MoonLake Immunotherapeutics (NASDAQ:MLTX) stock is taking off on Monday after reporting positive results from a Phase 2 clinical trial.
Those results come from the company’s clinical trial evaluating the efficacy and safety of Nanobody sonelokimab. This trial was seeking to determine the effectiveness of this drug in treating patients with moderate-to-severe hidradenitis suppurativa (HS).
MoonLake Immunotherapeutics notes that the clinical trial met its primary endpoint. This saw a significant amount of patients reach HiSCR75 on its 120-mg and 240-mg doses after 12 weeks when compared to those on a placebo.
Additionally, the Phase 2 clinical trial also met its secondary endpoints. Among these are HiSCR90, improvements in International Hidradenitis Suppurativa Severity Score System (IHS) 4, abscess/nodule and draining tunnel counts, as well as a reported improvement in pain and quality of life after 12 weeks.
Finally, MoonLake Immunotherapeutics points out that Nanobody sonelokimab was well received during the study. That includes no new safety signals as well as a favorable safety profile that matches IL-17 inhibitors.
Alexa B. Kimball, MD, MPH, lead investigator of the Phase 2 clinical trial, said the following about the results.
“As a physician, I see tremendous need for new treatment options for people living with HS, particularly for treatments to reach high thresholds of response in clinical trials (e.g., HiSCR75 and beyond). The positive high clinical responses observed with sonelokimab in the Phase 2 MIRA trial are encouraging, demonstrating its promise as a potential future treatment option.”
How This Affects MLTX Stock Today
Shares of MLTX stock are up 93.2% as of Monday morning. That comes as some 2.5 million shares of the stock have changed hands as of this writing. That’s a massive increase in trading volume compared to the company’s daily average of about 391,000 shares.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
