Company: MLTX
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001821586-25-000011
Chunk: 124

Company: MoonLake Immunotherapeutics
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 124
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 measure of segment profit or loss is reported on the consolidated statement of operations 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 as "Research and development" and "General and administrative" for the three months ended March 31, 2025 and 2024.Non-cash share-based compensation is reported in Note 14 — Share-Based Compensation for the three months ended March 31, 2025 and 2024. Non-cash depreciation and amortization for the three months ended March 31, 2025 and 2024 was $0.4 million and $0.3 million, respectively.Geographical DataLong-lived assets, consisting of property and equipment, net, and operating lease right-of-use assets by geographical area as of March 31, 2025 are as follows:(in thousands)CountryMarch 31, 2025December 31, 2024Switzerland$539 $610 United Kingdom1,537 1,777 Portugal1,224 1,257 Total$3,300 $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 should be read in conjunction with our unaudited condensed consolidated financial statements as of and for the three months ended March 31, 2025, appearing elsewhere in this quarterly report (“Quarterly Report”) on Form 10-Q, and with our audited financial statements and notes thereto for the year ended December 31, 2024 included in our Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the SEC on February 26, 2025 (our “Annual Report”). Our unaudited condensed consolidated financial statements as of and for three months ended March 31, 2025 were prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") and presented in United States dollars ($).

References to “MoonLake”, “we”, “us”, “our