Company: MLTX
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001821586-25-000018
Chunk: 153

Company: MoonLake Immunotherapeutics
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 2
Chunk 153
---
5,898 881 14.9 %Loss before income tax(55,956)(24,680)(31,276)126.7 %Income tax expense(95)(79)(16)20.3 %Net loss(56,051)(24,759)(31,292)126.4 %Net unrealized gain (loss) on marketable securities and short-term investments(1,908)652 (2,560)(392.6)%Actuarial gain (loss) on employee benefit plans13 (76)89 (117.1)%Other comprehensive income (loss)(1,895)576 (2,471)(429.0)%Comprehensive loss$(57,946)$(24,183)$(33,763)139.6 %

Research and Development

Research and development expenses were $49.8 million for the three months ended June 30, 2025, compared to $23.7 million for the three months ended June 30, 2024. The increase of $26.1 million, or 110.3%, is 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 $6.1 million in manufacturing, supply and logistics expenses, increases of $1.4 million and $1.3 million in consulting expenses and personnel-related costs, respectively, to support the research and development effort, and an increase of $1.3 million related to contracted non-clinical research and development expenses.

General and Administrative

General and administrative expenses were $10.9 million for the three months ended June 30, 2025, compared to $6.9 million for the three months ended June 30, 2024. The increase of $4.0 million, or 58.1%, is primarily related to an increase of $2.5 million in personnel-related costs and an increase of $1.6 million in advisory and legal expenses, both to support organizational growth. 

38

Interest Expense

Interest expense was $2.0 million, or 100