MoonLake Immunotherapeutics - Class A Ordinary Shares (MLTX)

Byron Allen dials out, Salesforce logs in. Here are the various deal announcements of the past week plus bankruptcy updates.

There are notable gap-ups and gap-downs in today's session. Let's take a look at which stocks are gapping on Tuesday.

The deal is being discussed ahead of key data from MoonLake in patients with a skin disease.

The US market is yet to commence its session on Tuesday, but let's get a preview of the pre-market session and explore the top gainers and losers driving the early market movements.

Merck reportedly offered over $3 billion for MoonLake Immunotherapeutics, targeting its late-stage inflammatory drug as it faces revenue pressure from Keytruda's looming patent cliff.

U.S. stock futures fell on Tuesday after a higher close on Monday. Futures of major benchmark indices declined in premarket.

Oppenheimer has included MoonLake among its top biotech picks for 2025, alongside Capricor, Gilead, Kymera, Praxis, and Prothena.

MLTX stock results show that MoonLake missed analyst estimates for earnings per share the first quarter of 2024.

The company tested its psoriatic arthritis drug over 24 weeks against Humira.

Results with MoonLake Immunotherapeutics' Nanobody sonelokimab in Psoriatic Arthritis. Achieve over 60% ACR50, 40% ACR70, and 80% PASI90 by week 24. Unprecedented improvements compared to competitors.

U.S. stocks were higher, with the Nasdaq Composite gaining around 0.5% on Friday.

The company tested its drug over 12 weeks in 207 patients. All but one regimen led to statistically significant improvements.

U.S. stocks turned lower toward the end of trading, with the Dow Jones falling around 50 points on Monday The Dow traded down 0.16% to 34,007.81 while the NASDAQ fell 0.08% to 13,467.42. The S&P 500 also fell, dropping, 0.13% to 4,352.49.

Gainers Carbon Revolution Public Limited (NASDAQ: CREV) shares jumped 396.2% to $145.49 after gaining 100% on Friday. The company’s stock began trading on Friday following merger with Twin Ridge Capital Acquisition Corp.