Biotech companies don’t hide or obfuscate strong data.
In biotech, companies aren’t shy about sharing detailed results when they bolster their case
Molly Ferguson/STAT
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Aug. 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 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.
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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.