MoonLake Immunotherapeutics (MLTX) reported Monday its Q2 loss narrowed to $0.84 per share, from a loss of $0.87 per share, a year earlier.

Analysts polled by FactSet expected a loss of $0.92 per share.

As of June 30, the company said it had $537.0 million in cash, cash equivalents and short-term marketable debt securities on hand, and expected it could fund operations to mid-2028.

Separately, the company said its phase 3 IZAR-1 trial of sonelokimab in biologic-naive patients with psoriatic arthritis met all clinical endpoints at Week 16.

The company said 42.1% of patients receiving the 60 mg dose with induction achieved an ACR50 response, while 66.5% achieved ACR20 and 41.2% achieved minimal disease activity.

Among patients with skin involvement, 61% achieved PASI90 at week 16, it added.