MoonLake Immunotherapeutics reported that its Phase 2 S‑OLARIS trial of sonelokimab achieved an 81 % ASAS40 response rate at week 12 in a cohort of 26 patients with both radiographic and non‑radiographic axial spondyloarthritis.
The study evaluated sonelokimab’s effect on disease activity using the ASAS40 composite endpoint and the ASDAS‑CRP score. 81 % of treated patients also reached a clinically meaningful improvement in ASDAS‑CRP, and imaging data showed marked reductions in sacroiliac joint inflammation and osteoblast activity. Safety findings were consistent with prior studies, with no new signals identified.
MoonLake’s financial position remains strong, with $394 million in cash, cash equivalents, and short‑term marketable debt securities as of December 31, 2025. The company has also secured a $500 million debt facility with Hercules Capital, of which $25 million has been drawn and up to $400 million is available upon milestone achievement, providing a runway into the second half of 2027.
Investors responded positively to the announcement, citing the high efficacy rates and the company’s robust financial footing. Analysts highlighted the strong clinical data as a key driver of the favorable reception.
The results reinforce sonelokimab’s potential to compete with existing IL‑17 inhibitors in the axial spondyloarthritis market and support the company’s broader strategy of developing the drug across multiple inflammatory indications, including hidradenitis suppurativa and psoriatic arthritis. Upcoming milestones include a Phase 3 readout in psoriatic arthritis and a BLA submission for hidradenitis suppurativa in the second half of 2026.
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