Want to see MLTX full AI Analyst Report?
Top Page
MoonLake Immunotherapeutics
(NASDAQ:MLTX)
Select Model
Select Model
Rating:54Neutral
Price Target:
$18.50
▼(-2.73% Downside)
Action:Reiterated
Date:08/10/26
Score is held back primarily by weak financial performance (pre-revenue, widening losses and heavy cash burn) and soft technical momentum. Offsetting these, corporate events are meaningfully positive due to strong Phase 3 readouts and a clearer regulatory path toward a BLA, while valuation signals remain constrained by ongoing losses and no dividend.
Positive Factors
Clinical & regulatory de-risking
Positive Phase 3 data and a constructive FDA pre‑BLA meeting create a clearer regulatory path for sonelokimab, enabling a planned BLA submission. This materially reduces regulatory execution risk, accelerates potential U.S. launch sequencing and strengthens long‑term commercial optionality across indications.
Negative Factors
High and growing cash burn
Operating cash outflows have widened materially year over year, producing sustained negative free cash flow. This structural burn means the company will remain dependent on external financing to fund development and commercialization, increasing execution risk if capital markets tighten.
Read all positive and negative factors
Positive Factors
Negative Factors
Clinical & regulatory de-risking
Positive Phase 3 data and a constructive FDA pre‑BLA meeting create a clearer regulatory path for sonelokimab, enabling a planned BLA submission. This materially reduces regulatory execution risk, accelerates potential U.S. launch sequencing and strengthens long‑term commercial optionality across indications.
Read all positive factors
MoonLake Immunotherapeutics (MLTX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.40B
Dividend YieldN/A
Average Volume (3M)1.33M
Price to Earnings (P/E)―
Beta (1Y)0.72
Revenue GrowthN/A
EPS Growth-37.48%
CountryUS
Employees130
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-3.85
Shares Outstanding85,106,680
10 Day Avg. Volume986,967
30 Day Avg. Volume1,328,862
Financial Highlights & Ratios
PEG Ratio-0.04
Price to Book (P/B)2.79
Price to Sales (P/S)0.00
P/FCF Ratio-4.33
Enterprise Value/Market Cap<0.01
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$38.00Price Target Upside99.79% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)-3.5
Revenue Forecast (FY)N/A
MoonLake Immunotherapeutics Business Overview & Revenue Model
Company Description
MoonLake Immunotherapeutics operates as a clinical-stage biopharmaceutical company, concentrating its efforts on discovering and developing novel therapies. The company's primary focus is the advancement of Sonelokimab, an innovative, investigatio...
How the Company Makes Money
null...
MoonLake Immunotherapeutics Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
33
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -1.60M | -2.62M | 0.00 | 0.00 | 0.00 | -4.97K |
| EBITDA | -250.82M | -219.85M | -119.58M | -43.61M | -64.30M | -53.63M |
| Net Income | -263.67M | -227.32M | -118.94M | -36.01M | -49.97M | -53.64M |
Balance Sheet | ||||||
| Total Assets | 573.95M | 424.43M | 477.93M | 526.54M | 76.84M | 9.68M |
| Cash, Cash Equivalents and Short-Term Investments | 537.03M | 393.97M | 448.03M | 511.01M | 72.11M | 8.04M |
| Total Debt | 101.53M | 75.71M | 2.83M | 3.70M | 282.58K | 15.00M |
| Total Liabilities | 145.75M | 119.95M | 24.54M | 13.05M | 8.08M | 21.33M |
| Stockholders Equity | 428.19M | 304.48M | 446.82M | 495.68M | 48.90M | -11.65M |
Cash Flow | ||||||
| Free Cash Flow | -225.18M | -196.04M | -117.11M | -43.06M | -55.91M | -35.23M |
| Operating Cash Flow | -225.18M | -196.01M | -116.59M | -42.78M | -55.89M | -35.18M |
| Investing Cash Flow | 58.91M | 202.99M | -205.60M | -25.18M | -32.34M | -50.71K |
| Financing Cash Flow | 338.14M | 146.00M | 51.31M | 479.70M | 119.69M | 43.26M |
MoonLake Immunotherapeutics Technical Analysis
Negative
19.02
Price Trends
18.87
Negative
18.27
Negative
16.56
Negative
Market Momentum
-0.66
Positive
38.71
Neutral
28.01
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MLTX, the sentiment is Negative. The current price of 19.02 is above the 20-day moving average (MA) of 18.21, above the 50-day MA of 18.87, and above the 200-day MA of 16.56, indicating a bearish trend. The MACD of -0.66 indicates Positive momentum. The RSI at 38.71 is Neutral, neither overbought nor oversold. The STOCH value of 28.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MLTX.
MoonLake Immunotherapeutics Risk Analysis
MoonLake Immunotherapeutics disclosed 65 risk factors in its most recent earnings report. MoonLake Immunotherapeutics reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
MoonLake Immunotherapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $9.80B | 127.33 | 12.03% | ― | 34.81% | 44.59% | |
59 Neutral | $8.96B | -16.77 | -44.22% | ― | 2928.45% | -22.68% | |
54 Neutral | $1.40B | -4.28 | -82.68% | ― | ― | -37.48% | |
52 Neutral | $2.98B | -14.70 | -27.40% | ― | 5.13% | 17.00% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
MLTX
MoonLake Immunotherapeutics
16.47
-37.26
-69.35%
PTGX
Protagonist Therapeutics
155.10
98.89
175.93%
ZLAB
Zai Lab
25.90
-9.79
-27.43%
CRNX
Crinetics Pharmaceuticals
84.70
54.96
184.80%
MoonLake Immunotherapeutics Corporate Events
Business Operations and StrategyFinancial DisclosuresPrivate Placements and FinancingProduct-Related Announcements
MoonLake announces positive Phase 3 psoriatic arthritis results
Positive
Aug 10, 2026
On August 10, 2026, MoonLake reported positive topline week 16 results from its Phase 3 IZAR-1 trial of sonelokimab in biologic-naïve adults with active psoriatic arthritis, with the 60 mg induction regimen meeting all clinical endpoints. The...
Private Placements and FinancingRegulatory Filings and Compliance
MoonLake Immunotherapeutics Announces $200 Million Public Offering
Positive
Jun 25, 2026
On June 23, 2026, MoonLake Immunotherapeutics entered into an underwriting agreement to conduct a public offering of 9,000,000 Class A ordinary shares at $20.00 per share and pre-funded warrants for up to 1,000,000 shares at $19.9999 each, with an...
Business Operations and StrategyProduct-Related Announcements
MoonLake Highlights Strong Phase 3 Sonelokimab HS Results
Positive
Jun 22, 2026
On June 21, 2026, MoonLake Immunotherapeutics reported final Week 52 data from its Phase 3 VELA-1 and VELA-2 trials showing that sonelokimab delivered strong and durable efficacy in adults with moderate-to-severe hidradenitis suppurativa, with abo...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
MoonLake shareholders back director, auditor and compensation plans
Positive
Jun 9, 2026
At MoonLake Immunotherapeutics’ recent Annual Meeting, shareholders elected Class I director nominee Spike Loy, with 47,222,233 votes cast in favor and 3,889,131 withheld, and also approved the ratification of Baker Tilly U.S., LLP as the co...
Business Operations and Strategy
MoonLake Secures Long-Term Manufacturing Capacity with Vetter Pharma
Neutral
Jun 1, 2026
On May 22, 2026, MoonLake Immunotherapeutics signed a Master Commercial Supply Agreement with Vetter Pharma under which Vetter will manufacture pre-filled application systems containing active pharmaceutical ingredients, placebos or other material...
Business Operations and StrategyFinancial DisclosuresProduct-Related AnnouncementsRegulatory Filings and Compliance
MoonLake advances sonelokimab toward BLA after positive FDA meeting
Positive
May 11, 2026
MoonLake Immunotherapeutics reported that an April 1, 2026 final pre-BLA meeting with the U.S. FDA for sonelokimab in hidradenitis suppurativa yielded a positive outcome, with agreement on submission plans, label strategy and inclusion of adolesce...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.