Company: MLTX
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001821586-25-000011
Chunk: 111

Company: MoonLake Immunotherapeutics
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 111
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asse 29, 6300 Zug, Switzerland. The Company estimated the duration of the lease at inception and determined a 3-year term.

17

MOONLAKE IMMUNOTHERAPEUTICSNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2025(Unaudited)

On August 14, 2024, the Company entered into an office lease agreement, effective as of September 8, 2024, to lease approximately 2,000 square feet of additional office space at its existing office located at Rua Manuel Pinto de Azevodo 860, 4150-335, Porto, Portugal. This lease has a 2-year initial term, with two extendable periods of 3 years each. The Company currently expects that it will be extended until October 2029.The weighted average remaining lease term and weighted average discount rate for the operating leases as of March 31, 2025 and December 31, 2024 were as follows:March 31, 2025December 31, 2024Weighted average remaining lease term (in months)2729Weighted average discount rate4.7 %4.7 %The future minimum annual lease payments under these operating leases as of March 31, 2025 are as follows:(in thousands)Year ending December 31,AmountRemainder of fiscal 2025$1,13620261,19720271362028136202992Thereafter—Total lease payments2,697Less imputed interest(123)Total lease liability2,574Less current portion of lease liability(1,432)Long-term portion operating lease liability$1,142Operating cash outflows for amounts included in the measurement of lease liabilities were $368 thousand and $364 thousand for the three months ended March 31, 2025 and 2024, respectively.The Company recorded the following lease and variable lease expenses for the three months ended March 31, 2025 and 2024: (in thousands)Three Months Ended March 31, 2025Three Months Ended March 31, 2024Operating lease expense$364 $349 Variable lease expense11 — Total lease expense$375 $349 

18

MOONLAKE IMMUNOTHERAPEUTICSNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2025(Unaudited)

Note 11 — Employee Benefit Plans