SAN DIEGO, Oct. 27, 2025 (GLOBE NEWSWIRE) -- DiCello Levitt LLP announces that a class action lawsuit has been filed against MoonLake Immunotherapeutics (NASDAQ: MLTX), along with certain individuals, alleging that they violated federal securities laws by issuing false and/or misleading statements concerning the Company’s business, operations, and prospects. The suit is brought on behalf of all those who purchased or otherwise acquired MoonLake common stock between March 10, 2024 through September 29, 2025, both dates inclusive.
If you purchased or otherwise acquired shares of MoonLake common stock from March 10, 2024 through September 29, 2025, you may be a member of this proposed Class and you may be able to seek appointment as a lead plaintiff. Those wishing to serve as lead plaintiff must move the Court by no later than December 15, 2025.
Investors with substantial losses are encouraged to contact a lawyer. You may submit your information here: https://dicellolevitt.com/securities/moonlake/.
You may also contact DiCello Levitt attorneys Brian O’Mara or Jarett Sena by calling (888) 287-9005 or by email at investors@dicellolevitt.com.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Lawsuit Allegations.
MoonLake is a Swiss clinical-stage biotechnology company focused on inflammatory diseases driven by interleukin-17 (IL-17), particularly in dermatology and rheumatology. Its sole drug candidate, sonelokimab (SLK), is developed primarily for hidradenitis suppurativa (HS)—a chronic, painful skin disorder characterized by recurrent nodules and abscesses—as well as for psoriatic arthritis, psoriasis, and axial spondyloarthritis.
MoonLake began its Phase 2b MIRA trial of Sonelokimab (SLK)—a patented structure known as a Nanobody that differ from traditional monoclonal antibodies in their structure and size—for moderate-to-severe hidradenitis suppurativa in May 2022 and reported positive top-line results in June 2023, meeting its primary HiSCR75 endpoint. Follow-up data in October 2023 showed further improvement with continued treatment, and in early 2024, both the FDA and EMA endorsed MoonLake’s proposed Phase 3 program. The Phase 3 VELA-1 and VELA-2 trials began patient screening in May 2024.
Throughout the Class Period, Defendants made false and/or misleading statements, and failed to disclose material facts, regarding the distinction between the Nanobodies and monoclonal antibodies, including that: (1) that SLK and BIMZELX share the same molecular targets (the inflammatory cytokines IL-17A and IL-17F); (2) that SLK’s distinct Nanobody structure would not confer a superior clinical benefit over the traditional monoclonal structure; (3) the supposed increased tissue penetration of SLK’s distinct Nanobody structure would not translate to clinical efficacy; and (4) based on the foregoing, Defendants lacked a reasonable basis for their positive statements regarding SLK’s purported superiority to monoclonal antibodies.
On September 28, 2025, MoonLake announced week-16 results from its Phase 3 VELA program showing that SLK failed to demonstrate competitive efficacy relative to the traditional monoclonal structure BIMZELX. Following the announcement, MoonLake’s stock price plummeted, declining $55.75 per share, or 89.9%, to close at $6.24 on September 29, 2025.
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