MoonLake Immunotherapeutics initiated with an Outperform at Cowen

• Cowen analyst Phil Nadeau initiated coverage of MoonLake Immunotherapeutics (MLTX) with an Outperform rating.
• The company is developing sonelokimab in inflammatory diseases and Phase 2 data in psoriasis suggest improved safety and efficacy compared to traditional anti-IL-17A/F monoclonal antibodies, Nadeau tells investors.
• He expects the company to create shareholder value as sonelokimab advances.
• Since the start of 2022, MoonLake Immunotherapeutics's shares were down around 42%, and over a period of one year, shares were down around 44%.
• Shares are currently +2.33% to $5.71 today.