Clear Street described sonelokimab’s profile in hidradenitis suppurativa as highly competitive and one that readily supports “blockbuster potential.”
- The comments followed MoonLake’s release of final Week 52 results from its two pivotal late-stage trials in adults with moderate-to-severe hidradenitis suppurativa.
- MoonLake plans to submit its approval application to the FDA by the end of September.
- Retail investors are now awaiting the data from the company’s trials in psoriatic arthritis.
Shares of MoonLake Immunotherapeutics (MLTX) surged 15% on Monday, fueled by strong investor reaction to one-year clinical data on sonelokimab for hidradenitis suppurativa and a bullish note from Clear Street.
The stock clocked its best day since early January.
Clear Street Sees ‘Blockbuster Potential’ For MoonLake Drug
Clear Street described the drug’s profile in the skin condition as highly competitive and one that readily supports “blockbuster potential.” The firm kept its ‘Buy’ rating and $70 price target, noting the biologics license application remains on track for a September 30 filing and that management still sees priority review from the U.S. Food and Drug Administration as possible.
The comments followed MoonLake’s release of final Week 52 results from its two pivotal late-stage trials in adults with moderate-to-severe hidradenitis suppurativa. Hidradenitis suppurativa is a chronic, painful inflammatory skin condition that causes recurring boils, abscesses, and tunneling wounds, mainly in the armpits, groin, and other skin folds.
MLTX Trial Outcome
Roughly two-thirds of patients in the trials achieved at least a 75% reduction in painful abscesses and nodules without worsening elsewhere, while about one-third reached complete clearance of those lesions, MoonLake said. Around one-quarter hit full inflammatory remission. The outcomes improved further from earlier readouts and compared favorably with results seen for competing treatments at similar time points. Patients also reported meaningful gains in quality of life and pain relief.
Safety stayed consistent and favorable through one year, with no new issues. Most patients opted to continue in an open-label extension, and early data from adolescents looked encouraging as well, the company said.
MoonLake plans to submit its approval application by the end of September, including data from both adults and teens.
How Did MLTX Retail Traders React?
On Stocktwits, retail sentiment around MLTX stock jumped from ‘bullish’ to ‘extremely bullish’ territory over the past 24 hours, while message volume rose from ‘high’ to ‘extremely high’ levels.
A Stocktwits user expressed optimism for the company’s market capitalization rising as much as $5 billion by year’s end, following the submission of an application to the FDA and a priority review. The company currently has a market cap of about $1.63 billion
Another user highlighted the company’s other near-term catalysts, including data from two late-stage studies of sonelokimab in psoriatic arthritis. The primary results from the two trials are expected in mid-2026 and in the second half of 2026, respectively.
According to data from Koyfin, 11 of the 15 analysts covering MLTX rate it ‘Buy’ or higher, while two rate it ‘Hold’ and two ‘Sell.’ The stock has a 12-month average price target of $27.62, which represents a potential upside of about 25% from the stock’s last close.
MLTX stock has gained 84% this year.
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