Company: MLTX
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001821586-25-000018
Chunk: 29

Company: MoonLake Immunotherapeutics
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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 of this administrative conversion, the two plans which remain active as of June 30, 2025 are the ESPP and Equity Incentive Plan, whereas the Restricted Founder Shares and ESOP are fully vested as of April 2023 and January 2024, respectively.For the three and six months ended June 30, 2025, the Company has recognized an increase in equity in the unaudited condensed consolidated balance sheets and share-based compensation expense in the unaudited condensed consolidated statements of operations and comprehensive loss of $3.3 million and $5.6 million, respectively, and $1.8 million and $3.5 million for the three and six months ended June 30, 2024, respectively. The share-based compensation expense was driven by the aforementioned two active share-based compensation plans and programs:(in thousands)Compensation PlanThree Months Ended June 30, 2025Three Months Ended June 30, 2024Six Months Ended June 30, 2025Six Months Ended June 30, 2024ESPP$733 $733 $1,458 $1,450 ESOP— — (18)— MoonLake Immunotherapeutics 2022 Equity Incentive Plan2,576 1,095 4,159 2,055 Total share-based compensation expense$3,309 $1,828 $5,599 $3,505 Of which: included in research and development expense905 520 1,532 937 Of which: included in general and administrative expense2,404 1,308 4,067 2,568 We expect that all future employee awards will be made under the Equity Incentive Plan. As of June 30, 2025, 2,635,427 Class A Ordinary Shares from the authorized pool of 4,353,948 Class A Ordinary Shares remain available for future grants, and 1,384,852 Class A Ordinary Shares are reserved for issuance upon exercise of stock options granted under the Equity Incentive Plan.

24

MOONLAKE IMMUNOTHERAPEUTICSNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2025(Unaudited)

MoonLake AG - Restricted Founder Shares  On April 28, 2021, the shareholders’ agreement between the co-founders, the Series A investors and MoonLake AG imposed a reverse vesting condition on 90%