XML 47 R36.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Share-Based Compensation (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of share-based compensation expense driven by share-based compensation plans and programs | The share-based compensation expense was driven by the aforementioned two main active share-based compensation plans and programs:
Compensation Plan |  | Three Months Ended June 30, 2024 |  | Three Months Ended June 30, 2023 |  | Six Months Ended June 30, 2024 |  | Six Months Ended June 30, 2023
MoonLake AG Restricted Founder Shares |  | $ | — |  |  | $ | 364,218 |  |  | $ | — |  |  | $ | 1,574,300 |
ESPP |  | 733,098 |  |  | 771,313 |  |  | 1,450,402 |  | 1,828,267
ESOP |  | — |  |  | 171,058 |  |  | — |  |  | 359,297
Equity Incentive Plan |  | 1,095,147 |  |  | 191,072 |  |  | 2,055,051 |  | 312,984
Total share-based compensation expense |  | $ | 1,828,245 |  |  | $ | 1,497,661 |  |  | $ | 3,505,453 |  |  | $ | 4,074,848 |
Of which: included in research and development expense |  | 520,373 |  |  | 301,104 |  |  | 937,351 |  |  | 888,098 |
Of which: included in general and administrative expense |  | 1,307,872 |  |  | 1,196,557 |  |  | 2,568,102 |  |  | 3,186,750 |
Summary of nonvested restricted stock shares activity |
Grants awarded |
Program | Restricted Founder Shares
Awards unvested as of January 1, 2023 | 1,110,078
Awards vested for the six months ended June 30, 2023 | (1,110,078)
Awards unvested as of June 30, 2023 | —
Schedule of nonvested share activity |
Grants awarded |
Program | ESPP
Awards issued as of January 1 and June 30, 2023 | 2,237,915
Awards vested as of June 30, 2023 | 1,452,115
Awards issued as of January 1, 2024 | 2,237,915
Awards forfeited for the six months ended June 30, 20241 | (16,853)
Awards issued as of June 30, 2024 | 2,221,062
Awards vested as of June 30, 2024 | 1,754,359
Summary of weighted average assumptions for awards issued |
Weighted average assumptions for the awards issued during the six months ended June 30, 2024
Estimated fair value of the option on the grant date using Black-Scholes model ($) | 31.66
Exercise price ($) | 45.91
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) | 4.6%
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.
Schedule of option activity for share-based payment arrangement |
Grants awarded |
Program | ESOP
Awards issued as of January 1, 2023 | 466,770
Awards granted for the six months ended June 30, 2023 | 55,100
Awards issued as of June 30, 2023 | 521,870
Awards exercisable as of June 30, 2023 | 186,593
Awards issued as of January 1, 2024 | 585,078
Awards converted from ESOP to Equity Incentive Plan for the six months ended June 30, 2024 | (486,685)
Awards issued as of June 30, 2024 | 98,393
Awards exercisable as of June 30, 2024 | 98,393
Grants awarded |  |
Program | Equity Incentive Plan
Awards issued as of January 1, 2023 |  | 180,000
Awards granted for the six months ended June 30, 2023 | 56,485
Awards issued as of June 30, 2023 | 236,485
Awards exercisable as of June 30, 2023 | 60,000
Awards issued as of January 1, 2024 |  | 312,400
Awards granted for the six months ended June 30, 2024 | 159,938
Awards converted from ESOP to Equity Incentive Plan for the six months ended June 30, 2024 | 486,685
Awards issued as of June 30, 2024 | 959,023
Awards exercisable as of June 30, 2024 | 366,718

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 -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -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 -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -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 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