This data, expected in September, pertains to the company's lead candidate, sonelokimab (SLK), for the treatment of hidradenitis suppurativa (HS), a chronic skin condition. Earlier this month, Moonlake Immunotherapeutics announced its financial results for the first quarter of 2025. The company has successfully completed enrollment for the VELA program, achieving this milestone approximately 40% faster than previous industry benchmarks. Financial metrics from InvestingPro show the company maintains a strong current ratio of 21.11, with liquid assets well exceeding short-term obligations. While not currently profitable, the company's overall financial health score is rated as 'Fair'. This efficiency in enrollment could signal a strong execution capability by the company's team. The analyst from H.C. Wainwright pointed out that Moonlake Immunotherapeutics has disclosed the baseline characteristics of the patient population in the VELA studies.