Company: MLTX
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001821586-25-000018
Chunk: 152

Company: MoonLake Immunotherapeutics
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 2
Chunk 152
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, like us, and broader macroeconomic factors, including recent and potential future disruptions in access to bank deposits or lending commitments due to bank failures, may preclude us from successfully raising additional capital.

If we do not raise additional capital, we may not be able to expand our operations or otherwise capitalize on our business opportunities, our business and financial condition will be negatively impacted and we may need to: significantly delay, scale back or discontinue research and discovery efforts and the development or commercialization of SLK or any other product candidates or cease operations altogether; seek strategic alliances for research and development programs when we otherwise would not, or at an earlier stage than we would otherwise desire or on terms less favorable than might otherwise be available; or relinquish, or license on unfavorable terms, our rights to technologies or SLK or any other product candidates that we otherwise would seek to develop or commercialize ourselves.

Foreign Currency

Our functional currency is the U.S. dollar. Balances and transactions denominated in foreign currencies are converted as follows: monetary assets and liabilities are translated using exchange rates in effect at the balance sheet dates and non-monetary assets and liabilities are translated at historical exchange rates. Income and expenses are translated at the daily exchange rate on the respective transaction date.

Gains or losses from foreign currency translation are included in the condensed consolidated statements of operations and comprehensive loss in “Other income, net”. We recognized a foreign currency transaction gain of $378 thousand and $343 thousand for the three and six months ended June 30, 2025, respectively, and a foreign currency transaction loss of $39 thousand and $99 thousand for the three and six months ended June 30, 2024, respectively.

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Results of Operations

Comparison of the three months ended June 30, 2025 and 2024

(in thousands, except percentages)    Three Months Ended June 30, 2025Three Months Ended June 30, 2024ChangeChange %Operating expensesResearch and development$(49,762)$(23,662)$(26,100)110.3 %General and administrative(10,936)(6,916)(4,020)58.1 %Total operating expenses(60,698)(30,578)(30,120)98.5 %Operating loss(60,698)(30,578)(30,120)98.5 %Interest expense(2,037)— (2,037)100.0 %Other income, net6,779