Company: MLTX
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001821586-25-000011
Chunk: 32

Company: MoonLake Immunotherapeutics
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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 lease payments2,697Less imputed interest(123)Total lease liability2,574Less current portion of lease liability(1,432)Long-term portion operating lease liability$1,142Operating cash outflows for amounts included in the measurement of lease liabilities were $368 thousand and $364 thousand for the three months ended March 31, 2025 and 2024, respectively.The Company recorded the following lease and variable lease expenses for the three months ended March 31, 2025 and 2024: (in thousands)Three Months Ended March 31, 2025Three Months Ended March 31, 2024Operating lease expense$364 $349 Variable lease expense11 — Total lease expense$375 $349 

18

MOONLAKE IMMUNOTHERAPEUTICSNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2025(Unaudited)

Note 11 — Employee Benefit Plans 

The Company operates a defined benefit pension plan in Switzerland (the "Plan”) and a defined contribution pension plan in the United Kingdom, in accordance with local regulations and practices. As of March 31, 2025, the Plan covers the Company’s employees in Switzerland with benefits in the event of death, disability, retirement, or termination of employment. Components of Net Periodic Benefit Cost under the Plan(in thousands)Three Months Ended March 31, 2025Three Months Ended March 31, 2024Service Cost$76$71Interest Cost88Expected return on plan assets(19)(15)Amortization of unrecognized loss33Prior service (credit) recognized in current year(2)(3)Net periodic benefit cost$66$64The components of net periodic benefit cost other than the service cost component are included in general and administrative expense in the Company's condensed consolidated statements of operations and comprehensive loss.Employer Contributions under the PlanFor the three months ended March 31, 2025, contributions of $70 thousand (CHF 63 thousand) were made to the Plan. The Company presently anticipates contributing an additional estimated amount of $210 thousand (CHF 189 thousand) to fund the Plan in 2025 for a total of $280 thousand (CHF 252 thousand).

Note 12 — Shareholders’ Equity

Class A Ordinary Shares(1)Class C Ordinary Shares(1)Total Number of Ordinary SharesAuthorizedIssued and OutstandingAuthorizedIssued and OutstandingAuthorizedIssued and OutstandingBalance at January