Company: MLTX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001821586-25-000022
Chunk: 21

Company: MoonLake Immunotherapeutics
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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, and will be guaranteed by material subsidiaries of the Company, including foreign subsidiaries, subject to certain exceptions.

Note 5 – Fair Value Measurements

The following table presents information about the Company's short-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)September 30, 2025December 31, 2024Level 2TotalLevel 2TotalEurocommercial Papers$29,743 $29,743 $207,701 $207,701 Certificates of Deposit— — 119,583 119,583 Total$29,743 $29,743 $327,284 $327,284 Cash and accounts payable approximate their fair values as of September 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 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 September 30, 2025, long-term debt of $73.7 million is reported at amortized cost which approximates the fair value.

16

MOONLAKE IMMUNOTHERAPEUTICSNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS SEPTEMBER 30, 2025(Unaudited)

Note 6 – Investments

The fair value and amortized cost of investments in short-term marketable debt securities by major security type as of September 30, 2025 and December 31, 2024 are as follows:(in thousands)September 30, 2025Amortized costGross unrealized gainsGross unrealized lossesFair valueEurocommercial Papers$29,256 $487 $— $29,743 Total$29,256$487$—$29,743Of which classified within short-term marketable debt securities29,256 487 — 29,743 (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