MoonLake Immunotherapeutics 1Q26 Earnings Update

MoonLake Immunotherapeutics reported 1Q26 results and confirmed a September 2026 BLA filing for sonelokimab in HS. Goldman Sachs increased its probability of success for the program and raised the price target to $12.

Key Takeaways

• 1.MoonLake confirmed it will submit the BLA for sonelokimab (SLK) in Hidradenitis Suppurativa (HS) by late September 2026 following a final pre-BLA meeting with the FDA.
• 2.The FDA confirmed that data from the Phase 2 MIRA study will be used as substantial evidence of effectiveness (SEE) alongside Phase 3 VELA data.
• 3.MoonLake maintains a cash runway into year-end 2027 with approximately $358M in cash and equivalents, supplemented by an available debt facility.

Table of Contents

• Upcoming Events in the Next 12-18 Months
• Sonelokimab:
• Financial Statements and Model Changes
• Valuation and Risks
• Price target and rating history chart(s)
• Target price history table(s)
• Regulatory disclosures

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