XML 50 R37.htm IDEA: XBRL DOCUMENT
v3.25.1

Share-Based Compensation (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
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:
(in thousands) |  |  |  |
Compensation Plan |  | Three Months Ended March 31, 2025 |  | Three Months Ended March 31, 2024
ESPP |  | 725 |  |  | 717 |
ESOP |  | (18) |  |  | — |
MoonLake Immunotherapeutics 2022 Equity Incentive Plan |  | 1,583 |  |  | 960 |
Total share-based compensation expense |  | $ | 2,290 |  |  | $ | 1,677 |
Of which: included in research and development expense |  | 627 |  |  | 417 |
Of which: included in general and administrative expense |  | 1,663 |  |  | 1,260 |
Schedule of nonvested share activity |
ESPP | Number of Shares |  | Weighted-Average Grant Date Fair Value
Awards unvested as of January 1, 2025 | 319,769 |  | 10.00
Awards vested for the three months ended March 31, 2025 | (73,467) |  | 10.00
Awards unvested as of March 31, 2025 | 246,302 |  | 10.00
Schedule of option activity for share-based payment arrangement |
ESOP | Number of Options |  | Weighted-Average Exercise Price |  | Aggregate Intrinsic Value (in thousands) |  | Weighted-Average Remaining Contractual Term (in years)
Awards outstanding as of January 1, 2025 | 98,393 |  | 1.50 |  | 5,180 |  | 6.73
Awards exercised for the three months ended March 31, 2025 | (93,347) |  | 1.30 |  |  |  |
Awards forfeited for the three months ended March 31, 2025 | (5,046) |  | 5.25 |  |  |  |
Awards outstanding as of March 31, 2025 | — |  | — |  | — |  | —
Awards exercisable as of March 31, 2025 | — |  | — |  | — |  | —
Equity Incentive Plan (Options) | Number of Options |  | Weighted-Average Exercise Price |  | Aggregate Intrinsic Value (in thousands) |  | Weighted-Average Remaining Contractual Term (in years)
Awards outstanding as of January 1, 2025 | 972,476 |  | $ | 24.94 |  | $ | 28,588 |  | 8.18
Awards granted for the three months ended March 31, 2025 | 229,228 |  | $ | 43.11 |  |  |  |
Awards forfeited for the three months ended March 31, 2025 | (12,891) |  | $ | 49.01 |  |  |  |
Awards outstanding as of March 31, 2025 | 1,188,813 |  | $ | 28.19 |  | $ | 17,161 |  | 8.28
Awards exercisable as of March 31, 2025 | 431,267 |  | $ | 13.97 |  | $ | 11,398 |  | 7.27
Equity Incentive Plan (Restricted Stock Awards) | Number of Shares |  | Weighted-Average Grant Date Fair Value
Awards unvested as of January 1, 2025 | — |  | $ | —
Awards granted for the three months ended March 31, 2025 | 191,526 |  | 41.77
Awards forfeited for the three months ended March 31, 2025 | — |  | —
Awards vested for the three months ended March 31, 2025 | — |  | —
Awards unvested as of March 31, 2025 | 191,526 |  | $ | 41.77
Summary of weighted average assumptions for awards issued |
Weighted average assumptions for the awards issued during the three months ended March 31, 2025
Estimated fair value of the option on the grant date using Black-Scholes model ($) | 29.64
Exercise price ($) | 43.11
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) | 4.4%
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 three months ended March 31, 2024
Estimated fair value of the option on the grant date using Black-Scholes model ($) | 36.92
Exercise price ($) | 53.54
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.
Weighted average assumptions for the awards issued during the three months ended March 31, 2025
Estimated fair value of Common Shares on the grant date (USD) | 41.77
Purchase price (CHF) | $—

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 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