Company: MLTX
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001821586-25-000018
Chunk: 51

Company: MoonLake Immunotherapeutics
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 51
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,363)(38,585)(57,778)149.7 %-Income tax expense(248)(149)(99)66.4 %Net loss(96,611)(38,734)(57,877)149.4 %Net unrealized gain (loss) on marketable securities and short-term investments(4,664)834 (5,498)(659.2)%Actuarial gain on employee benefit plans108 5 103 2,060.0 %Other comprehensive income (loss)(4,556)839 (5,395)(643.0)%Comprehensive loss$(101,167)$(37,895)$(63,272)167.0 %

Research and Development

Research and development expenses were $86.2 million for the six months ended June 30, 2025, compared to $36.7 million for the six months ended June 30, 2024. The increase of $49.5 million, or 135.1%, is primarily related to an increase of $31.7 million in expenses pertaining to clinical development trials with CROs, including the Phase 3 VELA program in HS and the Phase 3 IZAR program in PsA, as well as the VELA-TEEN trial, the LEDA trial, the S-OLARIS trial and the P-OLARIS trial, an increase of $9.4 million in manufacturing, supply, and logistics expenses, increases of $3.1 million and $2.6 million in consulting expenses and personnel-related costs, respectively, to support the research and development effort, and an increase of $2.6 million related to contracted non-clinical research and development expenses. 

General and Administrative

General and administrative expenses were $22.0 million for the six months ended June 30, 2025, compared to $13.7 million for the six months ended June 30, 2024. The increase of $8.3 million, or 60.0%, is primarily related to an increase of $3.5 million in advisory and legal expenses, an increase of $4.5 million in personnel-related costs, both to support organizational growth, and an increase of $0.5 million for marketing and communication expenses. 

40

Interest Expense

Interest expense was $2.1 million, or 100.0%, for the six months ended June 30, 2025, compared to $