MoonLake Immunotherapeutics
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Research and development | $202.9M | $112.8M | $31.8M | $42.0M | — |
| 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 | — | — |
| Pretax income | -$229.7M | -$121.0M | -$44.0M | -$64.5M | — |
| Income tax expense | $611,000 | $282,000 | $94,000 | $36,366 | — |
| Net income | -$227.3M | -$118.9M | -$36.0M | -$50.0M | -$4.5M |
| Balance Sheet | |||||
| Cash and equivalents | $334.5M | $180.4M | $451.2M | $39.5M | $8.0M |
| Current assets | $421.7M | $474.3M | $514.2M | $76.5M | $9.6M |
| Total assets | $424.4M | $477.9M | $526.5M | $76.8M | $9.7M |
| Current liabilities | $45.5M | $22.5M | $10.0M | $7.7M | $21.1M |
| Total liabilities | $120.0M | $24.5M | $13.0M | $8.1M | $21.3M |
| Stockholders' equity | $304.5M | $446.8M | $495.7M | $48.9M | -$11.6M |
| Cash Flow Statement | |||||
| Cash from operations | -$196.0M | -$116.6M | -$42.8M | -$55.9M | -$611,071 |
| Depreciation and amortization | $2.6M | $1.4M | $370,000 | $164,783 | — |
| Stock-based compensation | $12.9M | $7.3M | $7.1M | $9.7M | — |
| Capital expenditure | $35,000 | $520,000 | $284,000 | $16,009 | — |
| Free cash flow | -$196.0M | -$117.1M | -$43.1M | -$55.9M | — |
| Share repurchases | — | $50 | $0 | $0 | — |
| Impairments | $0 | $0 | $0 | — | — |
Shares outstanding 73.6M · Free float 67.5%
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.