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Share-Based Compensation (Tables) | 9 Months Ended
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Sep. 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 September 30, 2024 |  | Three Months Ended September 30, 2023 |  | Nine Months Ended September 30, 2024 |  | Nine Months Ended September 30, 2023
MoonLake AG Restricted Founder Shares |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,574,299 |
ESPP |  | 741,154 |  |  | 762,309 |  |  | 2,191,557 |  | 2,590,576
ESOP |  | — |  |  | 255,171 |  |  | — |  |  | 614,469
Equity Incentive Plan |  | 1,101,455 |  |  | 408,171 |  |  | 3,156,505 |  | 721,155
Total share-based compensation expense |  | $ | 1,842,609 |  |  | $ | 1,425,651 |  |  | $ | 5,348,062 |  |  | $ | 5,500,499 |
Of which: included in research and development expense |  | 508,697 |  |  | 262,717 |  |  | 1,446,049 |  |  | 1,150,815 |
Of which: included in general and administrative expense |  | 1,333,912 |  |  | 1,162,934 |  |  | 3,902,013 |  |  | 4,349,684 |
Summary of nonvested restricted stock shares activity |
Grants awarded |
Restricted Founder Shares | Number of Shares
Awards unvested as of January 1, 2023 | 1,110,078
Awards vested for the nine months ended September 30, 2023 | (1,110,078)
Awards unvested as of September 30, 2023 | —
Schedule of nonvested share activity |
Grants awarded |
ESPP | Number of Shares
Awards issued as of January 1 and September 30, 2023 | 2,237,915
Awards vested as of September 30, 2023 | 1,525,582
Awards issued as of January 1, 2024 | 2,237,915
Awards forfeited for the nine months ended September 30, 20242 | (16,853)
Awards issued as of September 30, 2024 | 2,221,062
Awards vested as of September 30, 2024 | 1,827,826
Summary of weighted average assumptions for awards issued |
Weighted average assumptions for the awards issued during the nine months ended September 30, 2024
Estimated fair value of the option on the grant date using Black-Scholes model ($) | 31.31
Exercise price ($) | 45.63
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) | 4.3%
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.
Schedule of option activity for share-based payment arrangement |
Grants awarded |
ESOP | Number of Options
Awards outstanding as of January 1, 2023 | 466,770
Awards granted for the nine months ended September 30, 2023 | 133,444
Awards outstanding as of September 30, 2023 | 600,214
Awards exercisable as of September 30, 2023 | 186,593
Awards outstanding as of January 1, 2024 | 585,078
Awards converted from ESOP to Equity Incentive Plan for the nine months ended September 30, 2024 | (486,685)
Awards outstanding as of September 30, 2024 | 98,393
Awards exercisable as of September 30, 2024 | 98,393
Grants awarded |
Equity Incentive Plan | Number of Options
Awards outstanding as of January 1, 2023 | 180,000
Awards granted for the nine months ended September 30, 2023 | 56,485
Awards outstanding as of September 30, 2023 | 236,485
Awards exercisable as of September 30, 2023 | 60,000
Awards outstanding as of January 1, 2024 | 312,400
Awards granted for the nine months ended September 30, 2024 | 241,820
Awards exercised for the nine months ended September 30, 2024 | (17,390)
Awards converted from ESOP to Equity Incentive Plan for the nine months ended September 30, 2024 | 486,685
Awards forfeited for the nine months ended September 30, 2024 | (49,715)
Awards outstanding as of September 30, 2024 | 973,800
Awards exercisable as of September 30, 2024 | 368,910

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- 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
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- 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
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- 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
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