STAT+: 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 Molly Ferguson/STAT 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 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 f