Clear Street says MoonLake Immunotherapeutics's positive pre-application meeting with the restores to its "prior strong positioning" in the hidradenitis suppurativa competitive landscape. The FDA meeting for sonelokimab concluded with agreement to include the Phase 2 MIRA efficacy with both VELA trial results in the label, the analyst tells investors in a research note. Clear Street believes this yields a "stronger, best-in-class label." The firm keeps a Buy rating on the shares with a $70 price target.
