Moon­Lake’s stock falls more than 20% de­spite mid-stage suc­cess in pso­ri­at­ic arthri­tis

Moon­Lake Im­munother­a­peu­tics’ nanobody can­di­date tri­umphed in a mid-stage pso­ri­at­ic arthri­tis tri­al fol­low­ing past suc­cess­es in hidradeni­tis sup­pu­ra­ti­va and pso­ri­a­sis, but its shares plunged amid high­er-than-ex­pect­ed re­sponse rates in the place­bo group, ac­cord­ing to an­a­lysts.

The Swiss biotech’s stock $MLTX tum­bled about 20% in trad­ing on Mon­day morn­ing, and it now sits at around $39 af­ter Fri­day’s close of $51.

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