Latest news with #MoonLakeImmunotherapeutics
Yahoo
03-06-2025
- Business
- Yahoo
Merck's Dealmaking Intensifies With MoonLake Bid As Keytruda Patent Cliff Nears: Report
US drug giant Merck & Co Inc (NYSE:MRK) reportedly approached Swiss biotech MoonLake Immunotherapeutics (NASDAQ:MLTX) with a bid exceeding $3 billion. While MoonLake turned down the initial offer, talks may be revived. The potential deal signals renewed dealmaking activity as investor pressure has mounted on Merck to secure new assets, especially as its blockbuster cancer drug Keytruda faces patent expiration as early as 2028. MoonLake Immunotherapeutics' lead development asset sonelokimab is a novel investigational Nanobody for inflammatory inhibits IL-17A and IL-17F by inhibiting the IL-17A/A, IL-17A/F, and IL-17F/F dimers that drive inflammation. Merck is also grappling with falling sales of its Gardasil vaccine in China and underwhelming uptake of its new hypertension drug, Winrevair. Per a Financial Times report on Monday, Merck made a nonbinding offer earlier this year, valuing MoonLake above its $2.6 billion market capitalization. Founded in 2021 by former McKinsey partner Jorge Santos da Silva, MoonLake has garnered investor interest, with its stock price climbing nearly 50% over the past two years. The FT report added that the company hired Goldman Sachs and Morgan Stanley to advise on the sale process. Over the past year, Merck shares have dropped 39%, significantly underperforming the broader S&P 500 pharmaceutical index, which declined by 11%. In April, MoonLake Immunotherapeutics entered into an agreement with Hercules Capital, Inc. (NASDAQ:HTGC) for up to $500 million in non-dilutive capital, of which $75 million will be drawn down at close and additional tranches will become available upon achievement of certain pre-specified milestones that are aligned with MoonLake's strategy and funding needs. In January, MoonLake announced that patients have been screened in three new trials across three new indications to evaluate sonelokimab. The clinical program for sonelokimab now includes patients with adolescent hidradenitis suppurativa (HS), palmoplantar pustulosis (PPP), and axial spondyloarthritis (axSpA), as well as adult patients with HS and active psoriatic arthritis (PsA). This increases the number of clinical trials led by MoonLake to ten and aligns with the company's plan to enroll over 3,000 patients in clinical trials with sonelokimab since its founding in 2021. Price Action: MLTX stock is trading higher by 21.1% to $49.84 premarket at last check Tuesday. Read Next:Photo by tada images via shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? MERCK & CO (MRK): Free Stock Analysis Report This article Merck's Dealmaking Intensifies With MoonLake Bid As Keytruda Patent Cliff Nears: Report originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Reuters
02-06-2025
- Business
- Reuters
Merck held talks to buy biotech MoonLake for over $3 billion, FT reports
June 2 (Reuters) - Merck (MRK.N), opens new tab has held talks to buy Swiss biotech MoonLake Immunotherapeutics (MLTX.O), opens new tab for more than $3 billion, the Financial Times reported on Monday, citing three people familiar with the matter.
Yahoo
02-06-2025
- Business
- Yahoo
Merck held talks to buy biotech MoonLake for over $3 billion, FT reports
(Reuters) -Merck has held talks to buy Swiss biotech MoonLake Immunotherapeutics for more than $3 billion, the Financial Times reported on Monday, citing three people familiar with the matter.
Yahoo
27-05-2025
- Business
- Yahoo
H.C. Wainwright Maintains Buy Rating on MoonLake Immunotherapeutics (MLXT), Keeps PT
On May 27, Analyst Ram Selvaraju of H.C. Wainwright reiterated a Buy rating on MoonLake Immunotherapeutics (NASDAQ:MLTX) while keeping the price target unchanged at $100. The reiteration is based on the company's Sonelokimab candidate, which is currently in Phase 3 with topline data release anticipated soon. A close-up of a biopharmaceutical research laboratory, with a microscope in the foreground. Selvaraju highlighted the upcoming release of top-line data from the Phase 3 VELA program for Sonelokimab as a major catalyst for the company. The company reported rapid enrollment in this trial, which was faster than industry norms. The analyst believes the company has a huge market opportunity for Sonelokimab, estimating it could address a $10 billion to $15 billion market. While mentioning the financials, Selvaraju noted MoonLake Immunotherapeutics (NASDAQ:MLTX) had reserves of about $480 million as of early 2025 and also secured a term loan facility of up to $500 million giving runway till 2028 without immediate equity dilution. MoonLake Immunotherapeutics (NASDAQ:MLTX) is a clinical-stage biopharmaceutical company specializing in the development of medicines for immunologic diseases. Sonelokimab is its key candidate for treating diseases caused by immune system dysfunction, such as inflammatory skin diseases and joint diseases. While we acknowledge the potential of MLTX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MLTX and that has 100x upside potential, check out our report about the . READ NEXT: and . Disclosure: None.
Yahoo
27-05-2025
- Business
- Yahoo
H.C. Wainwright Maintains Buy Rating on MoonLake Immunotherapeutics (MLXT), Keeps PT
On May 27, Analyst Ram Selvaraju of H.C. Wainwright reiterated a Buy rating on MoonLake Immunotherapeutics (NASDAQ:MLTX) while keeping the price target unchanged at $100. The reiteration is based on the company's Sonelokimab candidate, which is currently in Phase 3 with topline data release anticipated soon. A close-up of a biopharmaceutical research laboratory, with a microscope in the foreground. Selvaraju highlighted the upcoming release of top-line data from the Phase 3 VELA program for Sonelokimab as a major catalyst for the company. The company reported rapid enrollment in this trial, which was faster than industry norms. The analyst believes the company has a huge market opportunity for Sonelokimab, estimating it could address a $10 billion to $15 billion market. While mentioning the financials, Selvaraju noted MoonLake Immunotherapeutics (NASDAQ:MLTX) had reserves of about $480 million as of early 2025 and also secured a term loan facility of up to $500 million giving runway till 2028 without immediate equity dilution. MoonLake Immunotherapeutics (NASDAQ:MLTX) is a clinical-stage biopharmaceutical company specializing in the development of medicines for immunologic diseases. Sonelokimab is its key candidate for treating diseases caused by immune system dysfunction, such as inflammatory skin diseases and joint diseases. While we acknowledge the potential of MLTX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MLTX and that has 100x upside potential, check out our report about the . READ NEXT: and . Disclosure: None.
