MoonLake's stock price soars due to positive axSpA trial data

Investing.com – MoonLake Immunotherapeutics (NASDAQ:MLTX) stock rose 6.6% pre-market on Monday after the company announced positive topline results from its Phase 2 S-OLARIS trial of sonelokimab for axial spondyloarthritis.

In the trial, 81% of patients treated with sonelokimab achieved an ASAS40 response at week 12, a measure indicating at least 40% improvement in key disease areas. Over 80% of patients also showed clinically meaningful improvement at week 12 based on ASDAS-CRP scores.

PET imaging demonstrated significant reductions in inflammation and osteoblast activity in the sacroiliac joints affected by axial spondyloarthritis, which are key drivers of irreversible ossification in the disease. The sacroiliac joint SPARCC MRI scores also confirmed clinical improvement at week 12.

The company stated that the safety profile of sonelokimab in the S-OLARIS trial was consistent with previous studies, with no new safety signals detected.

MoonLake ended the quarter with $394 million in cash, cash equivalents, and short-term debt securities. Including the recent $75 million equity financing, the company expects its cash reserves to last through the second half of 2027.

The company also announced an amended debt financing agreement with Hercules Capital, drawing down $25 million, with up to $400 million in non-dilutive funding available.

Research and development expenses for the quarter ending December 31, 2025, were $56 million, compared to $60.6 million in the previous quarter. General and administrative expenses were $9.2 million, down from $10.8 million in the previous quarter.

MoonLake expects to report 52-week data for its VELA-1 and VELA-2 trials for hidradenitis suppurativa in the second quarter of 2026, with topline results from the Phase 3 psoriasis arthritis trial expected mid-2026.

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