Company: MLTX
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001821586-25-000018
Chunk: 19

Company: MoonLake Immunotherapeutics
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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-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)June 30, 2025December 31, 2024Level 2TotalLevel 2TotalEurocommercial Papers$59,075 $59,075 $207,701 $207,701 Certificates of Deposit59,327 59,327 119,583 119,583 Total$118,402 $118,402 $327,284 $327,284 Cash and accounts payable approximate their fair values as of June 30, 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 June 30, 2025, total outstanding debt of $73.4 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 June 30, 2025 and December 31, 2024 are as follows:(in thousands)June 30, 2025Amortized costGross unrealized gainsGross unrealized lossesFair valueEurocommercial Papers$58,731 $344 $— $59,075 Certificates of Deposit58,928 399 — 59,327 Total$117,659$743$—$118,402Of which classified within short-term marketable debt securities117,659 743 — 118,402 (in thousands)December 31, 2024Amortized costGross unrealized gainsGross unrealized lossesFair valueEurocommercial Papers$204,572 $3,129 $— $207,701 Certificates of Deposit117,305 2,278 — 119,583 Total$321,877$5,407$—$327,284Of which classified within cash and cash equivalents59,311 372 — 59,683 Of which classified within short-term marketable debt securities262,566 5,035 — 267,601