Company: MLTX
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001821586-25-000011
Chunk: 58

Company: MoonLake Immunotherapeutics
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 58
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 tax expense(153)(70)(83)118.6 %Net loss(40,559)(13,975)(26,584)190.2 %Net unrealized gain (loss) on marketable securities and short-term investments(2,756)182 (2,938)(1614.3)%Actuarial gain on employee benefit plans95 81 14 17.3 %Other comprehensive income (loss)(2,661)263 (2,924)(1,111.8)%Comprehensive loss$(43,220)$(13,712)$(29,508)215.2 %

Research and Development

Research and development expenses were $36.5 million for the three months ended March 31, 2025, compared to $13.0 million for the three months ended March 31, 2024. The increase of $23.4 million primarily related to an increase of $15.8 million in expenses pertaining to clinical development trials with CROs, including the Phase 3 VELA program in HS and the Phase 3 IZAR program in PsA, as well as the additional trials in adolescent HS (the VELA-TEEN trial), PPP (the LEDA trial), axSpA (the S-OLARIS trial) and PsA (the P-OLARIS trial), an increase of $3.5 million in manufacturing expenses for products used in clinical trials, an increase of $1.6 million and $1.3 million in consulting expenses and personnel-related costs, respectively, to support the research and development effort, and an increase of $1.2 million related to contracted non-clinical research and development expenses.

General and Administrative

General and administrative expenses were $11.0 million for the three months ended March 31, 2025, compared to $6.8 million for the three months ended March 31, 2024. The increase of $4.2 million primarily related to an increase of $1.6 million in personnel-related costs and an increase of $1.0 million in expenses for advisory and professional services, both to support organizational growth, and an increase of $0.9 million in legal expenses to support the Loan and Security Agreement. 

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Other Income, Net

Other income, net was $7.1 million for the three months ended March 31, 2025, compared to $5.9 million for the three months ended March