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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

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Schedule of Share-Based Payment Award, Non-Option Equity Instruments, Valuation Assumptions

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Tabular disclosure of the changes in outstanding nonvested restricted stock shares.

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