Company: MLTX
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001821586-25-000006
Chunk: 159

Company: MoonLake Immunotherapeutics
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 159
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 Annual Report on Form 10-K for further details related to the risk of raising additional capital to fund our operations.

85

MOONLAKE IMMUNOTHERAPEUTICSFORM 10-K FOR THE YEAR ENDED DECEMBER 31, 2024PART II

Cash Flows

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

Year Ended December 31, 2024Year Ended December 31, 2023Net cash used in operating activities$(116,587,263)$(42,778,167)Net cash used in investing activities(205,595,299)(25,184,324)Net cash provided by financing activities51,311,708479,701,508Effect of movements in exchange rates on cash held127,966(75,307)Net (decrease) increase in cash and cash equivalents$(270,742,888)$411,663,710 

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 $116.6 million and $42.8 million for the year ended December 31, 2024 and 2023, respectively. The increase of net cash used in operating activities of $73.8 million was primarily driven by the increase in operating loss of $77.2 million and the increase in cash paid for changes in prepaid expenses of $6.5 million. The increases were partially offset by an increase in cash from changes in trade and other payables of $5.6 million and a decrease in cash paid for changes in accrued expenses and other current liabilities of $5.5 million.

Cash Flows from Investing Activities

During the year ended December 31, 2024, net cash used by investing activities was $205.6 million, consisting predominantly of $350.3 million related to the purchase of short-term marketable debt securities, partially offset by $145.2 million in proceeds received from maturities of short-term marketable debt securities with original maturities longer than three months. During the year ended December 31, 2023, net cash used in investing activities was $25.2 million, consisting predominantly of $175.7 million related to the purchase of short-term marketable debt securities, partially offset by