Company: MLTX
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001821586-25-000018
Chunk: 126

Company: MoonLake Immunotherapeutics
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 126
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 the U.K. and Portugal.

Other Comprehensive Income (Loss)

Other comprehensive loss was $1.9 million for the three months ended June 30, 2025, compared to other comprehensive income of $0.6 million for the three months ended June 30, 2024. The decrease in other comprehensive income of $2.5 million, or (429.0)%, is primarily related to a decrease in net unrealized gain in short-term marketable debt securities.

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

(in thousands, except percentages)    Six Months Ended June 30, 2025Six Months Ended June 30, 2024ChangeChange %Operating expensesResearch and development$(86,221)$(36,676)$(49,545)135.1 %General and administrative(21,962)(13,723)(8,239)60.0 %Total operating expenses(108,183)(50,399)(57,784)114.7 %Operating loss(108,183)(50,399)(57,784)114.7 %Interest expense(2,056)— (2,056)100.0 %Other income, net13,876 11,814 2,062 17.5 %Loss before income tax(96,363)(38,585)(57,778)149.7 %-Income tax expense(248)(149)(99)66.4 %Net loss(96,611)(38,734)(57,877)149.4 %Net unrealized gain (loss) on marketable securities and short-term investments(4,664)834 (5,498)(659.2)%Actuarial gain on employee benefit plans108 5 103 2,060.0 %Other comprehensive income (loss)(4,556)839 (5,395)(643.0)%Comprehensive loss$(101,167)$(37,895)$(63,272)167.0 %

Research and Development

Research and development expenses were $86.2 million for the six months ended June 30, 2025, compared to $36.7 million for the six months ended June 30, 2024. The increase of $49.5 million, or 135.1%, is primarily related to an increase of $31.7 million in expenses pertaining to clinical development trials with CRO