Company: MLTX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001821586-25-000022
Chunk: 162

Company: MoonLake Immunotherapeutics
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 2
Chunk 162
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ovenants, such as financial covenants and certain events of default after which loans under the Credit Facility may be due and payable immediately. We were in compliance with all covenants as of September 30, 2025. 

We are permitted to use the proceeds of the Credit Facility for working capital and general corporate purposes of the Company and our subsidiaries. 

Cash Flows

The following table summarizes our cash flows for the periods indicated.

Nine Months Ended(in thousands)    September 30, 2025September 30, 2024Net cash used in operating activities$(137,213)$(68,114)Net cash provided by (used in) investing activities232,903(58,265)Net cash provided by financing activities73,60251,161Effect of movements in exchange rates on cash held1,018(296)Net increase (decrease) in cash and cash equivalents$170,310 $(75,514)

Cash Flows from Operating Activities

We did not generate any cash inflows from our operating activities. Our cash flows from operating activities are significantly influenced by our use of cash for operating expenses and working capital requirements, and we have historically experienced negative cash flows from operating activities as we invested in clinical research and related development.

Net cash used in operating activities was $137.2 million and $68.1 million for the nine months ended September 30, 2025 and September 30, 2024, respectively. The increase of net cash used in operating activities of $69.1 million was primarily driven by the increase in net loss of $92.5 million and an increase in cash paid for changes in other non-

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current assets of $0.6 million. The increase in cash outflows was partially offset by a decrease in cash paid for changes in accrued expenses and other current liabilities of $8.5 million, an increase in cash inflows from changes in trade and other payables of $7.4 million, and a decrease in cash paid for changes in prepaid expenses of $4.2 million.

Cash Flows from Investing Activities

During the nine months ended September 30, 2025, net cash provided by investing activities was $232.9 million, consisting predominantly of $439.1 million in proceeds received from maturities of short-term marketable debt securities with original maturities longer than three months, partially offset by $206.2 million related to the purchase of short-term marketable debt securities. During the nine months ended