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 PlanThree Months Ended June 30, 2024Three Months Ended June 30, 2023Six Months Ended June 30, 2024Six Months Ended June 30, 2023
MoonLake AG Restricted Founder Shares$— $364,218 $— $1,574,300 
ESPP733,098 771,313 1,450,4021,828,267
ESOP— 171,058 — 359,297
Equity Incentive Plan1,095,147 191,072 2,055,051312,984
Total share-based compensation expense$1,828,245 $1,497,661 $3,505,453 $4,074,848 
Of which: included in research and development expense520,373 301,104 937,351 888,098 
Of which: included in general and administrative expense1,307,872 1,196,557 2,568,102 3,186,750 
Summary of nonvested restricted stock shares activity
Grants awarded
ProgramRestricted Founder Shares
Awards unvested as of January 1, 20231,110,078
Awards vested for the six months ended June 30, 2023(1,110,078)
Awards unvested as of June 30, 2023—
Schedule of nonvested share activity
Grants awarded
ProgramESPP
Awards issued as of January 1 and June 30, 20232,237,915
Awards vested as of June 30, 20231,452,115
Awards issued as of January 1, 20242,237,915
Awards forfeited for the six months ended June 30, 20241(16,853)
Awards issued as of June 30, 20242,221,062
Awards vested as of June 30, 20241,754,359
Summary of weighted average assumptions for awards issued
Weighted average assumptions for the awards issued during the six months ended June 30, 2024
Estimated fair value of the option on the grant date using Black-Scholes model ($)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
ProgramESOP
Awards issued as of January 1, 2023466,770
Awards granted for the six months ended June 30, 202355,100
Awards issued as of June 30, 2023521,870
Awards exercisable as of June 30, 2023186,593
Awards issued as of January 1, 2024585,078
Awards converted from ESOP to Equity Incentive Plan for the six months ended June 30, 2024(486,685)
Awards issued as of June 30, 202498,393
Awards exercisable as of June 30, 202498,393
Grants awarded
Program
Equity Incentive Plan
Awards issued as of January 1, 2023180,000
Awards granted for the six months ended June 30, 202356,485
Awards issued as of June 30, 2023236,485
Awards exercisable as of June 30, 202360,000
Awards issued as of January 1, 2024312,400
Awards granted for the six months ended June 30, 2024159,938
Awards converted from ESOP to Equity Incentive Plan for the six months ended June 30, 2024486,685
Awards issued as of June 30, 2024959,023
Awards exercisable as of June 30, 2024366,718