MoonLake Immunotherapeutics (MLTX), a clinical-stage biotechnology company focused on developing therapies for inflammatory skin and joint diseases, announced a $150 million public offering of class A ordinary shares and pre-funded warrants to purchase class A ordinary shares.
MoonLake intends to use the net proceeds from this offering to fund the research, development, and pre-commercialisation of its lead investigational 40-kDa humanised nanobody, Sonelokimab, and for general corporate purposes.
MoonLake is expected to grant the underwriters of the offering an option for a period of 30 days to purchase up to an additional $22.5 million of its class A ordinary shares at the public offering price.
The company's lead asset Sonelokimab is being evaluated in two indications, Hidradenitis Suppurativa (HS) and Psoriatic Arthritis (PsA). In addition, the company is pursuing other indications in dermatology and rheumatology, including adolescent HS, palmoplantar pustulosis (PPP) and axial spondyloarthritis (axSpA).
On Monday, the company announced positive 52-week results from the Phase 3 registrational VELA-1 and VELA-2 clinical trials evaluating Sonelokimab in patients with moderate-to-severe hidradenitis suppurativa.
Submission of the Biologics License Application (BLA) for Sonelokimab in HS is expected at the end of September 2026.
MLTX has traded between $5.95 and $62.75 over the last year. The stock closed Monday's trade at $22.16, up 15.36%,
In the overnight market, MLTX is down 2.53% at $21.60.
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