MLTX lawsuit: Hagens Berman challenges MoonLake’s SLK claims after 90% crash — raises doubts on Nanobody vs. BIMZELX superiority

A securities‑class action has been filed against MoonLake Immunotherapeutics, Inc. (NASDAQ: MLTX), triggered by a catastrophic ~90% plunge in its share price after disappointing Phase III data for its sole drug candidate, sonelokimab (SLK). On September 29, 2025, shares collapsed from roughly US$61.99 to just US$6.24 following a release that revealed SLK’s performance in the VELA trial failed to meet expectations. The lead plaintiff firm, Hagens Berman Sobol Shapiro LLP, argues that MoonLake misled investors by overstating SLK’s advantages. For months prior, MoonLake had pitched SLK’s “Nanobody” structure as a breakthrough — promising superior efficacy and higher tissue penetration compared to traditional monoclonal antibodies like BIMZELX. But internal data (per the lawsuit) show that SLK and BIMZELX share identical molecular targets (IL‑17A and IL‑17F), and the Nanobody format did not deliver a meaningful clinical benefit over the older monoclonal design. According to Reed Kathrein, the Hagens Berman partner spearheading the case: “The suit alleges MoonLake concealed material adverse facts about SLK’s real clinical performance and its inability to stand out from competitors like BIMZELX.” The complaint centers on whether the discrepancy between MoonLake’s optimistic public statements and the actual Phase III results constitutes securities fraud. Investors who bought MLTX shares between March 10, 2024 and September 29, 2025 — and suffered losses — are being urged to contact Hagens Berman before the December 15, 2025 deadline to seek lead‑plaintiff status. The case may examine whether MoonLake’s background claims about SLK’s “Nanobody superiority” misled the market and artificially inflated share value. #MoonLake #SLK #SecuritiesLawsuit #BiotechNews #SlimScan #GrowthStocks #CANSLIM