MoonLake Immunotherapeutics (MLTX) said Sunday that a mid-stage clinical trial of its experimental drug, SLK, for patients with axial spondyloarthritis, a chronic inflammatory disease that affects the spine and joints, showed significant improvement in symptoms.

The drugmaker said 81% of the 26 patients receiving SLK experienced significant symptom improvement after 12 weeks of treatment.

More than 80% of participants also showed meaningful reductions in overall disease activity, the company said. It added that imaging scans revealed reduced inflammation in patients' joints, including deeper tissues that are often difficult to treat.

The company said additional scans suggested the drug may help slow bone changes that can lead to permanent stiffness and joint damage.

As of Dec. 31, the company reported $394 million in cash and short-term investments, which it expects will fund operations into H2 2027.