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.

It’s a subject I keep returning to, because with MoonLake it happens again, and again, and again.