MoonLake Immunotherapeutics MLTX
We are a clinical stage biotechnology company advancing therapies to address significant unmet needs in inflammatory skin and joint diseases. We are currently a single asset company focused on the development of SLK, a novel tri-specific IL-17A and IL-17F inhibiting Nanobody, that we exclusively licensed from MHKDG and that has the potential, based on response levels seen in clinical trials, to drive disease modification in dermatology and rheumatology patients.
SLK is a proprietary Nanobody that was discovered by Ablynx N.V., Belgium, a Sanofi company ("Ablynx"), and previously studied by MHKDG and Avillion LLP ("Avillion") under a 2017 co-development agreement. The terms "Nanobody" and "Nanobodies" used herewith are registered trademarks of Ablynx. Nanobodies are able to bind selectively to a specific antigen with high affinity. Nanobodies have a fraction of the molecular weight compared to traditional antibodies. They offer a number of potential advantages over traditional monoclonal antibodies, including the potential to create multivalent molecules with enhanced ability to penetrate inflamed tissue, especially when containing an additional albumin binding domain such as SLK, an easier manufacturing process and a higher thermostability.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| R&D | $202.9M | $112.8M | $31.8M | $42.0M | — | — |
| SG&A | $42.0M | $30.3M | $22.3M | $23.0M | $4.6M | — |
| Total operating expenses | $244.8M | $143.1M | $54.1M | $65.1M | — | — |
| Operating income | -$244.8M | -$143.1M | -$54.1M | -$65.1M | -$4.6M | — |
| Interest expense | $7.2M | $0 | $0 | — | — | — |
| Pre-tax income | -$229.7M | -$121.0M | -$44.0M | -$64.5M | — | — |
| Income tax | $611.0K | $282.0K | $94.0K | $36.4K | — | — |
| Net income | -$227.3M | -$118.9M | -$36.0M | -$50.0M | -$4.5M | — |
| EPS, basic | -3.53 | -1.89 | -0.73 | -1.70 | — | — |
| EPS, diluted | -3.53 | -1.89 | -0.73 | -1.70 | -0.31 | — |
| Shares, diluted (wtd. avg.) | 64.5M | 62.9M | 49.1M | 29.4M | 360.0M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $334.5M | $180.4M | $451.2M | $39.5M | $8.0M | $0 |
| Short-term investments | $59.5M | $267.6M | $59.8M | $32.6M | $0 | — |
| Total current assets | $421.7M | $474.3M | $514.2M | $76.5M | $9.6M | $1.6M |
| Property, plant and equipment | $577.0K | $722.0K | $320.9K | $49.4K | $45.7K | — |
| Other intangibles | — | — | — | — | — | $5.0M |
| Total assets | $424.4M | $477.9M | $526.5M | $76.8M | $9.7M | $116.6M |
| Short-term debt | — | — | — | $0 | $15.0M | — |
| Total current liabilities | $45.5M | $22.5M | $10.0M | $7.7M | $21.1M | $125.2K |
| Long-term debt | $74.1M | $0 | — | — | — | — |
| Total liabilities | $120.0M | $24.5M | $13.0M | $8.1M | $21.3M | $4.2M |
| Retained earnings | -$462.9M | -$235.6M | -$116.7M | -$80.7M | -$53.6M | -$2.5M |
| Total equity | $304.5M | $446.8M | $513.5M | $68.8M | -$11.6M | $106.5K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$196.0M | -$116.6M | -$42.8M | -$55.9M | -$611.1K | — |
| Depreciation and amortisation | $2.6M | $1.4M | $370.0K | $164.8K | — | — |
| Stock-based compensation | $12.9M | $7.3M | $7.1M | $9.7M | — | — |
| Capital expenditure | $35.0K | $520.0K | $284.0K | $16.0K | — | — |
| Investing cash flow | $203.0M | -$205.6M | -$25.2M | -$32.3M | — | — |
| Financing cash flow | $146.0M | $51.3M | $479.7M | $119.7M | -$58.1K | — |
| Buybacks | — | $0 | $0 | $0 | $80.8M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-015916.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — |
| Net income | — | -$4.5M | -$50.0M | -$36.0M | -$118.9M | -$227.3M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Regulation FD disclosure Item 7.01
- Other event Item 8.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Material agreement signed Item 1.01
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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