MoonLake Immunotherapeutics
MLTXNasdaqHealthcare · Pharmaceutical Preparations · E9 · SEC filings ↗ · Compare ⊕
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SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — |
| Operating income | −$244.8M | −$143.1M | −$54.1M | −$65.1M | −$53.6M | −$105,755 |
| Net income | −$227.3M | −$118.9M | −$36.0M | −$50.0M | −$53.6M | −$90,838 |
| Total assets | $424.4M | $477.9M | $526.5M | $76.8M | $9.7M | $116.6M |
| Total liabilities | $120.0M | $24.5M | $13.0M | $8.1M | $21.3M | $4.2M |
| Equity | $304.5M | $446.8M | $495.7M | $48.9M | −$11.6M | −$2.5M |
| EPS (diluted) | $-3.53 | $-1.89 | $-0.73 | $-1.70 | $-6.84 | — |
| Shares out. | 64.5M | 62.9M | 49.1M | 52.7M | 7.8M | — |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- —
- Net margin
- —
- Return on equity
- −74.7%
- Return on assets
- −53.6%
- Return on capital (ROCE)
- −64.6%
- Liabilities / assets
- 28.3%
- Debt / equity
- 0.39×
- Book value / share
- $4.72
- Revenue growth (YoY)
- —
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- 1.05distress
- Accruals / assets
- −7.4%clean
- Piotroski F-Score
- 1/7weak
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast. What these scores mean →
Signs
● 2 severe● 1 warning● 2 good- Altman Z″ in the distress zone
- Filed a late-filing notice (Form NT) — missed an SEC deadline
- Negative operating cash flow
- Conservative leverage (liabilities < 50% of assets)
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Risk flags
late SEC filings- NT 10-Qmissed a reporting deadline ↗May 18, 2021
A Form NT means the company notified the SEC it would file a periodic report late — often an accounting, audit or liquidity warning sign. Also search SEC enforcement actions for this company.
Clinical trials
ClinicalTrials.gov · ongoing · next readout first- Phase 3Active Not Recruitingreadout ~2025-06-17A Study to Evaluate the Efficacy and Safety of Subcutaneous Sonelokimab Compared With Placebo in Adult Participants With Moderate to Severe Hidradenitis Suppurativa
- Phase 3Active Not Recruitingreadout ~2025-06-17Study to Evaluate the Efficacy and Safety of Subcutaneous Sonelokimab Compared With Placebo in Adult Participants With Moderate to Severe Hidradenitis Suppurativa
- Phase 3Active Not Recruitingreadout ~2026-09-28An Open-label, Single-arm Study to Evaluate Pharmacokinetics and Safety of Subcutaneous Sonelokimab in Adolescents With Moderate to Severe Hidradenitis Suppurativa (VELA-TEEN)
- Phase 3Recruitingreadout ~2027-01-15Evaluation of Sonelokimab in Patients With Active Psoriatic Arthritis and Anti-TNFα Inadequate Response
- Phase 3Active Not Recruitingreadout ~2027-02-04Evaluation of Sonelokimab in Patients With Active Psoriatic Arthritis Naive to Biologic Disease-Modifying Antirheumatic Drug
- Phase 3Enrolling By Invitationreadout ~2028-02-04A Study to Evaluate the Long-term Safety, Tolerability, and Efficacy of Subcutaneous Sonelokimab in Participants With Psoriatic Arthritis
- Phase 3Enrolling By Invitationreadout ~2028-06-13A Study to Evaluate the Long-term Safety, Tolerability, and Efficacy of Subcutaneous Sonelokimab in Participants With Moderate to Severe Hidradenitis Suppurativa
Interventional studies led by this company. “Readout” is the trial's primary-completion date — an estimate the sponsor reports, not a guarantee.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Cormorant Asset Management, LpPassive (13G)May 15, 2026
- Biotechnology Value Fund L PActivist (13D)Apr 2, 2026
- Avoro Capital Advisors LlcPassive (13G)Nov 14, 2025
- Deep Track Capital, LpPassive (13G)Nov 12, 2025
- Fmr LlcPassive (13G)Nov 5, 2025
- Chen BihuaPassive (13G)Oct 1, 2025
- Price T Rowe Associates Inc /Md/Passive (13G)May 14, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 5.5M | 5.0 | -13.5% |
| Apr 30, 2026 | 6.3M | 9.3 | -5.0% |
| Apr 15, 2026 | 6.7M | 4.2 | -14.2% |
| Mar 31, 2026 | 7.8M | 7.8 | +6.1% |
| Mar 13, 2026 | 7.3M | 9.1 | +3.9% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Entered a material agreementJun 1, 2026
- Results of operations · Regulation FD disclosureMay 11, 2026
- Entered a material agreement · Results of operations · New financial obligation · Director / officer change · Regulation FD disclosure · Other material eventFeb 23, 2026
- Other material eventJan 8, 2026
- Entered a material agreementNov 5, 2025
- Results of operations · Regulation FD disclosureNov 5, 2025
- Other material eventSep 29, 2025
- Results of operationsAug 5, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗- 8-KCURRENT REPORTJun 1, 2026
- SCHEDULE 13G/AMay 15, 2026
- 4May 13, 2026
- 10-QMay 11, 2026
- 8-KMay 11, 2026
- ARSApr 21, 2026
- DEFA14AApr 21, 2026
- DEF 14AApr 21, 2026
- 4Apr 16, 2026
- 4Apr 14, 2026
- 4Apr 10, 2026
- 144Apr 10, 2026
- 144Apr 9, 2026
- 4OWNERSHIP DOCUMENTApr 2, 2026
- SCHEDULE 13D/AApr 2, 2026
Event-driven situations (4)
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