MLTX

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MoonLake Immunotherapeutics

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Key Metrics

Previous Close: $16.74
52-Week Range: $5.95 – $62.75
Market Cap: $1.35B
P/E (TTM): —
EPS (TTM): -3.84
Dividend Yield: —

Advanced Metrics

Price/Book: 3.10
PEG Ratio: —
Return on Equity: -67.47%
Return on Assets: -32.44%
Gross Margin: 0.00%
Operating Margin: 0.00%
Profit Margin: 0.00%
Current Ratio: 12.56
Debt/Equity: 0.24
Total Debt: $101.53M
Free Cash Flow: $-131.86M
Revenue Growth: —
Earnings Growth: —
Enterprise Value: $989.19M

MLTX Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$0.00	$0.00	$0.00	$0.00
Research & Development	$42.05M	$31.80M	$112.77M	$202.86M
Selling, General & Admin	$23.01M	$22.32M	$30.32M	$41.97M
Operating Expenses	$65.06M	$54.12M	$143.09M	$244.83M
Operating Income	-$65.06M	-$54.12M	-$143.09M	-$244.83M
EBITDA	-$64.90M	-$43.62M	-$119.58M	-$219.85M
Pretax Income	-$64.47M	-$43.98M	-$120.96M	-$229.71M
Income Tax	$36.37K	$94.00K	$282.00K	$611.00K
Net Income	-$49.97M	-$36.01M	-$118.94M	-$227.32M
Diluted EPS	-1.28	-0.73	-1.89	-3.53
Diluted Shares	38.98M	49.12M	62.87M	64.46M

MLTX Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$39.51M	$451.17M	$180.43M	$334.52M
Receivables	$217.13K	$1.06M	$2.84M	$4.87M
Current Assets	$76.51M	$514.17M	$474.29M	$421.69M
Total Assets	$76.84M	$526.54M	$477.93M	$424.43M
Current Liabilities	$7.67M	$9.97M	$22.46M	$45.48M
Long-Term Debt	—	—	—	$74.10M
Total Debt	$282.58K	$3.70M	$2.83M	$75.71M
Total Liabilities	$8.08M	$13.05M	$24.54M	$119.95M
Retained Earnings	-$80.65M	-$116.66M	-$235.59M	-$462.91M
Shareholders' Equity	$48.90M	$495.68M	$446.82M	$304.48M
Working Capital	$68.85M	$504.20M	$451.83M	$376.22M

MLTX Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$55.89M	-$42.78M	-$116.59M	-$196.01M
Capital Expenditure	-$16.01K	-$284.00K	-$520.00K	-$35.00K
Free Cash Flow	-$55.91M	-$43.06M	-$117.11M	-$196.04M
Depreciation & Amortisation	$164.78K	$370.00K	$1.39M	$2.62M
Stock-Based Compensation	$9.65M	$7.11M	$7.28M	$12.90M
Investing Cash Flow	-$32.34M	-$25.18M	-$205.60M	$202.99M
Financing Cash Flow	$119.69M	$479.70M	$51.31M	$146.00M
Share Repurchases	$0.00	$0.00	-$50.00	—
Net Change in Cash	$31.46M	$411.74M	-$270.87M	$152.98M

MLTX Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$0.00	$0.00	$0.00	$0.00	$0.00
Research & Development	$36.46M	$49.76M	$60.63M	$56.01M	$54.52M
Selling, General & Admin	$11.03M	$10.94M	$10.80M	$9.21M	$15.51M
Operating Expenses	$47.48M	$60.70M	$71.43M	$65.22M	$70.02M
Operating Income	-$47.48M	-$60.70M	-$71.43M	-$65.22M	-$70.02M
EBITDA	-$40.01M	-$53.18M	-$66.64M	-$60.02M	-$65.97M
Pretax Income	-$40.41M	-$55.96M	-$70.58M	-$62.77M	-$69.08M
Income Tax	$153.00K	$95.00K	$115.00K	$248.00K	$622.00K
Net Income	-$39.94M	-$55.22M	-$69.73M	-$62.43M	-$69.71M
Diluted EPS	-0.63	-0.87	-1.10	—	-0.98
Diluted Shares	63.23M	63.28M	63.37M	—	71.27M

MLTX Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$271.57M	$306.68M	$350.74M	$334.52M	$298.49M
Receivables	$2.99M	$3.41M	$4.02M	$4.87M	$5.76M
Current Assets	$506.26M	$455.48M	$411.21M	$421.69M	$396.64M
Total Assets	$511.26M	$460.10M	$414.33M	$424.43M	$400.37M
Current Liabilities	$23.98M	$27.36M	$48.37M	$45.48M	$46.11M
Long-Term Debt	$73.02M	$73.38M	$73.74M	$74.10M	$99.02M
Total Debt	$75.60M	$75.77M	$75.73M	$75.71M	$100.80M
Total Liabilities	$98.68M	$102.15M	$123.14M	$119.95M	$146.35M
Retained Earnings	-$275.54M	-$330.76M	-$400.49M	-$462.91M	-$532.62M
Shareholders' Equity	$407.52M	$353.73M	$288.91M	$304.48M	$254.02M
Working Capital	$482.28M	$428.12M	$362.85M	$376.22M	$350.53M

MLTX Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$38.14M	-$54.53M	-$44.54M	-$58.79M	-$66.29M
Capital Expenditure	-$35.00K	—	—	—	—
Free Cash Flow	-$38.17M	-$54.53M	-$44.54M	-$58.79M	-$66.29M
Depreciation & Amortisation	$378.00K	$742.00K	$745.00K	$751.00K	$845.00K
Stock-Based Compensation	$2.29M	$3.31M	$3.71M	$3.59M	$13.36M
Investing Cash Flow	$56.25M	$88.25M	$88.40M	-$29.91M	$98.00K
Financing Cash Flow	$73.12M	$0.00	$480.00K	$72.39M	$30.64M
Net Change in Cash	$91.23M	$33.72M	$44.34M	-$16.31M	-$35.54M

Market Snapshot

About

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company developing nanobody-based therapies for inflammatory diseases. The company's lead candidate targets IL-17A and IL-17F cytokines, aiming to treat conditions such as hidradenitis suppurativa, psoriatic arthritis, and psoriasis. MoonLake leverages its Nanobody technology platform for novel therapeutic approaches.