MoonLake Immunotherapeutics Securities Lawsuit Investigation

Shamis & Gentile P.A., a law firm that advocates for investors who are victims of securities fraud, is investigating potential claims against MoonLake Immunotherapeutics (MLTX).

If you purchased or acquired MoonLake Immunotherapeutics securities and suffered losses, you may be eligible to join this securities investigation and seek compensation.

About MoonLake Immunotherapeutics

MoonLake Immunotherapeutics is a clinical-stage biotechnology company focused on developing therapies for inflammatory diseases.

The company’s lead product candidate, sonelokimab, is a nanobody designed to treat conditions such as hidradenitis suppurativa (HS), a chronic skin disorder.

Potential Concerns Under Investigation

Lawyers are investigating whether MoonLake Immunotherapeutics and its executives may have made misleading statements or omitted critical information regarding the progress and prospects of sonelokimab’s Phase 3 VELA trials.

Company Statements and Projections

In May 2024, MoonLake Immunotherapeutics announced the start of the Phase 3 VELA trials, emphasizing that the design mirrored the “landmark milestone” Phase 2 MIRA trial and projecting topline data by mid-2025.

By the third quarter of 2024, management assured investors that “the Phase 3 program in HS is progressing as per plan” and reaffirmed the expected readout by mid-2025.

Statements from company leadership continued to project optimism. In November 2024, the CEO stated he “looks forward to 2025 with multiple data catalysts, including the expected primary readout of our Phase 3 VELA program in HS as of mid-year."

Even as late as the second quarter of 2025, management narrowed guidance to expect results by September 2025 and promoted an upcoming R&D day to discuss topline. These repeated assurances may be examined for whether they misrepresented the true state of the trials, as the eventual results sharply contradicted this optimism.

Trial Failure and Market Impact

The alleged corrective disclosure occurred on September 28, 2025, when MoonLake Immunotherapeutics issued cautious language regarding its Phase 3 VELA trials, citing mixed results, with one trial missing statistical significance due to placebo performance issues.

This news led to an immediate and dramatic collapse in the company’s stock price; falling approximately 88% in a single day, from the low-$60s to $7.52 per share at market opening, erasing several billion dollars in market value.

Notably, the broader markets were stable or rising at the time, suggesting the loss may have been specific to MoonLake Immunotherapeutics and directly tied to the disclosure of the trial results.

Attorneys may review whether MoonLake Immunotherapeutics adequately disclosed any warning signs or negative indicators regarding the VELA trials before the September 2025 announcement. The company cited a “higher-than-expected placebo response” only after the fact, which could be scrutinized for whether such risks were previously communicated to shareholders.

Lawyers may also review whether statements made by MoonLake Immunotherapeutics and its executives from Nov. 7, 2024, through Sept. 28, 2025, were materially misleading or omitted key facts. The class period under investigation encompasses this timeframe, as it begins with the first actionable misstatement and ends with the full disclosure of the trial results.

Your Rights and Next Steps

Investors who purchased MoonLake Immunotherapeutics securities between Nov. 7, 2024, and Sept. 26, 2025, and suffered financial losses may have important rights. This is currently an investigation, not a filed lawsuit. However, if evidence supports potential securities law violations, a class action lawsuit could follow.

By joining the investigation, investors may help strengthen the case for recovering losses and holding the company accountable. Lawyers are ready to help investors understand their rights, assess eligibility, and determine the best path forward. Participating in the investigation does not obligate investors to take further action, but it can preserve the right to seek compensation if a class action is filed.

It is important for investors to act promptly, as securities investigations and any resulting lawsuits are subject to strict deadlines. Investors who sold their shares before the alleged corrective disclosure on Sept. 28, 2025, may have different rights than those who held through the disclosure, so providing transaction details is important.

You May Be Entitled to Compensation

If you purchased or acquired MoonLake Immunotherapeutics securities and suffered losses during the class period, you may be eligible to join the investigation and seek compensation. Securities investigations are time-sensitive, and acting quickly can help protect your rights.

To take the next step, complete the form below to join the MoonLake Immunotherapeutics securities investigation.