Switzerland's MoonLake Q3 net loss widens as R&D costs rise

Overview

• Switzerland biotech posted Q3 net loss as R&D expenses rose on milestone license fees

• Company submitted Biologics License Application for sonelokimab to FDA for hidradenitis suppurativa

• MoonLake ended Q3 with $498.5 mln in cash, expects runway to mid-2028

Outlook

• Company expects FDA decision on sonelokimab BLA filing acceptance by end of Nov 2026

• MoonLake anticipates potential US commercial launch of sonelokimab in H2 2027, if approved

Result Drivers

• R&D EXPENSES - Co said expenses increased mainly due to milestone license fees tied to regulatory milestone associated with the expected acceptance of the Company's BLA submission

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 2 "hold" and 2 "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for MoonLake Immunotherapeutics is $30.00, about 156.4% above its November 3 closing price of $11.70

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)