonelokimab, causing a 90% stock price drop and investor losses.

Insights
CQQQ   negative

ETF fell 1.9% as investors questioned the real impact of the trade truce


MLTX   negative

Stock price dropped 90% after failed Phase 3 trial, potential misleading statements to investors about drug efficacy, and facing a class action lawsuit