A class action lawsuit has been filed against Moonlake Immunotherapeutics, alleging securities fraud that affected investors between March 10, 2024, and September 29, 2025. The complaint claims that the company made false statements or concealed material information regarding its sole drug candidate, SLK, specifically its similarities to BIMZELX in targeting inflammatory cytokines IL-17A and IL-17F. It is alleged that the company misrepresented the purported clinical advantages of SLK's Nanobody structure, including claims that it would offer superior clinical benefits and increased tissue penetration compared to traditional monoclonal antibodies. Based on these allegations, the lawsuit asserts that Moonlake Immunotherapeutics lacked a reasonable basis for its positive statements about SLK's superiority. Investors who experienced losses during the specified period are represented in this case.