MoonLake raises $460M in offering; Phase 2 MIRA trial meets primary endpoint with HiSCR75 at week 12

MoonLake Immunotherapeutics

Priced 9.2M Class A ordinary shares at $50/sh (8M firm + 1.2M option) for $460M gross proceeds.
Phase 2 MIRA trial (234 patients) met HiSCR75 primary endpoint: 120mg dose had 29 ppt delta to placebo (p=0.0002).
HiSCR50 delta 38 ppt (p<0.0001); secondary endpoints including HiSCR90, IHS4, pain, quality of life all significant.
SLK safety consistent with prior IL-17 inhibitor profile; no new signals observed.
Entered global royalty-bearing license with RCT for Pichia pastoris manufacturing process for SLK.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

MoonLake Immunotherapeutics entered into Underwriting Agreement with SVB Securities LLC and Guggenheim Securities LLC as the representatives of the underwriters valued at $460 million (effective 2023-06-27).

Action: entry
Agreement: underwriting
Counterparty: SVB Securities LLC and Guggenheim Securities LLC as the representatives of the underwriters
Value: $460 million
Effective: 2023-06-27

Exact text from the filing

On June 27, 2023, MoonLake Immunotherapeutics (the “Company”) entered into an underwriting agreement (“Underwriting Agreement”) with SVB Securities LLC and Guggenheim Securities LLC as the representatives of the underwriters named therein (the “Underwriters”), to issue and sell 8,000,000 Class A ordinary shares, par value per share $0.0001 (the “Firm Shares”), at a public offering price of $50.00 per share (the “Offering”).

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MoonLake Immunotherapeutics filing history →

Source: SEC EDGAR

accession 0001628280-23-023905

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