MoonLake Immunotherapeutics (NASDAQ: MLTX)

This lawsuit is for anyone who acquired securities in MoonLake Immunotherapeutics (NASDAQ: MLTX) from March 10, 2024 through September 29, 2025.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, for the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by repeatedly touting its sole drug candidate, sonelokimab (“SLK”), as superior to competing monoclonal antibodies, stating that SLK’s Nanobody structure provided unique clinical advantages, while failing to also disclose that the drug targeted the same molecules as Union Chimique Belge’s (“UCB’s”) bimekizumab-bkz (“BIMZELX”) but offered no proven superiority.

On September 28, 2025, MoonLake Immunotherapeutics announced disappointing Phase 3 results for SLK, revealing that SLK failed to match the efficacy of its competitor, UCB’s BIMZELX. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in MoonLake Immunotherapeutics (NASDAQ: MLTX) from March 10, 2024 through September 29, 2025 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.