MoonLake关键药物临床数据不及预期,并遭大行下调评级

智通财经
Sep 29, 2025

瑞士生物技术公司MoonLake Immunotherapeutics公布的一款实验性皮肤病药物的晚期临床试验数据不及预期。受此消息影响,截至发稿,MoonLake盘前暴跌87%,其竞争对手比利时制药公司UCB SA的股价则大幅上涨。

摩根士丹利分析师称,MoonLake旗下的sonelokimab用于治疗中重度化脓性汗腺炎患者中的关键数据点——通过减少皮肤脓肿和炎症来衡量——在两项研究中合并计算的安慰剂调整后疗效仅为14%。相比之下,UCB的Bimzelx在此前公布的试验结果中显示出18%的安慰剂调整后疗效。摩根大通分析师Richard Vosser则直言,sonelokimab在化脓性汗腺炎中的疗效“无疑劣于”Bimzelx。TD Cowen分析师Stacy Ku表示:“我们预计MoonLake的最新消息将成为投资者的一次重大清算事件。”

此外,加拿大皇家银行(RBC)大幅下调了对MoonLake Immunotherapeutics的评级和目标价。RBC将MLTX的投资评级从"跑赢大盘"下调至"板块表现",同时将目标价从67美元大幅下调至10美元,降幅高达85%。这一举动严重打击了投资者信心。

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