Moon­Lake's mid-stage IL-17 da­ta sent shares sky­rock­et­ing. Now it plans to sell $250M in stock

Moon­Lake Im­munother­a­peu­tics is seek­ing to raise $250 mil­lion from in­vestors in a pub­lic of­fer­ing, the biotech said af­ter Mon­day’s clos­ing bell. The move comes af­ter its share price $MLTX bal­looned by 78% Mon­day thanks to mid-stage da­ta in a skin dis­ease.

Da­ta from the Swiss biotech showed that its IL-17 in­hibitor was bet­ter than place­bo at re­duc­ing ab­scess and in­flam­ma­to­ry nod­ules in pa­tients with hidradeni­tis sup­pu­ra­ti­va, a skin dis­ease that caus­es painful lumps in the armpits, groin area and else­where.

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