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Clinical-stage biotech developing sonelokimab, an IL-17 Nanobody, for hidradenitis suppurativa and psoriatic arthritis.
Clinical-stage biotech developing sonelokimab, an IL-17 Nanobody, for hidradenitis suppurativa and psoriatic arthritis.
Pre-revenue: it sells nothing and funds development from cash raised since its listing through a merger with a blank-check company. Its single drug, sonelokimab, was licensed in from Merck KGaA, so approval and sales would trigger milestone and royalty payments to that partner.
Moat: narrow (IP / patents). Nanobody format may offer better tissue penetration than standard IL-17 antibodies, if confirmed in trials.
Headquarters: Zug, Switzerland · Founded: 2021 · Employees: 130
Size MoonLake Immunotherapeutics (MLTX) is a United States Health Care company (Pharmaceuticals: Major) with a market value of $981M, the 2261st largest of 3,117 United States companies the cockpit tracks. Shares closed at $11.53 on 6 Nov 2026.
Performance Over six months the shares fell 32.4%, against -12.3% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd lowest of 19 in its peer set.
Next results Next results expected around 4 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 |
| Revenue growth | — | — | — | — | — |
| Gross profit | -$3.40M | -$2.62M | -$1.38M | -$13,158 | -$12,358 |
| EBITDA | -$273M | -$242M | -$142M | -$54.1M | -$65.0M |
| Net income | -$273M | -$227M | -$119M | -$36.0M | -$50.0M |
| Free cash flow | -$244M | -$196M | -$117M | -$43.1M | -$55.9M |
| Capital expenditure | $0 | $35,000 | $519,520 | $284,634 | $16,009 |
| Total debt | $102M | $75.7M | $2.83M | $3.70M | $282,580 |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| MoonLake Immunotherapeutics MLTX | $981M | -32% | n/a | n/a | n/a | n/a |
| Novartis NOVN.SW | $298B | +15% | -4% | 30% | 6.3× | 1.7% |
| AbbVie ABBV | $515B | +45% | +11% | 36% | 8.9× | -0.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MLTX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.0% | -7.3% | 3rd highest of 20 |
| 6-month return | -32.4% | -12.3% | 2nd lowest of 19 |
| Distance from 52-week high | -50.5% | -28.6% | 2nd lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| MoonLake Immunotherapeutics MLTX | United States | $981M | -32% | n/a | n/a | n/a | n/a | n/a |
| Zhejiang Garden Biopharmaceutical 300401.SZ | China | $983M | -7% | +2% | 24% | 5.5× | 10.2% | +13.4% |
| Jiangsu Yahong Meditech 688176.SS | China | $973M | -12% | +15% | -172% | 17.8× | n/a | n/a |
| Strides Pharma Science STAR.NS | India | $973M | -13% | +11% | 14% | 2.1× | 18.1% | +7.8% |
| Kissei Pharmaceutical 4547.T | Japan | $973M | -16% | +6% | 6% | 1.1× | n/a | n/a |
| SSY 2005.HK | Hong Kong | $990M | +10% | -4% | 12% | 2.3× | 2.1% | -0.5% |
| Procter & Gamble Health PGHL.NS | India | $971M | +4% | +13% | 31% | 6.3× | 5.5% | +9.3% |
| Savara SVRA | United States | $992M | -8% | n/a | n/a | n/a | n/a | n/a |
| Harbin Gloria Pharmaceuticals 002437.SZ | China | $999M | -15% | -16% | 13% | 3.0× | 8.8% | -6.9% |
| KPC Pharmaceuticals 600422.SS | China | $1.00B | -7% | -41% | -10% | 1.9× | n/a | n/a |
| Harrow HROW | United States | $1.01B | -30% | +21% | 2% | 4.4× | 51.8% | +41.0% |
| Immatics IMTX | United States | $952M | -44% | -65% | -556% | 10.7× | n/a | n/a |
| Northeast Pharmaceutical 000597.SZ | China | $948M | -10% | -6% | 3% | 1.0× | -6.8% | -0.7% |
| City Therapeutics CTY | United States | $944M | n/a | +388% | -442% | n/a | n/a | n/a |
| Hunan Warrant Pharmaceutical 688799.SS | China | $942M | -20% | +5% | 9% | 4.7× | n/a | n/a |
| Oscotec 039200.KS | South Korea | $1.02B | -30% | +233% | 62% | 8.3× | -9.5% | +18.1% |
| Guangxi Wuzhou Zhongheng 600252.SS | China | $1.03B | -11% | -43% | -42% | 5.0× | 11.9% | -13.7% |
| Symbiotec Pharmalab SYMBIOTEC.NS | India | $1.03B | n/a | n/a | n/a | n/a | n/a | n/a |
| SAWAI 4887.T | Japan | $1.03B | -22% | +11% | 9% | 1.3× | n/a | n/a |
| Nxera Pharma 4565.T | Japan | $932M | +63% | +24% | 14% | 5.1× | 16.2% | +27.3% |
| Towa Pharmaceutical 4553.T | Japan | $1.03B | -16% | +7% | 9% | 1.2× | 1.5% | +12.1% |