Jan. 9 at 10:34 PM
6/3/25
$MRK offers
$3B *before P3 HS data*
$48.50 / share, declined.
9/26/25 Moonlake announces data from (2) P3 HS ‘well powered’ studies conducted in different global regions, closing trade
$61.99
9/29/25 opens at
$6.97, down 92% due to high placebo in 1 of HS studies.
1/8/26, FDA allows Moonlake to disregard P3 study w high placebo rate.
1/9/26 closed
$18.26, Wedbush announces “high likelihood approval”. 1/3 buyout value pre data & pre FDA guidance
1/12/26 ?
https://www.fiercebiotech.com/biotech/merck-made-3b-plus-offer-moonlake-and-could-revive-interest-late-phase-biotech-ft
Merck
$BIIB $AMGN want into HS / C5a/ anti inflammatory w focus on China, aka
$IFRX $MLTX
“Merck has struck a series of deals to bring molecules discovered in China to Western markets, but Davis dismissed the idea the company is leaning more toward the Asian country than anywhere else. The CEO said “it just happens to be that the recency bias in the last couple of deals” has skewed toward China.
