Company: MLTX
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001821586-25-000018
Chunk: 27

Company: MoonLake Immunotherapeutics
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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853 Class C Ordinary Shares) previously awarded as part of a share-based compensation program. Since the shares were subsequently sold to MoonLake, the corresponding Class C Ordinary Shares were canceled.

Note 13 — Net Loss per Share

The following table sets forth the net loss per share calculations for the three and six months ended June 30, 2025 and 2024.

22

MOONLAKE IMMUNOTHERAPEUTICSNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2025(Unaudited)

(in thousands, except share and per share data)Three Months Ended June 30, 2025Three Months Ended June 30, 2024Six Months Ended June 30, 2025Six Months Ended June 30, 2024NumeratorNet loss attributable to controlling interests shareholders$(55,220)$(24,267)$(95,165)$(37,940)DenominatorTotal weighted average number of outstanding shares63,282,72862,874,63763,258,39362,755,925Net loss per share – basic and diluted$(0.87)$(0.39)$(1.50)$(0.60)There were 1,576,378 and 959,023 common stock equivalents outstanding in the form of stock options and restricted stock awards under the Equity Incentive Plan (as defined below) as of June 30, 2025 and 2024, respectively, that have been excluded from the calculation of net loss per share – diluted as their effect would be anti-dilutive.Class C Ordinary Shares have been excluded from the weighted average number of outstanding shares used to calculate the net loss per share – basic and diluted as they do not carry economic rights.If the ML Parties elected to convert all of their MoonLake AG Common Shares and associated Class C Ordinary Shares into Class A Ordinary Shares as of January 1, 2024, the weighted average number of shares outstanding would have been 64,012,047 and 64,000,701 for the three and six months ended June 30, 2025, resulting in a net loss per share of $0.88 and $1.51, respectively. Upon conversion, all 729,320 Class C Ordinary Shares would be forfeited and there would no longer be any non-controlling interests.

Note 14 — Share-Based Compensation 

As of June 30, 2025, the Company had the following share-based compensation arrangements:a