Net Loss per Share

12 Months Ended

Dec. 31, 2023

As a result of the Business Combination, the Company has retroactively restated the weighted average number of outstanding prior to April 5, 2022 to give effect to the Exchange Ratio.

The following table sets forth the loss per share calculations for the year ended December 31, 2023 compared to the year ended December 31, 2022:


	Year Ended December 31, 2023	Year Ended December 31, 2022
Numerator
Net loss attributable to controlling interests shareholders		$	(36,007,260)	$	(49,973,249)

Denominator
Total weighted average number of outstanding shares		49,122,534		29,361,353

Net loss per share – basic and diluted		$	(0.73)	$	(1.70)

The weighted average number of shares used to calculate the net loss per share – basic for the year ended December 31, 2023 excludes 2,505,476 Class C Ordinary Shares as they do not carry economic rights.

In the event that ML Parties (other than Biotechnology Value Fund, L.P., Biotechnology Value Fund II, L.P., and Biotechnology Value Trading Fund OS, L.P.) elected to convert their 74,482 MoonLake AG Common Shares into 2,505,476 Class A Ordinary Shares, the weighted average number of shares outstanding would have been 57,679,106 for the year ended December 31, 2023, resulting in a net loss per share of $0.76. Upon conversion, 2,505,476 Class C Ordinary Shares would be forfeited and there would no longer be any non-controlling interests.

Upon conversion, the Company's number of Class A Ordinary Shares outstanding would be 63,886,757 as of February 29, 2024, the date the consolidated financial statements were issued.