Company: MLTX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001821586-25-000022
Chunk: 112

Company: MoonLake Immunotherapeutics
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 112
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 single operating segment, focusing exclusively on the research, development, and eventual commercialization of its product. As the entire Company is centered around these activities, all consolidated parts of the Company are reviewed and analyzed as part of one segment.As of September 30, 2025, the Company's single operating segment had not generated revenue from any programs or services. The accounting policies of the segment are the same as those described in the Note 2 — Basis of Presentation and Significant Accounting Policies section. The measure of segment assets is reported on the condensed consolidated balance sheets as total assets. The measure of segment profit or loss is reported on the condensed consolidated statement of operations and comprehensive loss as net loss. The CODM uses this as a starting point alongside significant non-cash items and working capital changes to evaluate cash burn and determine financial sustainability, cost management patterns and overall business viability as the clinical trials progress. The CODM also uses this to manage operations and ensure the most efficient use of Company resources against current budgets, alignment with strategic goals and preparation of future forecasts. Significant Segment ExpensesThe measure of significant segment expenses is reported in the accompanying condensed consolidated statements of operations and comprehensive loss as “Research and development” and “General and administrative” for the nine months ended September 30, 2025 and 2024, respectively.

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

Non-cash share-based compensation is reported in Note 14 — Share-Based Compensation for the nine months ended September 30, 2025 and 2024, respectively. Non-cash depreciation and amortization for the nine months ended September 30, 2025 and 2024 was $1.9 million and $1.0 million, respectively.Geographical DataLong-lived assets, consisting of property and equipment, net, and operating lease right-of-use assets by geographical area as of September 30, 2025 and December 31, 2024 are as follows:(in thousands)CountrySeptember 30, 2025December 31, 2024Switzerland$395 $610 United Kingdom1,051 1,777 Portugal1,086 1,257 Total$2,532 $3,644 

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis of our financial condition and results of operations