Company: MLTX
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001821586-25-000018
Chunk: 156

Company: MoonLake Immunotherapeutics
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 2
Chunk 156
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, 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 $13.9 million for the six months ended June 30, 2025, compared to $11.8 million for the six months ended June 30, 2024. The increase in income of $2.1 million, or 17.5%, is primarily related to an increase of $1.7 million in realized interest on cash held in bank and cash investments in short-term marketable debt securities, an increase of $1.3 million in net realized currency gains, partially offset by an increase of $0.9 million in net unrealized currency losses.

Income Tax Expense

Income tax expense was $0.2 million for the six months ended June 30, 2025, compared to $0.1 million for the six months ended June 30, 2024. The expense for each period is related to corporate income tax of our subsidiaries in the U.K. and Portugal.

Other Comprehensive Income (Loss)

Other comprehensive loss was $4.6 million for the six months ended June 30, 2025, compared to other comprehensive income of $0.8 million for the six months ended June 30, 2024. The decrease in other comprehensive income of $5.4 million, or 643.0%, is primarily related to a decrease in net unrealized gain in short-term marketable debt securities.

Liquidity and Capital Resources

We have no products approved for commercial sale, have not generated any revenue from product sales, and cannot guarantee when or if we will generate any revenue from product sales. 

We expect our expenses and capital requirements to remain consistent with our current spending levels as we continue to:

•contract with third parties, including CROs and CMOs, to support the clinical trials of SLK, including trials in HS, PsA, adolescent HS, PPP and axSpA;

•conduct other research and development activities related to SLK;

•prepare for regulatory filing and commercialization of SLK;

•attract, hire and retain additional management, scientific and administrative personnel;

•maintain, protect and expand our intellectual property portfolio, including patents, trade secrets and know how;

•implement operational, financial and management information systems; and

•operate as a public company.

For the six months ended June 30, 2025, we incurred a loss of $96