The Law Offices of Frank R. Cruz reminds investors of the upcoming December 15, 2025 deadline to participate as a lead plaintiff in the securities fraud class action lawsuit filed on behalf of investors who acquired MoonLake Immunotherapeutics ("MoonLake" or the Company") (NASDAQ: MLTX) securities between March 10, 2024 and September 29, 2025, inclusive (the “Class Period”).

IF YOU ARE AN INVESTOR WHO LOST MONEY ON MOONLAKE (MLTX), CLICK HERE TO PARTICIPATE IN THE SECURITIES FRAUD LAWSUIT.

What Happened?

On September 28, 2025, MoonLake Immunotherapeutics announced disappointing Phase 3 results for its only drug candidate, sonelokimab (“SLK”), revealing that SLK failed to match the efficacy of its competitor, Union Chimique Belge’s bimekizumab-bkz (“BIMZELX”). The Company had repeatedly promoted SLK’s nanobody structure as superior to other monoclonal antibodies—while allegedly failing to disclose it targeted the same molecules and lacked proven advantages.

Following the news, MoonLake’s stock fell $55.74, or 89.9%, to close at $6.24 per share on September 29, 2025, and thereby harming investors.

What Is The Lawsuit About?

The complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose: (1) that SLK and BIMZELX share the same molecular targets (the inflammatory cytokines IL-17A and IL-17F); (2) that SLK’s distinct Nanobody structure would not confer a superior clinical benefit over the traditional monoclonal structure of BIMZELX; (3) SLK’s distinct Nanobody structure supposed increased tissue penetration would not translate to clinical efficacy; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you purchased or otherwise acquired MoonLake securities between March 10, 2024 and September 29, 2025, the deadline to seek appointment as the lead plaintiff in the securities fraud class action is December 15, 2025.

Contact Us To Participate or Learn More:

If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact us:

Frank R. Cruz

The Law Offices of Frank R. Cruz,

2121 Avenue of the Stars, Suite 800,

Century City, California 90067

Email us at: info@frankcruzlaw.com

Call us at: 310-914-5007

Visit our website at www.frankcruzlaw.com

Follow us for updates on Twitter: twitter.com/FRC_LAW

If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251212167512/en/