MoonLake Immunotherapeutics

For the period ended Sep 30, 2025. Filed Nov 5, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Nov 5, 2025

MLTX$12.56-0.5%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Changes In E

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

Class A Ordinary Shares · Class C Ordinary Shares · Additional Paid-In Capital · Accumulated Deficit · Accumulated Other Comprehensive Income · Total Shareholders' Equity · Noncontrolling Interests · Total Equity
(in thousands except share data) · Shares · Amount · Shares · Amount
Balance at January 1, 2024	60,466,453	$6	2,505,476	$—	$609,969	$(116,657)	$2,358	$495,676	$17,815	$513,491
Share-based compensation under the Employee Share Participation Plan and MoonLake Immunotherapeutics 2022 Equity Incentive Plan	—	—	—	—	1,693	—	—	1,693	(16)	1,677
Buyback of unvested MoonLake AG Common Shares by MoonLake AG into treasury following an employee contract termination	—	—	—	—	113	—	1	114	(114)	—
Capital injection from MoonLake to MoonLake AG	—	—	—	—	(4,667)	—	—	(4,667)	3,057	(1,610)
Cancellation of MoonLake Class C Ordinary Shares following an employee contract termination in MoonLake AG	—	—	(16,853)	—	—	—	—	—	—	—
Issuance of Class A Ordinary Shares, net of transaction costs	914,828	—	—	—	52,540	—	—	52,540	—	52,540
Net loss for the three months ended March 31, 2024	—	—	—	—	—	(13,673)	—	(13,673)	(302)	(13,975)
Other comprehensive income	—	—	—	—	—	—	257	257	6	263
Conversion of MoonLake Class C Ordinary Shares into Class A Ordinary Shares	1,493,356	—	(1,493,356)	—	10,537	—	76	10,613	(10,613)	—
Balance at March 31, 2024	62,874,637	$6	995,267	$—	$670,185	$(130,330)	$2,692	$542,553	$9,833	$552,386
Share-based compensation under the Employee Share Participation Plan and MoonLake Immunotherapeutics 2022 Equity Incentive Plan	—	$—	—	$—	$1,813	$—	$—	$1,813	$15	$1,828
Other comprehensive income	—	$—	—	$—	$—	$—	$564	$564	$12	$576
Net loss for the three months ended June 30, 2024	—	$—	—	$—	$—	$(24,267)	$—	$(24,267)	$(492)	$(24,759)
Balance at June 30, 2024	62,874,637	$6	995,267	$—	$671,998	$(154,597)	$3,256	$520,663	$9,368	$530,031
Share-based compensation under the Employee Share Participation Plan and MoonLake Immunotherapeutics 2022 Equity Incentive Plan	—	$—	—	$—	$1,828	$—	$—	$1,828	$15	$1,843
Net loss for the three months ended September 30, 2024	—	$—	—	$—	$—	$(35,390)	$—	$(35,390)	$(724)	$(36,114)
Other comprehensive loss	—	$—	—	$—	$—	$—	$(432)	$(432)	$(9)	$(441)
Conversion of MoonLake Class C Ordinary Shares into Class A Ordinary Shares	153,998	$—	(153,998)	$—	$1,336	$—	$9	$1,345	$(1,345)	$—
Options exercised under the MoonLake Immunotherapeutics 2022 Equity Incentive Plan	17,390	$—	—	$—	$91	$—	$—	$91	$—	$91
Refund of stamp duty fees for prior capital injection from MoonLake to MoonLake AG	—	$—	—	$—	$90	$—	$—	$90	$2	$92
Balance at September 30, 2024	63,046,025	$6	841,269	$—	$675,343	$(189,987)	$2,833	$488,195	$7,307	$495,502

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

Class A Ordinary Shares · Class C Ordinary Shares · Additional Paid-In Capital · Accumulated Deficit · Accumulated Other Comprehensive Income · Total Shareholders' Equity · Noncontrolling Interests · Total Equity
(in thousands except share data) · Shares · Amount · Shares · Amount
Balance at January 1, 2025	63,077,431	$6	841,269	$—	$677,415	$(235,593)	$4,997	$446,825	$6,566	$453,391
Share-based compensation under the Employee Share Participation Plan and MoonLake Immunotherapeutics 2022 Equity Incentive Plan	—	—	—	—	2,279	—	—	2,279	11	2,290
Conversion of MoonLake Class C Ordinary Shares into Class A Ordinary Shares	111,949	—	(111,949)	—	841	—	10	851	(851)	—
Options exercised and converted under the Employee Stock Option Plan, net of stamp duty fee	93,347	—	—	—	129	—	—	129	(9)	120
Issuance of Restricted Stock Awards under the MoonLake Immunotherapeutics 2022 Equity Incentive Plan	191,526	—	—	—	—	—	—	—	—	—
Net loss for the three months ended March 31, 2025	—	—	—	—	—	(39,944)	—	(39,944)	(615)	(40,559)
Other comprehensive loss	—	—	—	—	—	—	(2,620)	(2,620)	(41)	(2,661)
Balance at March 31, 2025	63,474,253	$6	729,320	$—	$680,664	$(275,537)	$2,387	$407,520	$5,061	$412,581
Share-based compensation under the Employee Share Participation Plan and MoonLake Immunotherapeutics 2022 Equity Incentive Plan	—	$—	—	$—	$3,298	$—	$—	$3,298	$11	$3,309
Net loss for the three months ended June 30, 2025	—	$—	—	$—	$—	$(55,220)	$—	$(55,220)	$(831)	$(56,051)
Other comprehensive loss	—	$—	—	$—	$—	$—	$(1,867)	$(1,867)	$(28)	$(1,895)
Balance at June 30, 2025	63,474,253	$6	729,320	$—	$683,962	$(330,757)	$520	$353,731	$4,213	$357,944
Share-based compensation under the Employee Share Participation Plan and MoonLake Immunotherapeutics 2022 Equity Incentive Plan	—	$—	—	$—	$3,698	$—	$—	$3,698	$10	$3,708
Net loss for the three months ended September 30, 2025	—	$—	—	$—	$—	$(69,729)	$—	$(69,729)	$(965)	$(70,694)
Other comprehensive loss	—	$—	—	$—	$—	$—	$(244)	$(244)	$(3)	$(247)
Conversion of MoonLake Class C Ordinary Shares into Class A Ordinary Shares	203,142	$—	(203,142)	$—	$968	$—	$2	$970	$(970)	$—
Options exercised under the MoonLake Immunotherapeutics 2022 Equity Incentive Plan	27,149	$—	—	$—	$480	$—	$—	$480	$—	$480
Balance at September 30, 2025	63,704,544	$6	526,178	$—	$689,108	$(400,486)	$278	$288,906	$2,285	$291,191

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