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MoonLake Immunotherapeutics(MLTX)Earnings, Financials & Key Ratios
MLTX•NASDAQ
$17.70
$1.26B mkt cap·Price updated May 6, 2026
AboutMoonLake Immunotherapeutics, a clinical-stage biopharmaceutical company, engages in developing therapies. It is developing Sonelokimab, a novel investigational Nanobody therapy for the treatment of inflammation. The company is involved in conducting Phase II trials for hidradenitis suppurativa, psoriatic arthritis, ankylosing spondylitis, or radiographic axial spondyloarthritis. MoonLake Immunotherapeutics was founded in 2021 and is headquartered in Zug, Switzerland.Show more
- Revenue$0
- EBITDA-$242M-70.9%
- Net Income-$227M-91.1%
- EPS (Diluted)-3.53-86.8%
- ROE-59.99%-143.8%
- ROIC-114.24%-81.9%
- Debt/Equity0.25+3884.1%
- Interest Coverage-33.78
MLTX Key Insights
MoonLake Immunotherapeutics (MLTX) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
No significant strengths identified
✗Weaknesses
- ✗Weak Piotroski F-Score: 1/9
- ✗Trading more than 30% below 52-week high
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
MLTX Price & Volume
MoonLake Immunotherapeutics (MLTX) stock price & volume — 10-year historical chart
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MLTX Growth Metrics
MoonLake Immunotherapeutics (MLTX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years-
TTM-
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-91.13%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-86.77%
Return on Capital
10 Years-72.31%
5 Years-86.76%
3 Years-35.53%
Last Year-58.68%
MLTX Recent Earnings
MoonLake Immunotherapeutics (MLTX) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 5/12 qtrs (42%)
Q1 2026Latest
Feb 25, 2026EPS
$0.92
Est $0.92
+0.0%
Revenue
—
Q4 2025
Nov 5, 2025EPS
$1.10
Est $0.89
-23.6%
Revenue
—
Q3 2025
Aug 5, 2025EPS
$0.87
Est $0.73
-19.2%
Revenue
—
Q2 2025
May 12, 2025EPS
$0.63
Est $0.76
+17.1%
Revenue
—
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Feb 25, 2026 | $0.92vs $0.92+0.0% | — |
| Q4 2025 | Nov 5, 2025 | $1.10vs $0.89-23.6% | — |
| Q3 2025 | Aug 5, 2025 | $0.87vs $0.73-19.2% | — |
| Q2 2025 | May 12, 2025 | $0.63vs $0.76+17.1% | — |
Based on last 12 quarters of dataView full earnings history →
MLTX Peer Comparison
MoonLake Immunotherapeutics (MLTX) competitors in Immunology and Inflammation Therapies — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 UCB | 4.06B | 33.94 | 12.95 | 3.82% | 9.15% | 0.06 | ||
 NKTR | 1.67B | 85.09 | -8.75 | -43.89% | -192.87% | -356.81% | 0.95 | |
 ARQT | 3.02B | 24.17 | -185.92 | 91.34% | -0.57% | -1.41% | 0.03 | |
 DAWN | 2.22B | 21.53 | -20.70 | 20.6% | -67.85% | -23.43% | 0.01 | |
 IMVT | 5.83B | 28.67 | -10.50 | -47.07% | 0.00 | |||
 RCUS | 2.62B | 26.00 | -7.90 | -4.26% | -156.36% | -68.97% | 0.16 | |
 KYMR | 7.04B | 86.26 | -23.38 | -16.72% | -6.12% | -25.02% | 0.05 | |
 ABBV | 362.56B | 204.98 | 86.49 | 8.57% | 6.91% | 62.15% |
Compare MLTX vs Peers
MoonLake Immunotherapeutics (MLTX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
MLTX Income Statement
MoonLake Immunotherapeutics (MLTX) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - |
| Cost of Goods Sold | 0 | 4.97K | 0 | 0 | 0 | 2.62M |
| COGS % of Revenue | - | - | - | - | - | - |
| Gross Profit | 0▲ 0% | -4.97K▲ 0% | 0▲ 100.0% | 0▲ 0% | 0▲ 0% | -2.62M▲ 0% |
| Gross Margin % | - | - | - | - | - | - |
| Gross Profit Growth % | - | - | 100% | - | - | - |
| Operating Expenses | 105.75K | 53.57M | 65.06M | 54.12M | 143.09M | 242.22M |
| OpEx % of Revenue | - | - | - | - | - | - |
| Selling, General & Admin | 105.75K | 18.05M | 23.01M | 22.32M | 30.32M | 41.97M |
| SG&A % of Revenue | - | - | - | - | - | - |
| Research & Development | 0 | 35.52M | 42.05M | 31.8M | 112.77M | 202.86M |
| R&D % of Revenue | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | -2.62M |
| Operating Income | -105.75K▲ 0% | -53.58M▼ 50561.4% | -65.06M▼ 21.4% | -54.12M▲ 16.8% | -143.09M▼ 164.4% | -244.83M▼ 71.1% |
| Operating Margin % | - | - | - | - | - | - |
| Operating Income Growth % | - | -50561.45% | -21.44% | 16.81% | -164.38% | -71.1% |
| EBITDA | -90.84K | -53.57M | -64.9M | -53.75M | -141.71M | -242.22M |
| EBITDA Margin % | - | - | - | - | - | - |
| EBITDA Growth % | - | -58875.36% | -21.14% | 17.17% | -163.63% | -70.93% |
| D&A (Non-Cash Add-back) | 0 | 4.97K | 164.78K | 370.32K | 1.38M | 2.62M |
| EBIT | -90.84K | -53.64M | -65.06M | -54.12M | -143.09M | -244.83M |
| Net Interest Income | 14.92K | 0 | 0 | 0 | 0 | -7.25M |
| Interest Income | 14.92K | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 7.25M |
| Other Income/Expense | 14.92K | -61.85K | 591.73K | 10.14M | 22.13M | 15.12M |
| Pretax Income | -90.84K▲ 0% | -53.64M▼ 58948.9% | -64.47M▼ 20.2% | -43.98M▲ 31.8% | -120.96M▼ 175.0% | -229.71M▼ 89.9% |
| Pretax Margin % | - | - | - | - | - | - |
| Income Tax | 0 | 4.75K | 36.37K | 94.39K | 282.2K | 611K |
| Effective Tax Rate % | 0% | -0.01% | -0.06% | -0.21% | -0.23% | -0.27% |
| Net Income | -90.84K▲ 0% | -53.64M▼ 58954.2% | -49.97M▲ 6.8% | -36.01M▲ 27.9% | -118.94M▼ 230.3% | -227.32M▼ 91.1% |
| Net Margin % | - | - | - | - | - | - |
| Net Income Growth % | - | -58954.16% | 6.84% | 27.95% | -230.31% | -91.13% |
| Net Income (Continuing) | -90.84K | -53.64M | -64.51M | -44.08M | -121.24M | -230.32M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 19.87M | 17.82M | 6.57M | 0 |
| EPS (Diluted) | -0.01▲ 0% | -1.45▼ 23670.5% | -2.20▼ 51.7% | -0.73▲ 66.8% | -1.89▼ 158.9% | -3.53▼ 86.8% |
| EPS Growth % | - | - | -51.72% | 66.82% | -158.9% | -86.77% |
| EPS (Basic) | -0.01 | -1.45 | -2.20 | -0.73 | -1.89 | -3.53 |
| Diluted Shares Outstanding | 14.8M | 36.93M | 29.36M | 49.12M | 62.87M | 64.46M |
| Basic Shares Outstanding | 14.8M | 36.93M | 29.36M | 49.12M | 62.87M | 64.46M |
| Dividend Payout Ratio | - | - | - | - | - | - |
MLTX Balance Sheet
MoonLake Immunotherapeutics (MLTX) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|
| Total Current Assets | 1.62M | 9.64M | 76.51M | 514.17M | 474.29M | 421.69M |
| Cash & Short-Term Investments | 1.34M | 8.04M | 72.11M | 511.01M | 448.03M | 393.97M |
| Cash Only | 1.34M | 8.04M | 39.51M | 451.17M | 180.43M | 334.52M |
| Short-Term Investments | 0 | 0 | 32.61M | 59.84M | 267.6M | 59.45M |
| Accounts Receivable | 0 | 148.77K | 217.13K | 1.06M | 2.84M | 4.87M |
| Days Sales Outstanding | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - |
| Other Current Assets | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 115.01M | 45.74K | 331.97K | 12.37M | 3.64M | 2.74M |
| Property, Plant & Equipment | 0 | 45.74K | 331.97K | 3.95M | 3.64M | 2.14M |
| Fixed Asset Turnover | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 115.01M | 115.04M | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | -115.04M | 0 | 8.42M | 0 | 596K |
| Total Assets | 116.63M▲ 0% | 9.68M▼ 91.7% | 76.84M▲ 693.6% | 526.54M▲ 585.2% | 477.93M▼ 9.2% | 424.43M▼ 11.2% |
| Asset Turnover | - | - | - | - | - | - |
| Asset Growth % | - | -91.7% | 693.63% | 585.21% | -9.23% | -11.19% |
| Total Current Liabilities | 125.18K | 21.09M | 7.67M | 9.97M | 22.46M | 45.48M |
| Accounts Payable | 0 | 1.23M | 47.48K | 1.46M | 8.68M | 0 |
| Days Payables Outstanding | - | 90.54K | - | - | - | - |
| Short-Term Debt | 58.06K | 15M | 0 | 0 | 0 | 1.23M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 67.12K | 1.3M | 109.83K | 2.78M | 4.24M | 40.83M |
| Current Ratio | 12.93x | 0.46x | 9.98x | 51.59x | 21.11x | 9.27x |
| Quick Ratio | 12.93x | 0.46x | 9.98x | 51.59x | 21.11x | 9.27x |
| Cash Conversion Cycle | - | - | - | - | - | - |
| Total Non-Current Liabilities | 4.03M | 239.86K | 411.16K | 3.08M | 2.08M | 74.47M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 74.47M |
| Capital Lease Obligations | 0 | 0 | 128.95K | 2.5M | 1.46M | 374K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 4.03M | 239.86K | 282.21K | 583.43K | 620.68K | -374K |
| Total Liabilities | 4.15M | 21.33M | 8.08M | 13.05M | 24.54M | 119.95M |
| Total Debt | 58.06K | 15M | 282.58K | 3.7M | 2.83M | 75.71M |
| Net Debt | -1.28M | 6.96M | -39.22M | -447.47M | -177.6M | -258.81M |
| Debt / Equity | 0.00x | - | 0.00x | 0.01x | 0.01x | 0.25x |
| Debt / EBITDA | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | -33.78x |
| Total Equity | 112.48M▲ 0% | -11.65M▼ 110.4% | 68.77M▲ 690.5% | 513.49M▲ 646.7% | 453.39M▼ 11.7% | 304.48M▼ 32.8% |
| Equity Growth % | - | -110.35% | 690.53% | 646.71% | -11.7% | -32.84% |
| Book Value per Share | 7.60 | -0.32 | 2.34 | 10.45 | 7.21 | 4.72 |
| Total Shareholders' Equity | 112.48M | -11.65M | 48.9M | 495.68M | 446.83M | 304.48M |
| Common Stock | 115M | 38.54K | 5.27K | 6.3K | 6.39K | 7K |
| Retained Earnings | -2.52M | -53.64M | -80.65M | -116.66M | -235.59M | -462.91M |
| Treasury Stock | 0 | -6.2K | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | -168.18K | 350.95K | 2.36M | 5M | 604K |
| Minority Interest | 0 | 0 | 19.87M | 17.82M | 6.57M | 0 |
MLTX Cash Flow Statement
MoonLake Immunotherapeutics (MLTX) cash flow — operating, investing & free cash flow history
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|
| Cash from Operations | -316.69K | -35.18M | -55.89M | -42.78M | -116.59M | -196.01M |
| Operating CF Margin % | - | - | - | - | - | - |
| Operating CF Growth % | - | -11007.07% | -58.9% | 23.47% | -172.54% | -68.12% |
| Net Income | -90.84K | -53.64M | -49.97M | -44.08M | -121.24M | -229.1M |
| Depreciation & Amortization | 0 | 4.97K | 12.36K | 13.16K | 1.38M | 2.62M |
| Stock-Based Compensation | 0 | 0 | 0 | 7.11M | 7.28M | 12.9M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -9.92K | 13.98M | -4.51M | 399.51K | -225.71K | 17.58M |
| Working Capital Changes | -215.94K | 4.48M | -1.43M | -6.22M | -3.78M | 0 |
| Change in Receivables | 0 | -148.77K | -68.36K | 0 | -1.79M | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | 1.57M | -1.31M | 0 | 0 | 0 |
| Cash from Investing | -115M | -50.71K | -32.34M | -25.18M | -205.6M | 202.99M |
| Capital Expenditures | 0 | -50.71K | -16.01K | -284.63K | -519.52K | -35K |
| CapEx % of Revenue | - | - | - | - | - | - |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | 116.65M | 43.26M | 119.69M | 479.7M | 51.31M | 146M |
| Debt Issued (Net) | 0 | 15M | -15M | 0 | 0 | 0 |
| Equity Issued (Net) | 1000K | 1000K | 3.79K | 1000K | 1000K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | -6.2K | 0 | 0 | -50 | 0 |
| Other Financing | -347.38K | 0 | 134.69M | -2.75M | -1.23M | 146M |
| Net Change in Cash | 1.34M▲ 0% | 6.7M▲ 401.7% | 31.47M▲ 369.4% | 411.66M▲ 1208.2% | -270.74M▼ 165.8% | 154.09M▲ 156.9% |
| Free Cash Flow | -316.69K▲ 0% | -35.23M▼ 11023.1% | -55.91M▼ 58.7% | -43.06M▲ 23.0% | -117.11M▼ 171.9% | -196.04M▼ 67.4% |
| FCF Margin % | - | - | - | - | - | - |
| FCF Growth % | - | -11023.08% | -58.72% | 22.98% | -171.94% | -67.4% |
| FCF per Share | -0.02 | -0.95 | -1.90 | -0.88 | -1.86 | -3.04 |
| FCF Conversion (FCF/Net Income) | 3.49x | 0.66x | 1.12x | 1.19x | 0.98x | 0.86x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 41.71K | 147.29K | 0 |
MLTX Key Ratios
MoonLake Immunotherapeutics (MLTX) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Return on Equity (ROE) | -0.08% | -106.39% | -174.97% | -12.37% | -24.6% | -59.99% |
| Return on Invested Capital (ROIC) | - | -75.44% | -392.57% | -84.95% | -62.79% | -114.24% |
| Debt / Equity | 0.00x | - | 0.00x | 0.01x | 0.01x | 0.25x |
| Interest Coverage | - | - | - | - | - | -33.78x |
| FCF Conversion | 3.49x | 0.66x | 1.12x | 1.19x | 0.98x | 0.86x |
MLTX SEC Filings & Documents
MoonLake Immunotherapeutics (MLTX) SEC filings — annual & quarterly reports (10-K, 10-Q)
MLTX Frequently Asked Questions
MoonLake Immunotherapeutics (MLTX) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
MoonLake Immunotherapeutics (MLTX) grew revenue by 0.0% over the past year. Growth has been modest.
MoonLake Immunotherapeutics (MLTX) reported a net loss of $227.3M for fiscal year 2025.
Dividend & Returns
MoonLake Immunotherapeutics (MLTX) has a return on equity (ROE) of -60.0%. Negative ROE indicates the company is unprofitable.
MoonLake Immunotherapeutics (MLTX) had negative free cash flow of $196.0M in fiscal year 2025, likely due to heavy capital investments.
Explore More MLTX
MoonLake Immunotherapeutics (MLTX) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
DCA Calculator
Dollar cost averaging vs lump sum
Dividend History
Yield, growth, payout safety & DRIP
Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates