XML 57 R39.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Share-based Compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount | The share-based compensation expense was driven by the following share-based compensation plans and programs:
Compensation Plan |  |  |  |  |  | Year Ended December 31, 2023 |  | Year Ended December 31, 2022
MoonLake AG Restricted Founder Shares |  |  |  |  |  | $ | 1,574,300 |  |  | $ | 4,840,608 |
ESPP |  |  |  |  |  | 3,352,885 |  | 3,910,076
ESOP |  |  |  |  |  | 973,868 |  |  | 539,713
MoonLake Immunotherapeutics 2022 Equity Incentive Plan |  |  |  |  |  | 1,204,952 |  | 364,381
Total share-based compensation expense |  |  |  |  |  | $ | 7,106,005 |  |  | $ | 9,654,778 |
Of which: included in research and development expense |  |  |  |  |  | 1,524,715 |  |  | 954,379 |
Of which: included in general and administrative expense |  |  |  |  |  | 5,581,290 |  |  | 8,700,399 |
Schedule of Share-Based Payment Award, Non-Option Equity Instruments, Valuation Assumptions | The assumptions used in the valuation of the Restricted Founder Shares awarded are summarized below:
Grant date | 4/28/2021
Estimated fair value of Restricted Founder Shares on the grant date (USD) (1) | 49
Estimated fair value of Restricted Founder Shares on the resignation date of one of the co-founders (USD) (2) | 336.39
Purchase price (CHF) | 0.10
(1) MoonLake AG estimated the fair value of the Restricted Founder Shares with reference to the market-based transaction with the other Series A Preferred Shares Investors (refer to Note 9 of MoonLake AG's audited consolidated financial statements for the year ended December 31, 2021, as filed by Helix Acquisition Corp. together with its revised definitive proxy soliciting materials with the SEC on March 4, 2022).
(2) MoonLake AG estimated the fair value of the Restricted Founder Shares at co-founder’s resignation date by dividing the Company Enterprise Value ($360,000,000) as defined by the Business Combination Agreement by the Company’s fully diluted shares (1,070,196).
Nonvested Restricted Stock Shares Activity |
Grants awarded |
Program | Restricted Founder Shares
Awards unvested as of January 1, 2022 | 4,440,309
Awards vested for the year ended December 31, 2022 | (3,330,231)
Awards unvested as of January 1, 2023 | 1,110,078
Awards vested for the year ended December 31, 2023 | (1,110,078)
Awards unvested as of December 31, 2023 | 0
Schedule of Nonvested Share Activity |
ESPP 2021 |
Assumptions for the awards issued during the year ended December 31, 2022
Grant date | 01/18/2022
Estimated fair value per share of Common Shares on the grant date ($) (1) | 336.39
Purchase price (CHF) | 0.10
(1) MoonLake AG estimated the fair value of the Common Shares by dividing the Company Enterprise Value (USD 360,000,000) as defined by the Business Combination Agreement by the Company’s fully diluted shares (1,070,196).
Grants awarded |
Program | ESPP
Awards outstanding as of January 1, 2022 | 1,060,561
Additional awards granted for the year ended December 31, 2022 | 1,177,354
Awards outstanding as of January 1. 2023 | 2,237,915
Of which vested as of January 1, 2023 | 307,794
Awards granted for the year ended December 31, 2023 | —
Awards outstanding as of December 31, 2023 | 2,237,915
Of which vested as of December 31, 2023 | 1,607,425
Schedule of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions |
ESPP 2021 |
Assumptions for the awards issued during the year ended December 31, 2022
Grant date | 01/18/2022
Estimated fair value per share of Common Shares on the grant date ($) (1) | 336.39
Purchase price (CHF) | 0.10
(1) MoonLake AG estimated the fair value of the Common Shares by dividing the Company Enterprise Value (USD 360,000,000) as defined by the Business Combination Agreement by the Company’s fully diluted shares (1,070,196).
Grants awarded |
Program | ESPP
Awards outstanding as of January 1, 2022 | 1,060,561
Additional awards granted for the year ended December 31, 2022 | 1,177,354
Awards outstanding as of January 1. 2023 | 2,237,915
Of which vested as of January 1, 2023 | 307,794
Awards granted for the year ended December 31, 2023 | —
Awards outstanding as of December 31, 2023 | 2,237,915
Of which vested as of December 31, 2023 | 1,607,425
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions |
ESOP 2021 |
Weighted average assumptions for the awards issued during the year ended December 31, 2022
Grant dates | 5/1/2022, 6/22/2022
Estimated fair value of the option on the grant date using Black-Scholes model ($) | 4.21
Exercise price (USD) | 3.64
Expected term of the award on the grant date (years) (1) | 6
Expected volatility of the share price (2) | 75%
Risk-free interest rate (3) | 3%
Expected dividend rate | —%
(1) The expected term represents the period that share-based awards are expected to be outstanding. (2) The expected volatility was derived from the historical stock volatilities of comparable peer public companies within the Company’s industry. (3) The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the measurement date with maturities approximately equal to the expected term.
Weighted average assumptions for the awards issued during the year ended December 31, 2023
Grant dates | 01/01/2023, 04/24/2023, 07/03/2023, 07/17/2023, 08/01/2023, 08/07/2023, 08/21/2023, 08/29/2023, 09/01/2023, 09/11/2023
Estimated fair value of the option on the grant date using Black-Scholes model ($) | 25.5
Exercise price (USD) | 37.1
Expected term of the award on the grant date (years) (1) | 6
Expected volatility of the share price (2) | 75%
Risk-free interest rate (3) | 4%
Expected dividend rate | —%
(1) The expected term represents the period that share-based awards are expected to be outstanding. (2) The expected volatility was derived from the historical stock volatilities of comparable peer public companies within the Company’s industry. (3) The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the measurement date with maturities approximately equal to the expected term.
Weighted average assumptions for the awards issued during the year ended December 31, 2022
Grant date | 4/6/2022
Estimated fair value of the option on the grant date using Black-Scholes model ($) | 8.25
Exercise price ($) | 12.25
Expected term of the award on the grant date (years) (1) | 6
Expected volatility of the share price (2) | 75%
Risk-free interest rate (3) | 3%
Expected dividend rate | -
(1)The expected term represents the period that share-based awards are expected to be outstanding. (2) The expected volatility was derived from the historical stock volatilities of comparable peer public companies within the Company's industry. (3) The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the measurement date with maturities approximately equal to the expected term.
Weighted average assumptions for the awards issued during the year ended December 31, 2023
Grant dates | 06/08/2023, 10/11/2023, 10/25/2023, 11/01/2023, 11/06/2023, 11/15/2023, 11/16/2023, 11/20/2023, 11/27/2023, 12/01/2023, 12/04/2023
Estimated fair value of the option on the grant date using Black-Scholes model ($) | 25.58
Exercise price ($) | 37.22
Expected term of the award on the grant date (years) (1) | 6
Expected volatility of the share price (2) | 0.75
Risk-free interest rate (3) | 4%
Expected dividend rate | 0
(1)The expected term represents the period that share-based awards are expected to be outstanding. (2) The expected volatility was derived from the historical stock volatilities of comparable peer public companies within the Company's industry. (3) The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the measurement date with maturities approximately equal to the expected term.
Share-Based Payment Arrangement, Option, Activity |
Grants awarded |  |
Program | ESOP |
Awards issued as of January 1, 2022 | 224,033 |
Additional awards granted for the year ended December 31, 2022 | 242,736 |
Awards issued as of January 1, 2023 | 466,769 |
Awards granted for the year ended December 31, 2023 | 133,446 |
Awards forfeited for the year ended December 31, 2023 | (15,137) |
Awards outstanding at December 31, 2023 | 585,078 |
Of which exercisable as of December 31, 2023 | 219,223 |
Grants awarded |  |
Program | MoonLake Immunotherapeutics 2022 Equity Incentive Plan
Awards issued as of January 1, 2022 |  | —
Awards granted for the year ended December 31, 2022 | 180,000
Awards issued as of December 31, 2022 |  | 180,000
Awards exercisable as of December 31, 2022 | —
Awards granted for the year ended December 31, 2023 | 132,400
Awards issued as of December 31, 2023 | 312,400
Awards exercisable as of December 30, 2023 | 60,000

X
- Definition Schedule of Share-Based Payment Award, Non-Option Equity Instruments, Valuation Assumptions + References No definition available. + Details
Name: | mnlk_ScheduleOfShareBasedPaymentAwardNonOptionEquityInstrumentsValuationAssumptionsTableTextBlock
Namespace Prefix: | mnlk_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Subparagraph (c) -Paragraph 2 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_NonvestedRestrictedStockSharesActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardEmployeeStockPurchasePlanValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration