- HC Wainwright initiated coverage on MoonLake Immunotherapeutics (NASDAQ:MLTX) with a Buy rating and a price target of $28, citing a potentially best-in-class agent for multiple inflammatory disorders.
- As per the analysts, MoonLake possesses a possibly best-in-class agent in the IL-17- blocking category with sonelokimab (SLK), a novel nanobody targeting both IL-17A and IL-17F that drive inflammation.
- SLK’s small size would enable effective penetration of deep-lying tissues, providing a key advantage over its competitors.
- In a Phase 2 trial published in The Lancet, up to 57% of patients with moderate to severe psoriasis who took SLK achieved clear skin (PASI 100) at week 24 and sustained responses over 52 weeks.
- There was also a numerical benefit over Novartis AG’s (NYSE:NVS) Cosentyx (secukinumab) control arm and a favorable safety profile.
- “We believe that SLK could be favorably positioned in both psoriasis and psoriatic arthritis vs. existing antibody drugs, which do not address blockade of all pathological forms of IL-17 and that have various off-target side effects,” said HC Wainwright.
- In addition, MoonLake is pursuing the development of SLK in hidradenitis suppurativa (HS), a debilitating inflammatory skin disease for which there are currently no approved therapies.
- Price Action: MLTX shares are up 36.7% at $7.56 during the market session on the last check Thursday.
Biora Therapeutics Progresses Research Collaboration For The BioJet Systemic Oral Delivery Platform; Met Key Performance Milestones As Part Of Its Research Collaboration With AstraZeneca
Biora Therapeutics, Inc. (NASDAQ:BIOR), the biotech company that is reimagining therapeutic delivery, today announced that its BioJet™ Systemic Oral Delivery Platform has met key performance milestones as part of
