BTIG upgraded MoonLake Immunotherapeutics (MLTX) to Buy from Neutral with a $24 price target The firm cites yesterday’s regulatory update for the upgrade. A Type B meeting with the FDA confirmed that MoonLakecould establish substantial evidence of effectiveness of SLK in hidradenitis suppurativa without conducting additional clinical studies, the analyst tells investors in a research note. BTIG says this “positive update clears a significant overhang” for MoonLake’s clinical development and could position SLK to receive FDA approval.
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