Company: MLTX
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001821586-25-000018
Chunk: 50

Company: MoonLake Immunotherapeutics
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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 $2.0 million, or 100.0%, for the three months ended June 30, 2025, compared to $nil for the three months ended June 30, 2024. The interest expense during the current period is related to recognized interest on the new Loan and Security Agreement.

Other Income, Net

Other income, net was $6.8 million for the three months ended June 30, 2025, compared to $5.9 million for the three months ended June 30, 2024. The increase in income of $0.9 million, or 14.9%, primarily related to an increase of $1.0 million in net realized currency gains and an increase of $0.5 million in realized interest on cash held in bank and cash investments in short-term marketable debt securities, partially offset by an increase of $0.6 million in net unrealized currency losses.

Income Tax Expense

Income tax expense was $0.1 million for the three months ended June 30, 2025 and 2024. The expense is related to corporate income tax of our subsidiaries in the U.K. and Portugal.

Other Comprehensive Income (Loss)

Other comprehensive loss was $1.9 million for the three months ended June 30, 2025, compared to other comprehensive income of $0.6 million for the three months ended June 30, 2024. The decrease in other comprehensive income of $2.5 million, or (429.0)%, is primarily related to a decrease in net unrealized gain in short-term marketable debt securities.

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Comparison of the six months ended June 30, 2025 and 2024

(in thousands, except percentages)    Six Months Ended June 30, 2025Six Months Ended June 30, 2024ChangeChange %Operating expensesResearch and development$(86,221)$(36,676)$(49,545)135.1 %General and administrative(21,962)(13,723)(8,239)60.0 %Total operating expenses(108,183)(50,399)(57,784)114.7 %Operating loss(108,183)(50,399)(57,784)114.7 %Interest expense(2,056)— (2,056)100.0 %Other income, net13,876 11,814 2,062 17.5 %Loss before income tax(96