STAT+: Why is MoonLake Immunotherapeutics scared of releasing data on its drug candidate?

STAT PlusOpinionAdam’s Take Why is MoonLake Immunotherapeutics scared of releasing data on its drug candidate? In biotech, companies aren’t shy about sharing detailed results when they bolster their case Manage alerts for this article Email this article Share this article By Adam FeuersteinAug. 11, 2026 Adam Feuerstein, a senior writer and biotech columnist, is the author of Adam’s Biotech Scorecard, a subscriber-only newsletter about the crossroads of drug development, business, Wall Street, and biotechnology.

Adam Feuerstein[email protected]Adam Feuerstein is a senior writer and biotech columnist, reporting on the crossroads of drug development, business, Wall Street, and biotechnology. He is also a co-host of the weekly biotech podcast The Readout Loud and author of the newsletter Adam’s Biotech Scorecard. You can reach Adam on Signal at stataf.54.

Biotech companies don’t hide or obfuscate strong data. It’s an old saw but one that I have found to be a reliable predictor of future success or failure, particularly when judging clinical trial results. Yet once again, MoonLake Immunotherapeutics has announced “positive” results from a study of its autoimmune drug candidate marred by a level of data obtuseness that renders the word meaningless.

Advertisement It’s a subject I keep returning to, because with MoonLake it happens again, and again, and again. STAT+ Exclusive Story Already have an account? Log in This article is exclusive to STAT+ subscribers Unlock this article — plus in-depth analysis, newsletters, premium events, and news alerts.

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You can reach Adam on Signal at stataf.54. STAT+ Newsletter Senior writer Adam Feuerstein's unfiltered, uncompromising analysis on the biotech world Recommended Adam's Biotech Scorecard August 6, 2026 STAT Plus: Biotech’s next big bet: A Tenax study of a heart failure treatment Adam's Biotech Scorecard July 16, 2026 STAT Plus: Amylyx nears pivotal endocrine drug study readout Advertisement Adam's Biotech Scorecard July 9, 2026 STAT Plus: 931 days. The drug approval scandal hiding in plain sight Adam's Biotech Scorecard July 2, 2026 STAT Plus: Halfway into the year, biotech is booming Adam's Biotech Scorecard June 18, 2026 STAT Plus: In pancreatic cancer, Patrick Soon-Shiong makes promises he has not kept Subscriber Picks