Company: MLTX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001821586-25-000022
Chunk: 109

Company: MoonLake Immunotherapeutics
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 109
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.55n/an/aAwards outstanding as of September 30, 20251,440,740$31.15$1,6038.15Awards exercisable as of September 30, 2025566,602$17.42$1,1686.85The aggregate intrinsic value represents the difference between the exercise price and the selling price received by option holders upon the exercise of stock options during the period. The total intrinsic value of options exercised was $0.9 million and $0.7 million for the three months ended September 30, 2025 and 2024, respectively.As of September 30, 2025, the Company had $19.8 million of total unrecognized compensation expense related to options under the Equity Incentive Plan that will be recognized over the weighted average period of 2.94 years.Weighted average assumptions for the awards issued during the nine months ended September 30, 2025Estimated fair value of the option on the grant date using Black-Scholes model ($)29.65Exercise price ($)43.19Expected term of the award on the grant date (years) (1)6Expected volatility of the share price (2)75%Risk-free interest rate (3)4.4%Expected dividend rate—%(1) The expected term represents the period that share-based awards are expected to be outstanding.(2) The expected volatility was derived from the historical stock volatilities of comparable peer public companies within the Company’s industry.(3) The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the measurement date with maturities approximately equal to the expected term.

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

Weighted average assumptions for the awards issued during the nine months ended September 30, 2024Estimated fair value of the option on the grant date using Black-Scholes model ($)31.31Exercise price ($)45.63Expected term of the award on the grant date (years) (1)6Expected volatility of the share price (2)75%Risk-free interest rate (3)4.3%Expected dividend rate—%(1) The expected term represents the period that share-based awards are expected to be outstanding.(2) The expected volatility was derived from the historical stock volatilities of comparable peer public companies within the Company’s industry.(3