Company: MLTX
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001821586-25-000011
Chunk: 108

Company: MoonLake Immunotherapeutics
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 108
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, by security interests in substantially all assets of the Company and material subsidiaries of the Company, including its intellectual property, and will be guaranteed by material subsidiaries of the Company, including foreign subsidiaries, subject to certain exceptions.The above description of the Loan and Security Agreement and Credit Facility is a summary only and is qualified in its entirety by reference to the Loan and Security Agreement, which is filed as an exhibit to this Quarterly Report on Form 10-Q for the quarter ending March 31, 2025.

Note 5 – Fair Value Measurements

The following table presents information about the Company's short-term marketable debt securities measured at fair value on a recurring basis and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement:(in thousands)March 31, 2025December 31, 2024Level 2TotalLevel 2TotalEurocommercial Papers$208,564 $208,564 $207,701 $207,701 Certificates of Deposit— — 119,583 119,583 Total$208,564 $208,564 $327,284 $327,284 Cash and accounts payable approximate their fair values as of March 31, 2025 and December 31, 2024, due to their short-term nature. Pension plan assets fair value is determined based on Level 2 inputs. The fair value of the outstanding long-term debt is estimated using the net present value of the payments, discounted at an interest rate that is consistent with a market interest rate, which is a Level 2 input as it is not actively traded. As of March 31, 2025, total outstanding debt of $73.0 million is reported at amortized cost which approximates the fair value.

Note 6 – Investments

The fair value and amortized cost of investments in short-term marketable debt securities by major security type as of March 31, 2025 and December 31, 2024 are as follows:(in thousands)March 31, 2025Amortized costGross unrealized gainsGross unrealized lossesFair valueEurocommercial Papers$205,913 $2,651 $— $208,564 Total$205,913$2,651$—$208,564Of which classified within short-term marketable debt securities205,913 2,651 — 208,564 

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MOONLAKE IMMUNOTHERAPEUTICSNOTES TO