MoonLake Immunotherapeutics (MLTX) 10-Q 12 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Aug. 12, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-39630
Entity Registrant Name	MOONLAKE IMMUNOTHERAPEUTICS
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	Dorfstrasse 29
Entity Address, Postal Zip Code	6300
Entity Address, City or Town	Zug
Entity Address, Country	CH
City Area Code	41
Local Phone Number	415108022
Title of 12(b) Security	Class A ordinary share, par value $0.0001 per share
Trading Symbol	MLTX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001821586
Class A Ordinary Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		36,925,639
Class C Ordinary Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	15,775,472

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Current assets
Cash	$ 92,707,931	$ 8,038,845
Other receivables	557,048	148,774
Prepaid expenses	5,112,702	1,449,096
Total current assets	98,377,681	9,636,715
Non-current assets
Property and equipment, net	55,971	45,739
Total non-current assets	55,971	45,739
Total assets	98,433,652	9,682,454
Current liabilities
Trade and other payables	791,061	1,569,290
Short-term loans	0	15,000,000
Accrued expenses and other current liabilities	3,065,951	4,518,311
Total current liabilities	3,857,012	21,087,601
Non-current liabilities
Pension liability	18,588	239,860
Total non-current liabilities	18,588	239,860
Total liabilities	3,875,600	21,327,461
Commitments and contingencies (Note 13)
Equity (deficit)
Treasury Shares, 1,942,837 as of December 31, 2021	0	(6,202)
Additional paid-in capital	122,053,558	42,061,984
Accumulated deficit	(58,677,824)	(53,643,615)
Accumulated other comprehensive income (loss)	133,723	(168,177)
Total shareholders' equity (deficit)	63,514,728	(11,645,007)
Noncontrolling interests	31,043,324	0
Total equity (deficit)	94,558,052	(11,645,007)
Total liabilities and equity (deficit)	98,433,652	9,682,454
Series A Preferred Shares
Equity (deficit)
Series A Preferred Shares, CHF 0.10 par value; 22,880,908 authorized; 22,880,908 shares issued and outstanding as of December 31, 2021 (liquidation preference of $33.4 million);	0	72,466
Common Shares
Equity (deficit)
Common Shares	0	38,537
Class A Ordinary Shares
Equity (deficit)
Common Shares	3,693	0
Class C Ordinary Shares
Equity (deficit)
Common Shares	$ 1,578	$ 0

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) $ in Millions	Dec. 31, 2021 USD ($) shares
Treasury Shares (in shares)	1,942,837
Series A Preferred Shares
Series A Preferred Shares, shares authorized (in shares)	22,880,908
Series A Preferred Shares, shares issued (in shares)	22,880,908
Series A Preferred Shares, shares outstanding (in shares)	22,880,908
Series A Preferred Shares, liquidation preference | $	$ 33.4
MoonLake AG Common Shares
Common Shares, shares authorized (in shares)	13,119,092
Common Shares, shares issued (in shares)	12,161,331
Common Shares, shares outstanding (in shares)	10,218,495

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)		3 Months Ended			6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021		Jun. 30, 2022	Jun. 30, 2021
Operating expenses
Research and development		$ (11,400,541)	$ (29,867,218)	[1]	$ (21,655,404)	$ (29,867,218)	[1]
General and administrative		(6,251,636)	(2,814,781)	[1]	(11,939,088)	(3,165,236)	[1]
Total operating expenses		(17,652,177)	(32,681,999)	[1]	(33,594,492)	(33,032,454)	[1]
Operating loss		(17,652,177)	(32,681,999)	[1]	(33,594,492)	(33,032,454)	[1]
Other income (expense), net		245,130	(3,780)	[1]	314,635	(4,998)	[1]
Loss before income tax		(17,407,047)	(32,685,779)	[1]	(33,279,857)	(33,037,452)	[1]
Income tax expense		(9,282)	0	[1]	(16,614)	0	[1]
Net loss		(17,416,329)	(32,685,779)	[1]	(33,296,471)	(33,037,452)	[1],[2]
Of which: net loss attributable to controlling interests shareholders		(12,120,719)	(32,685,779)	[1]	(22,754,974)	(33,037,452)	[1]
Of which: net loss attributable to noncontrolling interests shareholders		(5,295,610)	0	[1]	(10,541,497)	0	[1]
Actuarial income (loss) on employee benefit plans		101,597	(1,000)	[1]	367,866	(1,000)	[1]
Other comprehensive income (loss)		101,597	(1,000)	[1]	367,866	(1,000)	[1]
Comprehensive loss		(17,314,732)	(32,686,779)	[1]	(32,928,605)	(33,038,452)	[1]
Comprehensive loss attributable to controlling interests shareholders		(12,052,683)	(32,686,779)	[1]	(22,508,629)	(33,038,452)	[1]
Comprehensive loss attributable to noncontrolling interests		$ (5,262,049)	$ 0	[1]	$ (10,419,976)	$ 0	[1]
Weighted-average number of Shares, basic (in shares)		35,201,713	11,278,991		20,191,072	15,632,208
Weighted-average number of Shares, diluted (in shares)		35,201,713	11,278,991		20,191,072	15,632,208
Basic net loss per share attributable to controlling interest shareholders (USD per share)		$ (0.34)	$ (2.90)		$ (1.13)	$ (2.11)
Diluted net loss per share attributable to controlling interest shareholders (USD per share)		$ (0.34)	$ (2.90)		$ (1.13)	$ (2.11)
Class A Ordinary Shares
Operating expenses
Weighted-average number of Shares, basic (in shares)	[3]	35,201,713	0	[1]	20,191,072	0	[1]
Weighted-average number of Shares, diluted (in shares)	[3]	35,201,713	0	[1]	20,191,072	0	[1]
Basic net loss per share attributable to controlling interest shareholders (USD per share)		$ (0.34)	$ 0	[1]	$ (1.13)	$ 0	[1]
Diluted net loss per share attributable to controlling interest shareholders (USD per share)		$ (0.34)	$ 0	[1]	$ (1.13)	$ 0	[1]
MoonLake AG Common Shares
Operating expenses
Weighted-average number of Shares, basic (in shares)	[3]	0	11,278,991	[1]	0	15,632,208	[1]
Weighted-average number of Shares, diluted (in shares)	[3]	0	11,278,991	[1]	0	15,632,208	[1]
Basic net loss per share attributable to controlling interest shareholders (USD per share)		$ 0	$ (2.90)	[1]	$ 0	$ (2.11)	[1]
Diluted net loss per share attributable to controlling interest shareholders (USD per share)		$ 0	$ (2.90)	[1]	$ 0	$ (2.11)	[1]
[1] 1 For additional details, refer to Note 3 - Basis of Presentation and Significant Accounting Policies - Restatement of Consolidated Financial Statements as of and for the three . 3 For additional details, refer to Note 3 - Basis of Presentation and Significant Accounting Policies - Restatement of Consolidated Financial Statements as of and for the three and six months ended June 30, 2021 . 2 As a result of the Business Combination, the Company has retroactively restated the weighted average number of shares outstanding prior to April 5, 2022 to give effect to

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)	Total		Class A Ordinary Shares	Class C Ordinary Shares	Previously Reported	Revision of Prior Period, Adjustment	Total Shareholders' Equity (Deficit)	Total Shareholders' Equity (Deficit) Previously Reported	Total Shareholders' Equity (Deficit) Revision of Prior Period, Adjustment	MoonLake AG Series A Preferred Shares	MoonLake AG Series A Preferred Shares Previously Reported	MoonLake AG Series A Preferred Shares Revision of Prior Period, Adjustment	MoonLake AG Common Shares	MoonLake AG Common Shares Class A Ordinary Shares	MoonLake AG Common Shares Class C Ordinary Shares	MoonLake AG Common Shares Previously Reported	MoonLake AG Common Shares Revision of Prior Period, Adjustment	MoonLake AG Common Shares Held In Treasury	MoonLake AG Common Shares Held In Treasury Previously Reported	MoonLake AG Common Shares Held In Treasury Revision of Prior Period, Adjustment	Additional Paid-In Capital	Additional Paid-In Capital Previously Reported	Accumulated Deficit	Accumulated Deficit Previously Reported	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Previously Reported	Noncontrolling Interests
Common stock, beginning balance (in shares) at Mar. 10, 2021													33,638,698			1,000,000	32,638,698
Equity, beginning balance at Mar. 10, 2021	$ 106,508				$ 106,508	$ 0	$ 106,508	$ 106,508	$ 0				$ 106,508			$ 106,508							$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(351,673)						(351,673)																(351,673)
Preferred stock, ending balance (in shares) at Mar. 31, 2021										0
Common stock, ending balance (in shares) at Mar. 31, 2021													33,638,698
Equity, end balance at Mar. 31, 2021	(245,165)						(245,165)			$ 0			$ 106,508								$ 0		(351,673)		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(32,685,779)	[1]					(32,685,779)																(32,685,779)
Share-based compensation expense through transfer of existing Common shares (3,330,231) to Merck KGaA, Darmstadt, Germany, and conversion of transferred shares into Series A Preferred shares (in shares)										3,330,231			(3,330,231)
Share-based compensation expense through transfer of existing Common shares (3,330,231) to Merck KGaA, Darmstadt, Germany, and conversion of transferred shares into Series A Preferred shares	4,851,000						4,851,000			$ 10,544			$ (10,544)								4,851,000
Share-based compensation granted under the equity incentive plan ESPP, and reverse vesting of Restricted Founder Shares	1,250,365						1,250,365														1,250,365
Conversion and transfer of shares between classes (in shares)										19,207,697			(19,207,697)
Conversion and transfer of shares between classes	27,659,237									$ 60,816			$ (60,816)										27,659,237				$ 27,659,237
Other comprehensive income (loss)	(1,000)	[1]					(1,000)																		(1,000)
Preferred stock, ending balance (in shares) at Jun. 30, 2021										22,537,928
Common stock, ending balance (in shares) at Jun. 30, 2021													11,100,770
Equity, end balance at Jun. 30, 2021	828,658						828,658			$ 71,360			$ 35,148								33,760,602		(33,037,452)		(1,000)
Preferred stock, beginning balance (in shares) at Dec. 31, 2021										22,880,908	680,196	22,200,712
Common stock, beginning balance (in shares) at Dec. 31, 2021													12,161,331			361,528	11,799,803
Held in Treasury, beginning balance (in shares) at Dec. 31, 2021																		(1,942,837)	(57,756)	(1,885,081)
Equity, beginning balance at Dec. 31, 2021	(11,645,007)				(11,645,007)	0	(11,645,007)	(11,645,007)	0	$ 72,466	$ 72,466		$ 38,537			$ 38,537		$ (6,202)	$ (6,202)		42,061,984	$ 42,061,984	(53,643,615)	$ (53,643,615)	(168,177)	$ (168,177)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(15,880,142)						(15,880,142)																(15,880,142)
Share-based compensation granted under the equity incentive plan ESPP, and reverse vesting of Restricted Founder Shares (in shares)																		1,177,354
Share-based compensation granted under the equity incentive plan ESPP, and reverse vesting of Restricted Founder Shares	1,992,662						1,992,662											$ 3,791			1,988,871
Other comprehensive income (loss)	266,269						266,269																		266,269
Preferred stock, ending balance (in shares) at Mar. 31, 2022										22,880,908
Common stock, ending balance (in shares) at Mar. 31, 2022													12,161,331	0	0
Held in Treasury, ending balance (in shares) at Mar. 31, 2022																		(765,483)
Equity, end balance at Mar. 31, 2022	(25,266,218)						(25,266,218)			$ 72,466			$ 38,537	$ 0	$ 0			$ (2,411)			44,050,855		(69,523,757)		98,092		0
Preferred stock, beginning balance (in shares) at Dec. 31, 2021										22,880,908	680,196	22,200,712
Common stock, beginning balance (in shares) at Dec. 31, 2021													12,161,331			361,528	11,799,803
Held in Treasury, beginning balance (in shares) at Dec. 31, 2021																		(1,942,837)	(57,756)	(1,885,081)
Equity, beginning balance at Dec. 31, 2021	(11,645,007)				$ (11,645,007)	$ 0	(11,645,007)	$ (11,645,007)	$ 0	$ 72,466	$ 72,466		$ 38,537			$ 38,537		$ (6,202)	$ (6,202)		42,061,984	$ 42,061,984	(53,643,615)	$ (53,643,615)	(168,177)	$ (168,177)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(33,296,471)
Other comprehensive income (loss)	367,866
Preferred stock, ending balance (in shares) at Jun. 30, 2022										0
Common stock, ending balance (in shares) at Jun. 30, 2022			36,925,639	15,775,472									0	36,925,639	15,775,472
Held in Treasury, ending balance (in shares) at Jun. 30, 2022																		0
Equity, end balance at Jun. 30, 2022	94,558,052						63,514,728			$ 0			$ 0	$ 3,693	$ 1,578			$ 0			122,053,558		(58,677,824)		133,723		31,043,324
Preferred stock, beginning balance (in shares) at Mar. 31, 2022										22,880,908
Common stock, beginning balance (in shares) at Mar. 31, 2022													12,161,331	0	0
Held in Treasury, beginning balance (in shares) at Mar. 31, 2022																		(765,483)
Equity, beginning balance at Mar. 31, 2022	(25,266,218)						(25,266,218)			$ 72,466			$ 38,537	$ 0	$ 0			$ (2,411)			44,050,855		(69,523,757)		98,092		0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(17,416,329)						(12,120,719)																(12,120,719)				(5,295,610)
Share-based compensation granted under the equity incentive plan ESPP, and reverse vesting of Restricted Founder Shares	2,484,223						1,701,614														1,701,614						782,609
Conversion and transfer of shares between classes (in shares)										(22,880,908)			(12,161,331)	18,501,284	15,775,472			765,483
Conversion and transfer of shares between classes	1,578						1,578			$ (48,527)			$ (25,807)	$ 1,850	$ 1,578			$ 1,614			70,870
Other comprehensive income (loss)	101,597						68,035																		68,035		33,562
Noncontrolling interests recognized on historical net assets of MoonLake AG in connection with the Business Combination	$ 0						8,346,506			$ (23,939)			$ (12,730)					$ 797			(14,551,870)		22,966,652		(32,404)		(8,346,506)
Issuance of Class A ordinary shares upon business combination (in shares)	18,424,355													18,424,355
Issuance of Class A Ordinary Shares upon Business Combination	$ 134,653,201						90,783,932							$ 1,843							90,782,089						43,869,269
Preferred stock, ending balance (in shares) at Jun. 30, 2022										0
Common stock, ending balance (in shares) at Jun. 30, 2022			36,925,639	15,775,472									0	36,925,639	15,775,472
Held in Treasury, ending balance (in shares) at Jun. 30, 2022																		0
Equity, end balance at Jun. 30, 2022	$ 94,558,052						$ 63,514,728			$ 0			$ 0	$ 3,693	$ 1,578			$ 0			$ 122,053,558		$ (58,677,824)		$ 133,723		$ 31,043,324
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense through transfer of existing Common shares (3,330,231) to Merck KGaA, Darmstadt, Germany, and conversion of transferred shares into Series A Preferred shares (in shares)			36,925,639
Conversion and transfer of shares between classes (in shares)															15,775,472
Issuance of Class A ordinary shares upon business combination (in shares)			18,501,284
Common stock, ending balance (in shares) at Apr. 05, 2022	52,701,111
[1] 1 For additional details, refer to Note 3 - Basis of Presentation and Significant Accounting Policies - Restatement of Consolidated Financial Statements as of and for the three .

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - MoonLake AG Series A Preferred Shares	3 Months Ended
	Jun. 30, 2021 USD ($) shares
Share-based compensation expense through transfer of existing Common shares (3,330,231) to Merck KGaA, Darmstadt, Germany, and conversion of transferred shares into Series A Preferred shares (in shares)	3,330,231
Conversion and transfer of shares between classes (in shares)	19,207,697
Issuance costs | $	$ 279,364

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flow from operating activities
Net loss	$ (33,296,471)	$ (33,037,452)	[1],[2]
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	5,776	213	[2]
Share-based payment	4,473,094	1,250,365	[2]
Share-based compensation for the in-licensing agreement	0	4,851,000	[2]
Net periodic pension benefit cost for the qualified pension plan	151,380	4,645	[2]
Other non-cash items	20,913	0	[2]
Changes in operating assets and liabilities:
Other receivables	(408,274)	(10,778)	[2]
Prepaid expenses	(3,663,606)	(45,318)	[2]
Trade and other payables	(778,229)	549,268	[2]
Accrued expenses and other current liabilities	(1,450,930)	733,484	[2]
Net cash flow used in operating activities	(34,946,347)	(25,704,573)	[2]
Cash flow from investing activities
Purchase of property and equipment	(16,008)	(20,683)	[2]
Net cash flow used in investing activities	(16,008)	(20,683)	[2]
Cash flow from financing activities
Issuance of shares at incorporation	0	106,508	[2]
Issuance of Series A Preferred Shares, net	0	27,659,237	[2]
Proceeds from Business Combination	134,646,009	0	[2]
Contribution for Par Value of Class V Shares	42,935	0	[2]
Repayment of Loan Liability	(15,000,000)	0	[2]
Net cash flow provided by financing activities	119,688,944	27,765,745	[2]
Effect of movements in exchange rates on cash held	(57,502)	0	[2]
Net change in cash	84,669,087	2,040,489	[2]
Cash, beginning of period	8,038,845	0	[2]
Cash, end of period	92,707,932	2,040,489	[2]
Supplemental disclosure of non-cash investing information:
Property and equipment purchased but not paid	$ 0	$ 2,580
[1] 1 For additional details, refer to Note 3 - Basis of Presentation and Significant Accounting Policies - Restatement of Consolidated Financial Statements as of and for the three . 3 For additional details, refer to Note 3 - Basis of Presentation and Significant Accounting Policies - Restatement of Consolidated Financial Statements as of and for the three and six months ended June 30, 2021 .

Overview of the Company

Overview of the Company	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Overview of the Company	Overview of the Company Corporate Information MoonLake Immunotherapeutics is a clinical-stage biotechnology company engaged in leveraging Nanobody® technology to develop next-level medicines for immunologic diseases, including inflammatory skin and joint diseases. MoonLake Immunotherapeutics focuses on developing its novel tri-specific Nanobody® Sonelokimab (“SLK”), an IL-17A and IL-17F inhibitor, in multiple inflammatory diseases in dermatology and rheumatology where the pathophysiology is known to be driven by IL-17A and IL-17F. Unless the context otherwise requires, “MoonLake,” and the “Company” refer to the combined company following the Business Combination (as defined in Note 2 - Business Combination Agreement with Helix and Recapitalization

Business Combination Agreement

Business Combination Agreement with Helix and Recapitalization	6 Months Ended
	Jun. 30, 2022
Reverse Recapitalization [Abstract]
Business Combination Agreement with Helix and Recapitalization	Business Combination Agreement with Helix and Recapitalization On April 5, 2022 (the “Closing Date”), MoonLake Immunotherapeutics, a Cayman Islands exempted company (formerly known as Helix Acquisition Corp.) (prior to the Closing Date, “Helix” and after the Closing Date, “MoonLake” or the “Company”) consummated the previously announced business combination (the “Closing”) pursuant to that certain Business Combination Agreement dated October 4, 2021 (the “Business Combination Agreement”), by and among Helix, MoonLake Immunotherapeutics AG, a Swiss stock corporation (Aktiengesellschaft) registered with the commercial register of the Canton of Zug, Switzerland under the number CHE-433.093.536 (“MoonLake AG”), the existing equity holders of MoonLake AG set forth on the signature pages to the Business Combination Agreement and the equityholders of MoonLake AG that executed joinders to the Business Combination Agreement (collectively, the “ML Parties”), Helix Holdings LLC, a Cayman Islands limited liability company and the sponsor of Helix (the “Sponsor”), and the representative of the ML Parties (such transactions contemplated by the Business Combination Agreement collectively, the “Business Combination”). Net proceeds from the Business Combination totaled $134.7 million, which included funds held in Helix’s trust account and the completion of a concurrent PIPE investment. Pursuant to the Business Combination Agreement, approved by the boards of directors of each of MoonLake AG and Helix, (i) the Company changed its name from Helix Acquisition Corp. to MoonLake Immunotherapeutics, and (ii) MoonLake AG merged with and into MoonLake, with MoonLake AG as the surviving company in the Business Combination and, after giving effect to such Business Combination, MoonLake AG as a subsidiary of MoonLake. The Business Combination Agreement provided for, among other things, the following transactions: i. Two business days prior to the Closing Date, the ML Parties and MoonLake AG effectuated a restructuring of MoonLake AG’s share capital to, among other things, (x) convert the existing Series A preferred shares of MoonLake AG, par value of CHF 0.10 per share, into an equal number of MoonLake AG Common Shares such that the ML Parties held a single class of capital share of MoonLake AG immediately prior to the Closing and (y) approve a capital increase for the issuance of 4,006,736 Class V Voting Shares of MoonLake AG, par value CHF 0.01 per share, to Helix, each Class V Voting Share due to its lower par value having ten times the voting power of a MoonLake AG Common Share (the “Restructuring”). ii. At the Closing, 2,875,000 Class B ordinary shares of Helix, par value $0.0001 per share (the “Class B Ordinary Shares”), constituting all of the then-outstanding Class B Ordinary Shares, were automatically converted into Class A Ordinary Shares on a one-for-one basis. iii. At the Closing, Helix amended and restated its existing memorandum and articles of association to, among other things, establish a share structure consisting of the Class A Ordinary Shares, which carry economic and voting rights, and Class C Ordinary Shares, which carry voting rights but no economic rights. iv. On the Closing Date, Helix paid all unpaid transaction expenses and contributed $134.7 million to MoonLake AG, including $15.0 million loan repayment pursuant to a convertible loan agreement dated March 20, 2022, by and between MoonLake AG and Cormorant Asset Management LP (“Cormorant”), and assigned by Cormorant to Helix on March 31, 2022. v. On the Closing Date, following the Restructuring, Biotechnology Value Fund, L.P., Biotechnology Value Fund II, L.P., and Biotechnology Value Trading Fund OS, L.P. (collectively, the “BVF Shareholders”) assigned all of their MoonLake AG Common Shares to Helix and Helix issued to the BVF Shareholders 18,501,284 Class A Ordinary Shares. vi. On the Closing Date, following the Restructuring, Helix issued 15,775,472 Class C Ordinary Shares to the ML Parties (other than the BVF Shareholders). Please refer to Note 9 - Shareholders’ equity (deficit) for additional details on the exchange mechanism adopted. Additionally, on the Closing Date, Helix issued to the PIPE Investors (as defined below in the section entitled “PIPE Financing”) an aggregate of 11,700,000 Class A Ordinary Shares. As of the open of trading on April 6, 2022, the Class A Ordinary Shares, formerly those of Helix, began trading on The Nasdaq Capital Market (“Nasdaq”) under the trading symbol “MLTX”. PIPE Financing On October 4, 2021, concurrently with the execution of the Business Combination Agreement, and subsequently on March 31, 2022 and April 4, 2022, Helix entered into subscription agreements (collectively, the “PIPE Subscription Agreements”) with certain investors (collectively, the “PIPE Investors,” which includes affiliates of the Sponsor and certain existing equityholders of MoonLake AG) pursuant to which, and on the terms and subject to the conditions of which, the PIPE Investors have collectively subscribed for 11,700,000 Class A Ordinary Shares, 11,600,000 shares of which were issued at a price of $10.00 per share for gross proceeds of $116.0 million and 100,000 shares of which were issued to placement agents of the PIPE in satisfaction of an aggregate of $1.0 million of fees owed by Helix to such placement agents. Summary of Net Proceeds The following table summarizes the elements of the net proceeds from the Business Combination: in thousands Investments held in Trust Account $ 115,051 Less cash to cover redemptions of the Class A Ordinary Shares issued by Helix prior to the Closing Date (80,842) Plus PIPE investment 116,000 Less Helix transaction expense (15,520) of which accrued expenses (5,798) of which deferred IPO underwriting fee (4,025) of which other transaction expenses (5,697) Available Closing Date Cash $ 134,689 Summary of Ordinary Shares Issued The following table summarizes the number of Ordinary Shares outstanding immediately following the consummation of the Business Combination: Helix Acquisition Corp. Ordinary Shares prior to the Business Combination 14,805,000 Of which Class A Ordinary Shares (Helix management - IPO private placement shares) 430,000 Of which Class A Ordinary Shares redeemable 11,500,000 Of which Class B Ordinary Shares (Helix management - sponsor promote) 2,875,000 Less redemptions of the Class A Ordinary Shares issued by Helix prior to the Closing Date (8,080,645) Plus issuance of Helix Class A Ordinary Shares to PIPE Investors 11,700,000 Plus issuance of Helix Class A Ordinary Shares to BVF Shareholders 18,501,284 Total MoonLake Class A Ordinary Shares Outstanding at Closing 36,925,639 Plus issuance of Helix Class C Ordinary Shares to ML Parties (other than the BVF Shareholders) 15,775,472 Total MoonLake Class A and Class C Ordinary Shares Outstanding at Closing 52,701,111 Further information about the Business Combination can be found on Form S-1/A filed with the SEC on July 26, 2022, declared effective on August 2, 2022 and to the exhibits included therein, available at www.sec.gov.

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements include those of the Company and its subsidiaries, MoonLake AG and MoonLake Immunotherapeutics Ltd., after elimination of all intercompany accounts and transactions. The accompanying unaudited condensed consolidated financial statements and notes hereto have been prepared in conformity with the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial reporting and, therefore, omit or condense certain footnotes and other information normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as set forth by the Financial Accounting Standards Board (“FASB”). Any reference in these notes to applicable guidance is meant to refer to the authoritative U.S. GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASU”) of the FASB. In the opinion of management, all adjustments necessary for a fair statement of the financial information, which are of a normal and recurring nature, have been made for the interim periods reported. Results of operations for the three and six months ended June 30, 2022 and 2021 are not necessarily indicative of the results for the entire fiscal year or any other period. The unaudited condensed consolidated financial information for the three and six months ended June 30, 2022 and 2021 have been prepared on the same basis as and should be read in conjunction with MoonLake AG’s audited financial statements and notes thereto for the year ended December 31, 2021 included in the final prospectus filed with the SEC pursuant to Rule 424(b)(3) on August 2, 2022. Pursuant to ASC 805, for financial accounting and reporting purposes, MoonLake AG was deemed the accounting acquirer and Helix was treated as the accounting acquiree, and the Business Combination was accounted for as a reverse recapitalization. Accordingly, the Business Combination was treated as the equivalent of MoonLake AG issuing shares for the net assets of Helix, accompanied by a recapitalization. The net assets of Helix were stated at historical costs, with no goodwill or other intangible assets recorded, and are consolidated with MoonLake AG’s financial statements on the Closing Date. In accordance with the Business Combination Agreement, the ML Parties received 33.638698 Ordinary Shares in the Company for every MoonLake AG Common Share or Series A Preferred Share (the “Exchange Ratio”). The BVF Shareholders received 18,501,284 Class A Ordinary Shares whereas the rest of the ML Parties (excluding the BVF Shareholders) received 15,775,472 Class C Ordinary Shares which can be converted into Class A Ordinary Shares at the discretion of the shareholder (refer to Note 9 — Shareholders’ equity (deficit) for further details on the classes of ordinary shares). The number of shares, and the number of shares within the net income (loss) per share held by the ML Parties in MoonLake AG prior to the Business Combination have been adjusted by the Exchange Ratio to reflect the equivalent number of ordinary shares in the Company (identified as “the equivalent of” throughout these condensed consolidated financial statements). Certain MoonLake AG shareholders (ML Parties other than the BVF Shareholders), did not exchange their shares in MoonLake AG for Class A Ordinary Shares in the Company and therefore continue to hold an economic interest in MoonLake AG and Class C Ordinary Shares in the Company. The Company recognized a noncontrolling interest equal to the ML Parties’ (other than the BVF Shareholders) proportionate interest in the net assets of MoonLake AG. All amounts are presented in U.S. Dollar (“$”), unless otherwise indicated. The term “Swiss franc” and “CHF” refer to the legal currency of Switzerland, and “€” refers to euros. Restatement of Consolidated Financial Statements as of and for the Three and Six-months Ended June 30, 2021 On April 28, 2021, a shareholders' agreement between MoonLake AG, its Series A investors, and its co-founders imposed a reverse vesting condition on 90% of the total 110,000 Common Shares (the equivalent of 3,700,257 Class C Ordinary Shares) held by each of the three co-founders. Therefore, 99,000 Common Shares (the equivalent of 3,330,231 Class C Ordinary Shares) held by each of the co-founders were subject to these restrictions and considered unvested (the “Restricted Founder Shares”). The Restricted Founder Shares vest on the 28th of each month at a rate of 4.166% over a period of two years until April 28, 2023. If, before the end of the vesting period, the contractual relationship of the relevant co-founders is terminated, MoonLake AG in first priority, or any third party designated by it, and the other shareholders in second priority pro rata to their shareholdings, shall have an option to purchase all or a pro rata portion of the leaver shares that are unvested on the day the termination becomes effective at nominal value of CHF 0.10 per share. The Restricted Founder Shares are legally outstanding and continue to have voting and dividend rights. Management had initially determined that the reverse vesting condition was necessary to induce the sale of the Series A Preferred Shares and did not contain a compensatory element. However, on December 13, 2021 a termination agreement was reached between one of the co-founders and MoonLake AG to terminate the co-founder's contractual relationship and, as a result, 57,756 Common Shares (the equivalent of 1,942,837 Class C Ordinary Shares) were purchased by MoonLake AG. Management concluded that this termination agreement was reflective of the intention of the parties and therefore the substance of the previous agreement. As a result, management concluded that its accounting for the Restricted Founder Shares should have instead reflected a service condition and should be accounted for as a share-based compensation arrangement. Accounting for the Restricted Founder Shares as share-based compensation increased general and administrative expenses to reflect the recognition of the non-cash expense of the fair value of the Restricted Founder Shares at the grant date of April 28, 2021 over the two-year vesting period, and led to a corresponding increase in additional paid in capital. The previously unrecognized share-based compensation expense amounts to $1.3 million for three months ended June 30, 2021, and for the period from inception to June 30, 2021, causing an increase in net loss, general and administrative expenses and additional paid-in capital of the same amount in the respective periods. Net loss per share was previously $(53.49) ((1.59), assuming the retroactive adjustment of the EPS denominator by multiplying MoonLake AG Common Shares by the Exchange Ratio) for the three months ended June 30, 2021, and $(47.80) ((1.42), assuming the retroactive adjustment of the EPS denominator by multiplying MoonLake AG Common Shares by the Exchange Ratio) for the period from inception to June 30, 2021. The increase in net loss, and exclusion of unvested Restricted Founder Shares in the denominator leads to corrected values of $(97.48) ((2.90), assuming the equivalent number of shares by applying the Exchange Ratio) for the three months ended June 30, 2021, and $(71.09) ((2.11), assuming the retroactive adjustment of the EPS denominator by multiplying MoonLake AG Common Shares by the Exchange Ratio) for the period from inception to June 30, 2021. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires the Company to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of expenses. The significant judgments, estimates and assumptions relevant to the Company relate to: • determining whether the in-process research and development expenditure (“IPR&D”) has an alternative future use; • estimating the fair value of the portion of the aggregate purchase price relating to its own shares in connection with the acquisition of the in-license agreement; • determining assumptions used in determining the fair value of share-based compensation; and • estimating the recoverability of the deferred tax asset. The Company bases its judgments and estimates on various factors and information, which may include, but are not limited to, the Company’s forecasts and future plans, current economic conditions and observable market-based transactions of its own shares, the results of which form the basis for making judgments about the carrying value of assets and liabilities and recorded amounts of expenses that are not readily apparent from other sources. To the extent there are material differences between the Company’s estimates and the actual results, the Company’s future results of operation may be affected. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less at the date of purchase to be cash equivalents. Cash and cash equivalents are recorded at cost, which approximates fair value. As of June 30, 2022 and December 31, 2021, the Company did not have any cash equivalents. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist of cash accounts in a large financial institution which, at times, may exceed the CHF 100,000 deposit protection limit. The Company believes it is not exposed to significant credit risk due to the financial strength of the depository institutions in which the cash and cash equivalents are held. Fair Value Measurements The Company follows the guidance included in ASC 820, Fair Value Measurement . Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. There are three levels of inputs to fair value measurements: • Level 1, meaning the use of quoted prices for identical instruments in active markets; • Level 2, meaning the use of quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active or are directly or indirectly observable; and • Level 3, meaning the use of unobservable inputs. Observable market data is used when available. Transfers between Levels 1, 2 or 3 within the fair value hierarchy are recognized at the end of the reporting period when the respective transaction occurred. Cash, accounts payable and accrued liabilities approximate their fair values as of June 30, 2022 and December 31, 2021, due to their short-term nature. Pension plan assets fair value is determined based on Level 2 inputs. Segment Information The Company operates as a single operating segment. The Company’s chief operating decision maker, its Chief Executive Officer, manages the Company’s operations on a stand-alone basis for the purposes of allocating resources, and assessing financial performance. Property and Equipment Property and equipment, net is stated at cost, net of accumulated depreciation. Depreciation is computed using the straight-line method based on the estimated useful lives of three Research and Development Contract Costs and Accruals Research and development expenses include employee payroll, consulting, contract research and contract manufacturing costs attributable to research and development activities and are expensed as incurred. Upfront payments and milestone payments made for the licensing of technology are expensed as research and development expenses in the period in which they are incurred. Nonrefundable advance payments for goods or services to be received in the future for use in research and development activities are recorded as prepaid expenses. The prepaid amounts are expensed as the related goods are delivered or the services are performed. The Company has entered into various research and development contracts with companies both inside and outside of the United States. These agreements are generally cancelable, and related payments are recorded as research and development expenses as incurred. The Company records accruals for estimated ongoing research costs. When evaluating the adequacy of the accrued liabilities, the Company analyzes progress of the studies or trials, including the phase or completion of events, invoices received and contracted costs. Significant judgments and estimates are made in determining the accrued balances at the end of any reporting period. Actual results could differ from the Company’s estimates. The Company’s historical accrual estimates have not been materially different from the actual costs. Share-based Transaction Goods or services received in a share-based payment transaction are measured using a fair value-based measure. The Company measures and recognizes compensation expense for all share-based awards made to employees and directors based on estimated fair values. The fair value of employee share options is estimated on the date of grant using the Black-Scholes option pricing model. Share-based compensation expense is adjusted for forfeitures as they occur. Foreign Currency The functional currency of the Company and its subsidiaries is the U.S. dollar. Balances and transactions denominated in foreign currencies are converted as follows: monetary assets and liabilities are translated using exchange rates in effect at the balance sheet dates and non-monetary assets and liabilities are translated at historical exchange rates. Revenue and expenses are translated at the daily exchange rate on the respective accounting date. Gains or losses from foreign currency translation are included in the consolidated statement of operations. The Company recognized foreign currency transaction gain of $340,553 for the six months ended June 30, 2022 (“the period ended June 30, 2022”), and a gain of $268,292 for the three months ended June 30, 2022. For the three and six months ended June 30, 2021, MoonLake AG recognized a foreign currency transaction loss of $3,493 and $4,690 respectively. Income Taxes The Company accounts for income taxes by using the asset and liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. A valuation allowance is recorded to the extent it is more likely than not that a deferred tax asset will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. Net Loss per Class A Ordinary Shares Basic net loss per Class A Ordinary Share is calculated using the two-class method under which earnings are allocated to both Class A Ordinary Shares and participating securities. Basic net loss per share is calculated by dividing the net loss attributable to Class A Ordinary Shares by the weighted-average number of Class A Ordinary Shares outstanding for the period. The diluted net loss per Class A Ordinary Share is computed by dividing the net loss using the weighted-average number of Class A Ordinary Shares and, if dilutive, potential Class A Ordinary Shares outstanding during the period. In periods in which the Company reports a net loss attributable to shareholders of Class A Ordinary Shares, diluted net loss per share attributable to shareholders of Class A Ordinary Shares is the same as basic net loss per share attributable to shareholders of Class A Ordinary Shares, since dilutive Class A Ordinary Shares are not assumed to be outstanding if their effect is anti-dilutive. Acquisitions The Company evaluates acquisitions of assets and other similar transactions to assess whether or not the transaction should be accounted for as a business combination or asset acquisition by first assessing whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. The Company acquired the Sonelokimab program (the "SLK Program") during the period ended December 31, 2021 and determined that substantially all of the fair value of the gross assets acquired related to IPR&D of SLK. Therefore, this transaction was accounted for as an asset acquisition. IPR&D represents incomplete technologies that the Company acquires, which at the time of acquisition, are still under development and have no alternative future use. The fair value of such technologies is expensed upon acquisition. A technology is considered to have an alternative future use if it is probable that the Company will use the asset in its current, incomplete state as it existed at the acquisition date, in another research and development project that has not yet commenced, and economic benefit is anticipated from that use. If a technology is determined to have an alternative future use, then the fair value of the program would be recorded as an asset on the balance sheet rather than expensed. Contingent consideration payments (for example milestone payments due upon the occurrence of a specific event) in asset acquisitions are recognized when the consideration is paid or becomes payable (unless the contingent consideration meets the definition of a derivative, in which case the amount becomes part of the cost in the asset acquired). Upon recognition of the contingent consideration payment, the amount is expensed if it relates to IPR&D or capitalized if it relates to a developed product which is generally considered to be when clinical trials have been completed and regulatory approval obtained. Future royalty payments due on net sales will be recognized in cost of goods sold when net sales are recognized. Pension Accounting The Company accounts for pension assets and liabilities in accordance with ASC 715, Compensation – Retirement Benefits , which requires the recognition of the funded status of pension plans in the Company’s consolidated balance sheet. The liability in respect to defined benefit pension plans is the projected benefit obligation calculated annually by independent actuaries using the projected unit credit method. The projected benefit obligation as of June 30, 2022 represents the actuarial present value of the estimated future payments required to settle the obligation that is attributable to employee services rendered before that date. Service costs for such pension plans, represented in the net periodic benefit cost, are included in the personnel expenses of the various functions where the employees are engaged. The other components of net benefit cost are included in the consolidated statement of operations separately from the service cost component, in “other income (expenses), net.” Plan assets are recorded at their fair value. Gains or losses arising from plan curtailments or settlements are accounted for at the time they occur. Any net pension asset is limited to the present value of the future economic benefits available to the Company in the form of refunds from the plan or expected reductions in future contributions to the plan. Actuarial gains and losses arising from differences between the actual and the expected return on plan assets are recognized in accumulated other comprehensive income (loss). Recently Issued Accounting Pronouncements not yet Adopted The Company is an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012 (“JOBS Act”). As such the Company is eligible for exemptions from various reporting requirements applicable to other public companies that are not emerging growth companies, including reduced reporting and extended transition periods to comply with new or revised accounting standards for public business entities. The Company has elected to avail itself of this exemption and, therefore, will not be subject to the timeline for adopting new or revised accounting standards for public business entities that are not emerging growth companies, and will follow the transition guidance applicable to private companies. In February 2016, the FASB issued ASU No. 2016-02, Leases Topic 842 (“ASU 2016-02”) . The guidance in ASU 2016-02 supersedes the lease recognition requirements in ASC 840, Leases . ASU 2016-02 requires an entity to recognize assets and liabilities arising from a lease for both financing and operating leases, along with additional qualitative and quantitative disclosures. ASU 2016-02 is effective for fiscal years beginning after December 15, 2021, and for interim periods within fiscal years beginning after December 15, 2022, with early adoption permitted. The Company has continued to account for the open-ended office lease agreement as an operating lease under the guidance prior to ASU 2016-02 through the consolidated statement of operations for the period ended December 31, 2021. In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842): Targeted Improvements , which allows entities to elect a modified retrospective transition method where entities may continue to apply the existing lease guidance during the comparative periods and apply the new lease requirements through a cumulative effect adjustment in the period of adoptions rather than in the earliest period presented.

Risks and Liquidity

Risks and Liquidity	6 Months Ended
	Jun. 30, 2022
Risks and Uncertainties [Abstract]
Risks and Liquidity	Risks and Liquidity Going Concern, Liquidity and Capital Resources The Company incurred a loss of $33.3 million for the six months ended June 30, 2022. As of June 30, 2022, the Company’s current assets exceeded its current liabilities by $94.5 million and had $92.7 million of unrestricted cash. On April 5, 2022 the Company announced the closing of the Business Combination and the total funding raised amounted to $134.7 million (net of transaction related expenses). Management believes that the Company has sufficient capital to fund its operations and capital expenditures into the second half of 2024. Coronavirus Pandemic In March 2020, the World Health Organization declared the COVID-19 outbreak a pandemic which continues to evolve. To date, the impact of COVID-19 on the Company’s business, operations and development timelines has been limited. However, the future impact of COVID-19 on the Company's business is uncertain. MoonLake will continue to actively monitor the evolving situation related to COVID-19 and may take further actions that alter its operations, including those that may be required by Switzerland state or local authorities, or that the Company determines are in the best interests of its employees and other third parties with whom MoonLake does business. At this point, the extent to which COVID-19 may affect the Company's future business, operations and development timelines and plans, including the resulting impact on our expenditures and capital needs, remains uncertain and MoonLake may experience disruptions.

Prepaid expenses

Prepaid expenses	6 Months Ended
	Jun. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid expenses	Prepaid Expenses June 30, 2022 December 31, 2021 Advances on insurances $ 2,714,439 $ 23,141 Advances on non-clinical research and clinical development services 2,236,442 547,586 Advances on supply and manufacturing services 83,559 750,622 Other prepayments 78,262 127,747 Total $ 5,112,702 $ 1,449,096 Prepaid expenses as of June 30, 2022 primarily relate to services expected to be received by the end of the year.

Trade and other payables

Trade and other payables	6 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Trade and other payables	Trade and Other Payables June 30, 2022 December 31, 2021 Supply and manufacturing fees payable $ 401,991 $ 183,298 Legal and intellectual property (“IP”) advisory fees payable 246,750 1,233,070 Other consulting and advisory services 78,514 71,938 Research and development services 13,130 50,088 Other payables 50,676 30,896 Total $ 791,061 $ 1,569,290 June 30, 2022 December 31, 2021 Tax liabilities $ 1,559,202 $ 63,922 License fees 636,217 2,055,687 Bonuses and related employees compensation expenses 530,714 1,419,137 Consultant and other fees 277,540 49,211 Legal fees 62,278 930,354 Total $ 3,065,951 $ 4,518,311 Tax liabilities increased to $1.6 million primarily due to $1.3 million of stamp duty fees payable to the Swiss Authorities in connection with the capital increase following the Business Combination.

Accrued expenses and other curr

Accrued expenses and other current liabilities	6 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Accrued expenses and other current liabilities	Trade and Other Payables June 30, 2022 December 31, 2021 Supply and manufacturing fees payable $ 401,991 $ 183,298 Legal and intellectual property (“IP”) advisory fees payable 246,750 1,233,070 Other consulting and advisory services 78,514 71,938 Research and development services 13,130 50,088 Other payables 50,676 30,896 Total $ 791,061 $ 1,569,290 June 30, 2022 December 31, 2021 Tax liabilities $ 1,559,202 $ 63,922 License fees 636,217 2,055,687 Bonuses and related employees compensation expenses 530,714 1,419,137 Consultant and other fees 277,540 49,211 Legal fees 62,278 930,354 Total $ 3,065,951 $ 4,518,311 Tax liabilities increased to $1.6 million primarily due to $1.3 million of stamp duty fees payable to the Swiss Authorities in connection with the capital increase following the Business Combination.

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Employee benefit plans	Employee Benefit Plans The Company operates a defined benefit pension plan in Switzerland (“the Plan”) and a defined contribution pension plan in the United Kingdom, in accordance with local regulations and practices. As of June 30, 2022 the Plan covers the Company’s employees in Switzerland with benefits in the event of death, disability, retirement, or termination of employment. Components of Net Periodic Benefit Cost under the Plan Three months ended June 30, 2022 Three months ended June 30, 2021 Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 Service cost $ 109,607 $ 11,423 $ 225,965 $ 11,423 Interest cost 1,229 — 2,533 — Expected return on plan assets (3,771) — (7,775) — Amortization of Unrecognized Loss 442 — 910 — Total Net Periodic Benefit Cost $ 107,507 $ 11,423 $ 221,633 $ 11,423 The components of net periodic benefit cost other than the service cost component are included in general and administrative expense in the Company's unaudited condensed consolidated statements of operations. Employer Contributions under the Plan For the six-months ended June 30, 2022, $70,137 (CHF 66,197) of contributions was made to the Plan. The Company presently anticipates contributing an additional estimated amount of $66,426 (CHF 64,046) to fund the Plan in 2022 for a total of $136,563 (CHF 130,243).

Shareholders_ Equity (Deficit)

Shareholders’ Equity (Deficit)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Shareholders’ Equity (Deficit)	Shareholders’ Equity (Deficit) As a result of the Business Combination, the Company has retroactively restated the share numbers prior to April 5, 2022 to give effect to the Exchange Ratio. Series A Preferred Shares (1) Common Shares (1) Common Shares Held In Treasury (2) Class A Ordinary Shares (3) Class C Ordinary Shares (3) Total Number of Shares Authorized Issued Authorized Issued Issued Authorized Issued Authorized Issued Authorized Issued and Outstanding Balance - December 31, 2021 22,880,908 22,880,908 13,119,092 12,161,331 (1,942,837) — — — — 36,000,000 33,099,402 Share-based payment under the equity incentive plan ESPP — — — — 1,177,354 — — — — — 1,177,354 Balance - March 31, 2022 22,880,908 22,880,908 13,119,092 12,161,331 (765,483) — — — — 36,000,000 34,276,756 Issuance of Class A Ordinary Shares upon Business Combination — — — — — 500,000,000 18,424,355 100,000,000 — 600,000,000 18,424,355 Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (22,880,908) (22,880,908) (13,119,092) (12,161,331) 765,483 — 18,501,284 — 15,775,472 (36,000,000) — Balance - June 30, 2022 — — — — — 500,000,000 36,925,639 100,000,000 15,775,472 600,000,000 52,701,111 (1) Fully paid-in registered shares with a par value of CHF 0.10 (2) Registered shares with a par value of CHF 0.10 held in treasury (3) Fully paid-in registered shares with a par value of $0.0001 As of June 30, 2022, the Company had the following classes of shares: Class A Ordinary Shares On April 6, 2021, the Company's Class A Ordinary Shares began trading on the Nasdaq Stock Market under the symbol “MLTX”. As of June 30, 2022, there were 36,925,639 Class A Ordinary Shares issued or outstanding. The Company is authorized to issue up to 500,000,000 Class A Ordinary Shares, par value $0.0001 per share. Holders of Class A Ordinary Shares are entitled to one vote for each share. Class C Ordinary Shares On the Closing Date, the Company issued 15,775,472 Class C Ordinary Shares to the ML Parties (other than the BVF Shareholders) in an amount equivalent to the ML Parties (other than the BVF Shareholders) 468,968 MoonLake AG Common Shares multiplied by the Exchange Ratio. As of June 30, 2022, there were 15,775,472 Class C Ordinary Shares issued and outstanding. The Company is authorized to issue up to 100,000,000 Class C Ordinary Shares, with a par value $0.0001 per share. Each Class C Ordinary Share entitles the holders thereof to one vote per share, but carries no economic rights. At the Closing, MoonLake, MoonLake AG and each ML Party entered into a Restated and Amended Shareholders' Agreement (the “A&R Shareholders' Agreement”). With the intent to approximate the rights, obligations and restrictions that an ML Party would enjoy if it were a holder of Class A Ordinary Shares, the A&R Shareholders’ Agreement (i) imposes certain transfer and other restrictions on the ML Parties, (ii) provides for the waiver of certain statutory rights and (iii) establishes certain mechanics whereby MoonLake and each of the ML Parties are able to effect the conversion of MoonLake AG Common Shares and Class C Ordinary Shares into a number of Class A Ordinary Shares equal to the Exchange Ratio. The foregoing description of the A&R Shareholders’ Agreement is not complete and is qualified in its entirety by reference to the full text of the A&R Shareholders’ Agreement.

Net loss per share

Net loss per share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Net loss per share	Net Loss per Share As a result of the Business Combination, the Company has retroactively restated the weighted average number of outstanding prior to April 5, 2022 to give effect to the Exchange Ratio. The following table sets forth the loss per share calculations for the three and six months ended June 30, 2022 compared to the three and six months ended June 30, 2021: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Numerator Net loss attributable to controlling interests shareholders $ (12,120,719) $ (32,685,779) $ (22,754,974) $ (33,037,452) Denominator Total weighted average number of outstanding shares 35,201,713 11,278,991 20,191,072 15,632,208 Net loss per share – basic and diluted $ (0.34) $ (2.90) $ (1.13) $ (2.11) The weighted average number of shares used to calculate the net loss per share – basic for the three months and the six months ended June 30, 2022 excludes 15,775,472 Class C Ordinary Shares as they do not carry economic rights. In the event that ML Parties (other than the BVF Shareholders) elected to convert their 468,968 MoonLake AG Common Shares into 15,775,472 Class A Ordinary Shares on the Closing Date, the weighted average number of shares outstanding would have been 50,110,401 and 27,686,600 for the three and six months ended June 30, 2022, resulting in a respective net loss per share of $(0.35) and $(1.20). Upon conversion, 15,775,472 Class C Ordinary Shares would be forfeited and there would no longer be any noncontrolling interests.

Share-based Compensation

Share-based Compensation	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Share-based Compensation	Share-based Compensation As at June 30, 2022 the Company had the following share-based compensation arrangements: a. Restricted Founder Shares – created in April 2021 by MoonLake AG; b. The Employee Share Participation Plan (“ESPP”) – created in July 2021 by MoonLake AG; c. The Employee Stock Option Plan (“ESOP”) – created in July 2021 by MoonLake AG; d. MoonLake Immunotherapeutics 2022 Equity Incentive Plan – created in April 2022 by MoonLake Immunotherapeutics. The purpose of the arrangements is to attract and retain the best available personnel and to provide participants with additional incentive to increase their efforts on behalf and in the best interest of the Company and its subsidiaries. As a result of the Business Combination, the Company has adjusted the share numbers related to the Restricted Founder Shares and Common Shares (under the MoonLake AG ESPP and MoonLake AG ESOP plans) prior to the Business Combination by the Exchange Ratio. The assumptions used in the valuation of the awards granted prior to Closing of the Business Combination have not been adjusted. The reference to “Common Shares” below refers to shares in MoonLake AG. MoonLake AG's compensation plans are settled with MoonLake AG's Common Shares, and with a number of Class C Ordinary Shares determined multiplying the MoonLake AG's Common Shares by the Exchange Ratio. The owners of MoonLake AG's Common Shares have the right to exchange their Common Shares for a number of the Company’s Class A Ordinary Shares derived using the Exchange Ratio. In the event MoonLake AG shareholders elect to exchange their Common Shares, a number of Class C shares equivalent to the number of Class A shares issued is forfeited (refer Note 9 — Shareholders’ equity (deficit) - Class C Ordinary Shares ). For the three and six months ended June 30, 2022, the Company has recognized an increase in equity in the condensed consolidated balance sheet, and share-based compensation expense in the condensed consolidated statement of operations of $2.5 and $4.5 million respectively. The share-based compensation expense was driven by the following share-based compensation plans and programs: Compensation Plan Three months ended June 30, 2022 Three months ended June 30, 2021 Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 MoonLake AG Restricted Founder Shares $ 1,197,953 $ 1,250,365 $ 2,408,035 $ 1,250,365 MoonLake AG ESPP 1,056,516 — 1,749,194 — MoonLake AG ESOP 114,615 — 200,726 — MoonLake Immunotherapeutics 2022 Equity Incentive Plan 115,139 — 115,139 — Total share-based compensation expense 4 $ 2,484,223 $ 1,250,365 $ 4,473,094 $ 1,250,365 Of which: included in R&D expense 138,037 — 218,930 — Of which: included in G&A expense 2,346,186 1,250,365 4,254,164 1,250,365 As of June 30, 2022, 22,756 treasury shares (the equivalent of 765,482 Class C Ordinary Shares) and 14,596 Common Shares (the equivalent of 490,990 Class C Ordinary Shares) issuable from the authorized conditional capital shares remain available for future grants under the ESPP and the ESOP by MoonLake AG. MoonLake AG - Restricted Founder Shares On April 28, 2021, the shareholders’ agreement between the co-founders, the Series A investors and MoonLake AG imposed a reverse vesting condition on 90% of the total 110,000 Common Shares (the equivalent of 3,700,257 Class C Ordinary Shares) held by each of the three co-founders. Therefore, 99,000 Common Shares (the equivalent of 3,330,231 Class C Ordinary Shares) held by each of the co-founders were subject to these restrictions and considered unvested. The Restricted Founder Shares vest on the 28th of each month at a rate of 4.166% over a period of two years until April 28, 2023. If, before the end of the vesting period, the contractual relationship of the relevant co-founders is terminated, MoonLake AG in first priority, or any third party designated by it, and the other shareholders in second priority pro rata to their shareholdings, shall have an option to purchase all or a pro rata portion of the leaver shares that are unvested on the day the termination becomes effective at nominal value of CHF 0.10 (equivalent of $0.0001) per share. The assumptions used in the valuation of the Restricted Founder Shares awarded are summarized below: Grant date 4/28/2021 Estimated fair value per share of Restricted Founder Shares on the grant date ($) (1) 49 Estimated fair value of Restricted Founder Shares on the resignation date of one of the co-founders of MoonLake AG ($) (2) 336.39 Purchase price (CHF) 0.10 (1) MoonLake AG estimated the fair value of the Restricted Founder Shares with reference to the market-based transaction with the other Series A Preferred Shares Investors (refer to Note 9 of the audited consolidated financial statements for the year ended December 31, 2021). (2) MoonLake AG estimated the fair value of the Restricted Founder Shares at co-founder’s resignation date by dividing the Company Enterprise Value ($360,000,000) as defined by the Business Combination Agreement by the Company’s fully diluted shares (1,070,196). Grants awarded Program Restricted Founder Shares Awards outstanding at January 1, 2022 4,440,308 Awards vested for the six months ended June 30, 2022 (1,665,116) Awards outstanding at June 30, 2022 2,775,192 As of June 30, 2022, MoonLake AG had $4.0 million of total unrecognized compensation expense related to the Restricted Founder Shares that will be recognized by April 28, 2023 with a monthly compensation expense of $403,386. Employee Share Participation Plan (ESPP) 2021-2025 - MoonLake AG The ESPP grants will vest 25% on each anniversary of the grant date. In the event of a termination of contractual relationship between the Company and the entitled employee, the awards can be deemed forfeited by MoonLake AG if certain conditions are met. Awards feature an accelerated vesting condition linked to a “Change of Control”, defined as any transfer of shares that results in the proposed acquirer holding more than 50% of the then issued share capital of MoonLake AG or the Company, as the case may be, where the grants will be deemed fully vested on the earlier of (i) 12 months (or such shorter period determined by the Board of Directors) after the occurrence of a “change of control” or (ii) the date after the occurrence of the change of control on which a termination notice is served to the participant by MoonLake AG (other than a bad leaver termination, described below) or by the participant for good cause (as defined under Swiss law or any other applicable foreign law). For awards made after September 30, 2021, the Closing of the Business Combination between MoonLake AG and Helix does not qualify as a Change of Control. The assumptions used in the valuation of the grants awarded under the ESPP for the six months ended June 30, 2022 are summarized below: ESPP 2021 Assumptions for the awards issued during the six months ended June 30, 2022 Grant dates 01/18/2022 Estimated fair value per share of Common Shares on the grant date ($) (1) 336.39 Purchase price (CHF) 0.10 (1) MoonLake AG estimated the fair value of the Common Shares by dividing the Company Enterprise Value ($360,000,000) as defined by the Business Combination Agreement by the Company’s fully diluted shares (1,070,196). Grants awarded Program ESPP Awards outstanding at January 1, 2022 1,060,561 Awards granted for the six months ended June 30, 2022 1,177,354 Awards outstanding at June 30, 2022 2,237,915 As of June 30, 2022, MoonLake AG had $11.7 million of total unrecognized compensation expense related to the ESPP that will be recognized over the weighted average period of 2.27 years. Employee Stock Option Plan (ESOP) 2021-2025 - MoonLake AG The ESOP grants will vest 25% on each anniversary of the grant date. In the event of a termination of contractual relationship between the Company and the entitled employee, options can be deemed forfeited by MoonLake AG if certain conditions are met. Awards feature an accelerated vesting condition linked to a “Change of Control”, defined as any transfer of shares that results in the proposed acquirer holding more than 50% of the then issued share capital of MoonLake AG or the Company, as the case may be, where the grants will be deemed fully vested on the earlier of (i) 12 months (or such shorter period determined by the Board of Directors) after the occurrence of a “change of control” or (ii) the date after the occurrence of the change of control on which a termination notice is served to the participant by MoonLake AG (other than a bad leaver termination, described below) or by the participant for good cause (as defined under Swiss law or any other applicable foreign law). For awards made after September 30, 2021, the Closing of the Business Combination between MoonLake AG and Helix does not qualify as a Change of Control. Weighted average assumptions for the awards issued during the six months ended June 30, 2022 Grant dates 5/1/2022, 6/22/2022 Estimated fair value of the option on the grant date using Black-Scholes model ($) (1) 172.57 Exercise price (CHF) 27.25 Expected term of the award on the grant date (years) (2) 6 Expected volatility of the share price (3) 0.75 Risk-free interest rate (4) 3% Expected dividend rate 0 (1) MoonLake AG estimated the fair value of the Common Shares multiplying the MoonLake Immunotherapeutics closing date trading share price on the grant date by the Exchange Ratio. (2) The expected term represents the period that share-based awards are expected to be outstanding. (3) The expected volatility was derived from the historical stock volatilities of comparable peer public companies within the Company’s industry. (4) 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. Grants awarded Program ESOP Awards outstanding at January 1, 2022 224,033 Awards granted for the six months ended June 30, 2022 242,737 Awards outstanding at June 30, 2022 466,770 Awards exercisable at June 30, 2022 — MoonLake Immunotherapeutics 2022 Equity Incentive Plan On April 5, 2022 (the “Effective Date”) the Company created the “MoonLake Immunotherapeutics 2022 Equity Incentive Plan” (the “Equity Incentive Plan”) to promote and closely align the interests of employees, officers, non-employee directors and other service providers of MoonLake Immunotherapeutics and its shareholders by providing share-based compensation and other performance-based compensation. The Equity Incentive Plan provides for the grant of options, stock appreciation rights, restricted stock units, restricted stock and other share-based awards and for incentive bonuses, which may be paid in cash, Common Shares or a combination thereof, as determined by the compensation committee of the board of directors or such other committee as designated by the board of directors to administer the Equity Incentive Plan. The Equity Incentive Plan shall remain available for the grant of awards until the 10th anniversary of the Effective Date. On April 6, 2022, the Company granted 180,000 options under the Equity Incentive Plan, each option representing the right to acquire one Class A Ordinary Share, par value $0.0001 per share, of MoonLake. The options will vest one-third on each April 6, 2023, April 6, 2024 and April 6, 2025. Grant date 4/6/2022 Estimated fair value of the option on the grant date using Black-Scholes model ($) 8.25 Exercise price ($) 12.25 Expected term of the award on the grant date (years) 6 Expected volatility of the share price 75% Risk-free interest rate 3% Expected dividend rate - Grants awarded Program MoonLake Immunotherapeutics 2022 Equity Incentive Plan Awards outstanding at January 1, 2022 — Awards granted for the six months ended June 30, 2022 180,000 Awards outstanding at June 30, 2022 180,000 Awards exercisable at June 30, 2022 —

Income taxes

Income taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income taxes	Income TaxesThe Company's effective tax rate (“ETR”) was 0.1% and 0.0% for each of the three and six months ended June 30, 2022, respectively, and 0.0% for each of the three and six months ended June 30, 2021. The Company is not aware of any items that would cause the quarterly or period-to-date ETR to be significantly different from the Company's annual ETR. The difference between the income tax provision that would be derived by applying the statutory rate to the Company's loss before income taxes and the income tax provision recorded was primarily attributable to the change in the valuation allowance. The Company continues to incur losses and its ability to utilize the deferred tax asset related to the tax losses is not considered more likely than not.

Commitment and Contingencies

Commitment and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitment and Contingencies	Commitments and Contingencies Commitments The Company has entered into agreements as of June 30, 2022 primarily in regard to advancement of clinical and non-clinical research program expenses, production of drug substance and technology transfer of the drug product process for SLK. As of June 30, 2022, the total committed amount under these agreements not yet recognized in the unaudited condensed consolidated financial statements amounted to $44.8 million. Further, in April 2021, MoonLake AG acquired the SLK program, which includes contractual milestone payments related to the achievement of pre-specified research, development, regulatory and commercialization events and indemnification provisions, which are common in such agreements. Pursuant to the agreements, the Company is obligated to make research and development and regulatory milestone payments upon the occurrence of certain events and royalty payments based on net sales. Subject to the terms of the license, additional milestone payments of up to €302.1 million ($315.3 million using a June 30, 2022 exchange rate) are potentially payable, of which less than 1 percent being due upon initiation of the next clinical trial and the remainder being due upon satisfying specific milestones related to regulatory filing acceptance, first commercial sales, and aggregate annual net sales. The milestone payments are payable in cash. Milestone payments due prior to obtaining regulatory approval will be recorded as research and development expense upon determination that a milestone payment is probable to occur. Milestone payments due after obtaining regulatory approval will be capitalized when and if incurred. The Company will use commercially reasonable efforts to cause the milestones to occur. However, if the Company reasonably determines that a technical failure or commercial failure has occurred with respect to all or a part of the SLK Program, the Company, at its sole discretion, can terminate all or part of the SLK Program. In addition, the In-licensing Agreement requires the Company to pay royalties within the range of low to mid-teen percent of net sales. Royalties will be recognized in the consolidated statement of operations when net sales are recognized.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of presentation	The accompanying unaudited condensed consolidated financial statements include those of the Company and its subsidiaries, MoonLake AG and MoonLake Immunotherapeutics Ltd., after elimination of all intercompany accounts and transactions. The accompanying unaudited condensed consolidated financial statements and notes hereto have been prepared in conformity with the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial reporting and, therefore, omit or condense certain footnotes and other information normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as set forth by the Financial Accounting Standards Board (“FASB”). Any reference in these notes to applicable guidance is meant to refer to the authoritative U.S. GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASU”) of the FASB. In the opinion of management, all adjustments necessary for a fair statement of the financial information, which are of a normal and recurring nature, have been made for the interim periods reported. Results of operations for the three and six months ended June 30, 2022 and 2021 are not necessarily indicative of the results for the entire fiscal year or any other period. The unaudited condensed consolidated financial information for the three and six months ended June 30, 2022 and 2021 have been prepared on the same basis as and should be read in conjunction with MoonLake AG’s audited financial statements and notes thereto for the year ended December 31, 2021 included in the final prospectus filed with the SEC pursuant to Rule 424(b)(3) on August 2, 2022. Pursuant to ASC 805, for financial accounting and reporting purposes, MoonLake AG was deemed the accounting acquirer and Helix was treated as the accounting acquiree, and the Business Combination was accounted for as a reverse recapitalization. Accordingly, the Business Combination was treated as the equivalent of MoonLake AG issuing shares for the net assets of Helix, accompanied by a recapitalization. The net assets of Helix were stated at historical costs, with no goodwill or other intangible assets recorded, and are consolidated with MoonLake AG’s financial statements on the Closing Date. In accordance with the Business Combination Agreement, the ML Parties received 33.638698 Ordinary Shares in the Company for every MoonLake AG Common Share or Series A Preferred Share (the “Exchange Ratio”). The BVF Shareholders received 18,501,284 Class A Ordinary Shares whereas the rest of the ML Parties (excluding the BVF Shareholders) received 15,775,472 Class C Ordinary Shares which can be converted into Class A Ordinary Shares at the discretion of the shareholder (refer to Note 9 — Shareholders’ equity (deficit) for further details on the classes of ordinary shares). The number of shares, and the number of shares within the net income (loss) per share held by the ML Parties in MoonLake AG prior to the Business Combination have been adjusted by the Exchange Ratio to reflect the equivalent number of ordinary shares in the Company (identified as “the equivalent of” throughout these condensed consolidated financial statements). Certain MoonLake AG shareholders (ML Parties other than the BVF Shareholders), did not exchange their shares in MoonLake AG for Class A Ordinary Shares in the Company and therefore continue to hold an economic interest in MoonLake AG and Class C Ordinary Shares in the Company. The Company recognized a noncontrolling interest equal to the ML Parties’ (other than the BVF Shareholders) proportionate interest in the net assets of MoonLake AG. All amounts are presented in U.S. Dollar (“$”), unless otherwise indicated. The term “Swiss franc” and “CHF” refer to the legal currency of Switzerland, and “€” refers to euros.
Use of estimates	The preparation of financial statements in conformity with U.S. GAAP requires the Company to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of expenses. The significant judgments, estimates and assumptions relevant to the Company relate to: • determining whether the in-process research and development expenditure (“IPR&D”) has an alternative future use; • estimating the fair value of the portion of the aggregate purchase price relating to its own shares in connection with the acquisition of the in-license agreement; • determining assumptions used in determining the fair value of share-based compensation; and • estimating the recoverability of the deferred tax asset. The Company bases its judgments and estimates on various factors and information, which may include, but are not limited to, the Company’s forecasts and future plans, current economic conditions and observable market-based transactions of its own shares, the results of which form the basis for making judgments about the carrying value of assets and liabilities and recorded amounts of expenses that are not readily apparent from other sources. To the extent there are material differences between the Company’s estimates and the actual results, the Company’s future results of operation may be affected.
Cash and cash equivalents	The Company considers all highly liquid investments with an original maturity of three months or less at the date of purchase to be cash equivalents. Cash and cash equivalents are recorded at cost, which approximates fair value.
Concentration of credit risk	Financial instruments that potentially subject the Company to concentration of credit risk consist of cash accounts in a large financial institution which, at times, may exceed the CHF 100,000 deposit protection limit. The Company believes it is not exposed to significant credit risk due to the financial strength of the depository institutions in which the cash and cash equivalents are held.
Fair value measurements	The Company follows the guidance included in ASC 820, Fair Value Measurement . Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. There are three levels of inputs to fair value measurements: • Level 1, meaning the use of quoted prices for identical instruments in active markets; • Level 2, meaning the use of quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active or are directly or indirectly observable; and • Level 3, meaning the use of unobservable inputs. Observable market data is used when available. Transfers between Levels 1, 2 or 3 within the fair value hierarchy are recognized at the end of the reporting period when the respective transaction occurred.
Segment information	The Company operates as a single operating segment. The Company’s chief operating decision maker, its Chief Executive Officer, manages the Company’s operations on a stand-alone basis for the purposes of allocating resources, and assessing financial performance.
Property and equipment	Property and equipment, net is stated at cost, net of accumulated depreciation. Depreciation is computed using the straight-line method based on the estimated useful lives of three
Research and development contract costs and accruals	Research and development expenses include employee payroll, consulting, contract research and contract manufacturing costs attributable to research and development activities and are expensed as incurred. Upfront payments and milestone payments made for the licensing of technology are expensed as research and development expenses in the period in which they are incurred. Nonrefundable advance payments for goods or services to be received in the future for use in research and development activities are recorded as prepaid expenses. The prepaid amounts are expensed as the related goods are delivered or the services are performed. The Company has entered into various research and development contracts with companies both inside and outside of the United States. These agreements are generally cancelable, and related payments are recorded as research and development expenses as incurred. The Company records accruals for estimated ongoing research costs. When evaluating the adequacy of the accrued liabilities, the Company analyzes progress of the studies or trials, including the phase or completion of events, invoices received and contracted costs. Significant judgments and estimates are made in determining the accrued balances at the end of any reporting period. Actual results could differ from the Company’s estimates. The Company’s historical accrual estimates have not been materially different from the actual costs.
Share-based transaction	Goods or services received in a share-based payment transaction are measured using a fair value-based measure. The Company measures and recognizes compensation expense for all share-based awards made to employees and directors based on estimated fair values. The fair value of employee share options is estimated on the date of grant using the Black-Scholes option pricing model. Share-based compensation expense is adjusted for forfeitures as they occur.
Foreign currency	The functional currency of the Company and its subsidiaries is the U.S. dollar. Balances and transactions denominated in foreign currencies are converted as follows: monetary assets and liabilities are translated using exchange rates in effect at the balance sheet dates and non-monetary assets and liabilities are translated at historical exchange rates. Revenue and expenses are translated at the daily exchange rate on the respective accounting date.Gains or losses from foreign currency translation are included in the consolidated statement of operations.
Income taxes	The Company accounts for income taxes by using the asset and liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. A valuation allowance is recorded to the extent it is more likely than not that a deferred tax asset will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date.
Net loss per Class A Ordinary Shares	Basic net loss per Class A Ordinary Share is calculated using the two-class method under which earnings are allocated to both Class A Ordinary Shares and participating securities. Basic net loss per share is calculated by dividing the net loss attributable to Class A Ordinary Shares by the weighted-average number of Class A Ordinary Shares outstanding for the period. The diluted net loss per Class A Ordinary Share is computed by dividing the net loss using the weighted-average number of Class A Ordinary Shares and, if dilutive, potential Class A Ordinary Shares outstanding during the period.In periods in which the Company reports a net loss attributable to shareholders of Class A Ordinary Shares, diluted net loss per share attributable to shareholders of Class A Ordinary Shares is the same as basic net loss per share attributable to shareholders of Class A Ordinary Shares, since dilutive Class A Ordinary Shares are not assumed to be outstanding if their effect is anti-dilutive.
Acquisitions	The Company evaluates acquisitions of assets and other similar transactions to assess whether or not the transaction should be accounted for as a business combination or asset acquisition by first assessing whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. The Company acquired the Sonelokimab program (the "SLK Program") during the period ended December 31, 2021 and determined that substantially all of the fair value of the gross assets acquired related to IPR&D of SLK. Therefore, this transaction was accounted for as an asset acquisition. IPR&D represents incomplete technologies that the Company acquires, which at the time of acquisition, are still under development and have no alternative future use. The fair value of such technologies is expensed upon acquisition. A technology is considered to have an alternative future use if it is probable that the Company will use the asset in its current, incomplete state as it existed at the acquisition date, in another research and development project that has not yet commenced, and economic benefit is anticipated from that use. If a technology is determined to have an alternative future use, then the fair value of the program would be recorded as an asset on the balance sheet rather than expensed. Contingent consideration payments (for example milestone payments due upon the occurrence of a specific event) in asset acquisitions are recognized when the consideration is paid or becomes payable (unless the contingent consideration meets the definition of a derivative, in which case the amount becomes part of the cost in the asset acquired). Upon recognition of the contingent consideration payment, the amount is expensed if it relates to IPR&D or capitalized if it relates to a developed product which is generally considered to be when clinical trials have been completed and regulatory approval obtained. Future royalty payments due on net sales will be recognized in cost of goods sold when net sales are recognized.
Pension accounting	The Company accounts for pension assets and liabilities in accordance with ASC 715, Compensation – Retirement Benefits , which requires the recognition of the funded status of pension plans in the Company’s consolidated balance sheet. The liability in respect to defined benefit pension plans is the projected benefit obligation calculated annually by independent actuaries using the projected unit credit method. The projected benefit obligation as of June 30, 2022 represents the actuarial present value of the estimated future payments required to settle the obligation that is attributable to employee services rendered before that date. Service costs for such pension plans, represented in the net periodic benefit cost, are included in the personnel expenses of the various functions where the employees are engaged. The other components of net benefit cost are included in the consolidated statement of operations separately from the service cost component, in “other income (expenses), net.” Plan assets are recorded at their fair value.
Recently issued accounting pronouncements not yet adopted	The Company is an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012 (“JOBS Act”). As such the Company is eligible for exemptions from various reporting requirements applicable to other public companies that are not emerging growth companies, including reduced reporting and extended transition periods to comply with new or revised accounting standards for public business entities. The Company has elected to avail itself of this exemption and, therefore, will not be subject to the timeline for adopting new or revised accounting standards for public business entities that are not emerging growth companies, and will follow the transition guidance applicable to private companies. In February 2016, the FASB issued ASU No. 2016-02, Leases Topic 842 (“ASU 2016-02”) . The guidance in ASU 2016-02 supersedes the lease recognition requirements in ASC 840, Leases . ASU 2016-02 requires an entity to recognize assets and liabilities arising from a lease for both financing and operating leases, along with additional qualitative and quantitative disclosures. ASU 2016-02 is effective for fiscal years beginning after December 15, 2021, and for interim periods within fiscal years beginning after December 15, 2022, with early adoption permitted. The Company has continued to account for the open-ended office lease agreement as an operating lease under the guidance prior to ASU 2016-02 through the consolidated statement of operations for the period ended December 31, 2021. In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842): Targeted Improvements , which allows entities to elect a modified retrospective transition method where entities may continue to apply the existing lease guidance during the comparative periods and apply the new lease requirements through a cumulative effect adjustment in the period of adoptions rather than in the earliest period presented.

Business Combination Agreemen_2

Business Combination Agreement with Helix and Recapitalization (Tables)	6 Months Ended
	Jun. 30, 2022
Reverse Recapitalization [Abstract]
Summary of Net Proceeds and Ordinary Shares Issued	The following table summarizes the elements of the net proceeds from the Business Combination: in thousands Investments held in Trust Account $ 115,051 Less cash to cover redemptions of the Class A Ordinary Shares issued by Helix prior to the Closing Date (80,842) Plus PIPE investment 116,000 Less Helix transaction expense (15,520) of which accrued expenses (5,798) of which deferred IPO underwriting fee (4,025) of which other transaction expenses (5,697) Available Closing Date Cash $ 134,689 The following table summarizes the number of Ordinary Shares outstanding immediately following the consummation of the Business Combination: Helix Acquisition Corp. Ordinary Shares prior to the Business Combination 14,805,000 Of which Class A Ordinary Shares (Helix management - IPO private placement shares) 430,000 Of which Class A Ordinary Shares redeemable 11,500,000 Of which Class B Ordinary Shares (Helix management - sponsor promote) 2,875,000 Less redemptions of the Class A Ordinary Shares issued by Helix prior to the Closing Date (8,080,645) Plus issuance of Helix Class A Ordinary Shares to PIPE Investors 11,700,000 Plus issuance of Helix Class A Ordinary Shares to BVF Shareholders 18,501,284 Total MoonLake Class A Ordinary Shares Outstanding at Closing 36,925,639 Plus issuance of Helix Class C Ordinary Shares to ML Parties (other than the BVF Shareholders) 15,775,472 Total MoonLake Class A and Class C Ordinary Shares Outstanding at Closing 52,701,111

Prepaid expenses (Tables)

Prepaid expenses (Tables)	6 Months Ended
	Jun. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Prepaid expenses	June 30, 2022 December 31, 2021 Advances on insurances $ 2,714,439 $ 23,141 Advances on non-clinical research and clinical development services 2,236,442 547,586 Advances on supply and manufacturing services 83,559 750,622 Other prepayments 78,262 127,747 Total $ 5,112,702 $ 1,449,096

Trade and other payables (Table

Trade and other payables (Tables)	6 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Trade and other payables, current	June 30, 2022 December 31, 2021 Supply and manufacturing fees payable $ 401,991 $ 183,298 Legal and intellectual property (“IP”) advisory fees payable 246,750 1,233,070 Other consulting and advisory services 78,514 71,938 Research and development services 13,130 50,088 Other payables 50,676 30,896 Total $ 791,061 $ 1,569,290

Accrued expenses and other cu_2

Accrued expenses and other current liabilities (Tables)	6 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Schedule of accrued expenses and other current liabilities	June 30, 2022 December 31, 2021 Tax liabilities $ 1,559,202 $ 63,922 License fees 636,217 2,055,687 Bonuses and related employees compensation expenses 530,714 1,419,137 Consultant and other fees 277,540 49,211 Legal fees 62,278 930,354 Total $ 3,065,951 $ 4,518,311

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost under the Plan	Three months ended June 30, 2022 Three months ended June 30, 2021 Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 Service cost $ 109,607 $ 11,423 $ 225,965 $ 11,423 Interest cost 1,229 — 2,533 — Expected return on plan assets (3,771) — (7,775) — Amortization of Unrecognized Loss 442 — 910 — Total Net Periodic Benefit Cost $ 107,507 $ 11,423 $ 221,633 $ 11,423

Shareholders_ Equity (Deficit)

Shareholders’ Equity (Deficit) (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Schedule of Stock Authorized and Issued	As a result of the Business Combination, the Company has retroactively restated the share numbers prior to April 5, 2022 to give effect to the Exchange Ratio. Series A Preferred Shares (1) Common Shares (1) Common Shares Held In Treasury (2) Class A Ordinary Shares (3) Class C Ordinary Shares (3) Total Number of Shares Authorized Issued Authorized Issued Issued Authorized Issued Authorized Issued Authorized Issued and Outstanding Balance - December 31, 2021 22,880,908 22,880,908 13,119,092 12,161,331 (1,942,837) — — — — 36,000,000 33,099,402 Share-based payment under the equity incentive plan ESPP — — — — 1,177,354 — — — — — 1,177,354 Balance - March 31, 2022 22,880,908 22,880,908 13,119,092 12,161,331 (765,483) — — — — 36,000,000 34,276,756 Issuance of Class A Ordinary Shares upon Business Combination — — — — — 500,000,000 18,424,355 100,000,000 — 600,000,000 18,424,355 Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (22,880,908) (22,880,908) (13,119,092) (12,161,331) 765,483 — 18,501,284 — 15,775,472 (36,000,000) — Balance - June 30, 2022 — — — — — 500,000,000 36,925,639 100,000,000 15,775,472 600,000,000 52,701,111 (1) Fully paid-in registered shares with a par value of CHF 0.10 (2) Registered shares with a par value of CHF 0.10 held in treasury (3)

Net loss per share (Tables)

Net loss per share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the loss per share calculations for the three and six months ended June 30, 2022 compared to the three and six months ended June 30, 2021: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Numerator Net loss attributable to controlling interests shareholders $ (12,120,719) $ (32,685,779) $ (22,754,974) $ (33,037,452) Denominator Total weighted average number of outstanding shares 35,201,713 11,278,991 20,191,072 15,632,208 Net loss per share – basic and diluted $ (0.34) $ (2.90) $ (1.13) $ (2.11)

Share-based Compensation (Table

Share-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount	The share-based compensation expense was driven by the following share-based compensation plans and programs: Compensation Plan Three months ended June 30, 2022 Three months ended June 30, 2021 Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 MoonLake AG Restricted Founder Shares $ 1,197,953 $ 1,250,365 $ 2,408,035 $ 1,250,365 MoonLake AG ESPP 1,056,516 — 1,749,194 — MoonLake AG ESOP 114,615 — 200,726 — MoonLake Immunotherapeutics 2022 Equity Incentive Plan 115,139 — 115,139 — Total share-based compensation expense 4 $ 2,484,223 $ 1,250,365 $ 4,473,094 $ 1,250,365 Of which: included in R&D expense 138,037 — 218,930 — Of which: included in G&A expense 2,346,186 1,250,365 4,254,164 1,250,365
Schedule of Share-Based Payment Award, Non-Option Equity Instruments, Valuation Assumptions	The assumptions used in the valuation of the Restricted Founder Shares awarded are summarized below: Grant date 4/28/2021 Estimated fair value per share of Restricted Founder Shares on the grant date ($) (1) 49 Estimated fair value of Restricted Founder Shares on the resignation date of one of the co-founders of MoonLake AG ($) (2) 336.39 Purchase price (CHF) 0.10 (1) MoonLake AG estimated the fair value of the Restricted Founder Shares with reference to the market-based transaction with the other Series A Preferred Shares Investors (refer to Note 9 of the audited consolidated financial statements for the year ended December 31, 2021). (2) MoonLake AG estimated the fair value of the Restricted Founder Shares at co-founder’s resignation date by dividing the Company Enterprise Value ($360,000,000) as defined by the Business Combination Agreement by the Company’s fully diluted shares (1,070,196).
Nonvested Restricted Stock Shares Activity	Grants awarded Program Restricted Founder Shares Awards outstanding at January 1, 2022 4,440,308 Awards vested for the six months ended June 30, 2022 (1,665,116) Awards outstanding at June 30, 2022 2,775,192
Schedule of Nonvested Share Activity	The assumptions used in the valuation of the grants awarded under the ESPP for the six months ended June 30, 2022 are summarized below: ESPP 2021 Assumptions for the awards issued during the six months ended June 30, 2022 Grant dates 01/18/2022 Estimated fair value per share of Common Shares on the grant date ($) (1) 336.39 Purchase price (CHF) 0.10 (1) MoonLake AG estimated the fair value of the Common Shares by dividing the Company Enterprise Value ($360,000,000) as defined by the Business Combination Agreement by the Company’s fully diluted shares (1,070,196). Grants awarded Program ESPP Awards outstanding at January 1, 2022 1,060,561 Awards granted for the six months ended June 30, 2022 1,177,354 Awards outstanding at June 30, 2022 2,237,915
Schedule of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions	The assumptions used in the valuation of the grants awarded under the ESPP for the six months ended June 30, 2022 are summarized below: ESPP 2021 Assumptions for the awards issued during the six months ended June 30, 2022 Grant dates 01/18/2022 Estimated fair value per share of Common Shares on the grant date ($) (1) 336.39 Purchase price (CHF) 0.10 (1) MoonLake AG estimated the fair value of the Common Shares by dividing the Company Enterprise Value ($360,000,000) as defined by the Business Combination Agreement by the Company’s fully diluted shares (1,070,196). Grants awarded Program ESPP Awards outstanding at January 1, 2022 1,060,561 Awards granted for the six months ended June 30, 2022 1,177,354 Awards outstanding at June 30, 2022 2,237,915
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions	Weighted average assumptions for the awards issued during the six months ended June 30, 2022 Grant dates 5/1/2022, 6/22/2022 Estimated fair value of the option on the grant date using Black-Scholes model ($) (1) 172.57 Exercise price (CHF) 27.25 Expected term of the award on the grant date (years) (2) 6 Expected volatility of the share price (3) 0.75 Risk-free interest rate (4) 3% Expected dividend rate 0 (1) MoonLake AG estimated the fair value of the Common Shares multiplying the MoonLake Immunotherapeutics closing date trading share price on the grant date by the Exchange Ratio. (2) The expected term represents the period that share-based awards are expected to be outstanding. (3) The expected volatility was derived from the historical stock volatilities of comparable peer public companies within the Company’s industry. (4) 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. Grant date 4/6/2022 Estimated fair value of the option on the grant date using Black-Scholes model ($) 8.25 Exercise price ($) 12.25 Expected term of the award on the grant date (years) 6 Expected volatility of the share price 75% Risk-free interest rate 3% Expected dividend rate -
Share-Based Payment Arrangement, Option, Activity	Grants awarded Program ESOP Awards outstanding at January 1, 2022 224,033 Awards granted for the six months ended June 30, 2022 242,737 Awards outstanding at June 30, 2022 466,770 Awards exercisable at June 30, 2022 — Grants awarded Program MoonLake Immunotherapeutics 2022 Equity Incentive Plan Awards outstanding at January 1, 2022 — Awards granted for the six months ended June 30, 2022 180,000 Awards outstanding at June 30, 2022 180,000 Awards exercisable at June 30, 2022 —

Business Combination Agreemen_3

Business Combination Agreement with Helix and Recapitalization - Narrative (Details)			3 Months Ended	6 Months Ended
	Apr. 05, 2022 USD ($) $ / shares shares	Oct. 04, 2021 USD ($) $ / shares shares	Jun. 30, 2022 $ / shares shares	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2021 USD ($)	[1]	Apr. 01, 2022 SFr / shares shares	Dec. 31, 2021 SFr / shares
Schedule Of Reverse Recapitalization [Line Items]
Reverse recapitalization, net | $	$ 134,689,000
Repayments of loan liability | $	$ 15,000,000			$ 15,000,000	$ 0
Issuance of Class A ordinary shares upon business combination (in shares)			18,424,355
PIPE Investors
Schedule Of Reverse Recapitalization [Line Items]
Sale of stock (in shares)		11,600,000
Issuance price per share (USD per share) | $ / shares		$ 10
Net proceeds from the business combination | $		$ 116,000,000
IPO Private Placement Shares
Schedule Of Reverse Recapitalization [Line Items]
Sale of stock (in shares)		100,000
Aggregate fees | $		$ 1,000,000
Series A Preferred Shares
Schedule Of Reverse Recapitalization [Line Items]
Preferred stock, par value (CHF per share) | SFr / shares							SFr 0.10	SFr 0.10
Class V Voting Stock
Schedule Of Reverse Recapitalization [Line Items]
Common Shares, shares authorized (in shares)							4,006,736
Common Shares, par value (USD per share) | SFr / shares							SFr 0.01
Common stock, votes per share multiplier							10
Class B Ordinary Shares
Schedule Of Reverse Recapitalization [Line Items]
Common Shares, par value (USD per share) | $ / shares	$ 0.0001
Conversion of Stock, Shares Converted	2,875,000
Common stock, conversion ratio (in shares)	1
Class A Ordinary Shares
Schedule Of Reverse Recapitalization [Line Items]
Common Shares, shares authorized (in shares)			500,000,000	500,000,000
Common Shares, par value (USD per share) | $ / shares			$ 0.0001	$ 0.0001
Issuance of Class A ordinary shares upon business combination (in shares)	18,501,284
Number of shares issued (in shares)	11,700,000
Sale of stock (in shares)		11,700,000
Class C Ordinary Shares
Schedule Of Reverse Recapitalization [Line Items]
Common Shares, shares authorized (in shares)			100,000,000	100,000,000
Common Shares, par value (USD per share) | $ / shares			$ 0.0001	$ 0.0001
Issuance of Helix Class C ordinary shares to ML parties (other than the BVF shareholders) (in shares)	15,775,472
Number of shares issued (in shares)	15,775,472
[1] 3 For additional details, refer to Note 3 - Basis of Presentation and Significant Accounting Policies - Restatement of Consolidated Financial Statements as of and for the three and six months ended June 30, 2021 .

Business Combination Agreemen_4

Business Combination Agreement with Helix and Recapitalization - Summary of Net Proceeds (Details) $ in Thousands	Apr. 05, 2022 USD ($)
Reverse Recapitalization [Abstract]
Investments held in Trust Account	$ 115,051
Less cash to cover redemptions of the Class A Ordinary Shares issued by Helix prior to the Closing Date	(80,842)
Plus PIPE investment	116,000
Less Helix transaction expense	(15,520)
of which accrued expenses	(5,798)
of which deferred IPO underwriting fee	(4,025)
of which other transaction expenses	(5,697)
Available Closing Date Cash	$ 134,689

Business Combination Agreemen_5

Business Combination Agreement with Helix and Recapitalization - Ordinary Shares Issued (Details) - shares			3 Months Ended
	Apr. 05, 2022	Apr. 04, 2022	Jun. 30, 2022
Schedule Of Reverse Recapitalization [Line Items]
Shares outstanding (in shares)	52,701,111
Plus issuance of Helix Class A Ordinary Shares to BVF shareholders (in shares)			18,424,355
Class A Ordinary Shares
Schedule Of Reverse Recapitalization [Line Items]
Shares outstanding (in shares)			36,925,639
Plus issuance of Helix Class A Ordinary Shares to PIPE Investors (in shares)	11,700,000
Plus issuance of Helix Class A Ordinary Shares to BVF shareholders (in shares)	18,501,284
Total MoonLake class A ordinary Shares outstanding at closing (in shares)	36,925,639
Class C Ordinary Shares
Schedule Of Reverse Recapitalization [Line Items]
Shares outstanding (in shares)			15,775,472
Plus issuance of Helix Class A Ordinary Shares to PIPE Investors (in shares)	15,775,472
Issuance of Helix Class C ordinary shares to ML parties (other than the BVF shareholders) (in shares)	15,775,472
Helix Acquisition Corp.
Schedule Of Reverse Recapitalization [Line Items]
Shares outstanding (in shares)		14,805,000
Helix Acquisition Corp. | Class A Ordinary Shares
Schedule Of Reverse Recapitalization [Line Items]
Less redemptions of class A ordinary shares of the class A ordinary shares issued by Helix prior to the closing date (in shares)		(8,080,645)
Helix Acquisition Corp. | Common class A, private placement
Schedule Of Reverse Recapitalization [Line Items]
Shares outstanding (in shares)		430,000
Helix Acquisition Corp. | Common class A, redeemable
Schedule Of Reverse Recapitalization [Line Items]
Shares outstanding (in shares)		11,500,000
Helix Acquisition Corp. | Class B Ordinary Shares
Schedule Of Reverse Recapitalization [Line Items]
Shares outstanding (in shares)		2,875,000

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Details)				3 Months Ended			4 Months Ended	6 Months Ended
	Apr. 05, 2022 shares	Dec. 13, 2021 shares	Apr. 28, 2021 co-founder SFr / shares shares	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2021 USD ($) $ / shares		Jun. 30, 2021 USD ($) $ / shares	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2021 USD ($) $ / shares
Class of Stock [Line Items]
Exchange ratio	33.638698
Number of shares outstanding (in shares)	52,701,111
Share-based compensation expense | $				$ 2,484,223	$ 1,250,365			$ 4,473,094	$ 1,250,365
Net loss per share - basic (in USD per share) | $ / shares				$ (0.34)	$ (2.90)			$ (1.13)	$ (2.11)
Cash, FDIC Insured Amount | $				$ 100,000				$ 100,000
Foreign currency transaction gain (loss) | $				$ 268,292	$ (3,493)			$ 340,553	$ (4,690)
Issuance of Class A ordinary shares upon business combination (in shares)				18,424,355
Minimum
Class of Stock [Line Items]
Property and equipment, useful life								3 years
Maximum
Class of Stock [Line Items]
Property and equipment, useful life								5 years
MoonLake AG Restricted Founder Shares
Class of Stock [Line Items]
Share-based compensation expense | $				$ 1,197,953	$ 1,250,365			$ 2,408,035	$ 1,250,365
MoonLake AG
Class of Stock [Line Items]
Reverse vesting percentage			90%
Number of shares outstanding (in shares)			110,000
Number of co-founders | co-founder			3
Net loss per share - basic (in USD per share) | $ / shares					$ (2.90)		$ (2.11)
Basic EPS before recapitalization exchange ratio adjustment (in USD per share) | $ / shares					(97.48)		(71.09)
MoonLake AG | Previously Reported
Class of Stock [Line Items]
Basic EPS before recapitalization exchange ratio adjustment (in USD per share) | $ / shares					(53.49)		(47.80)
Net loss per share, including retroactive adjustments, basic (in USD per share) | $ / shares					$ (1.59)		$ (1.42)
MoonLake AG | MoonLake AG Restricted Founder Shares
Class of Stock [Line Items]
Number of shares outstanding (in shares)			99,000
Vesting percentage			4.166%
Vesting period			2 years
Share-based compensation expense | $					$ 1,300,000		$ 1,300,000
Nominal value (CHF per share) | SFr / shares			SFr 0.10
Shares repurchased as a result of terminated contractual relationship with co-founder (in shares)		57,756
Class A Ordinary Shares
Class of Stock [Line Items]
Number of shares issued (in shares)	11,700,000
Number of shares outstanding (in shares)				36,925,639				36,925,639
Net loss per share - basic (in USD per share) | $ / shares				$ (0.34)	$ 0	[1]		$ (1.13)	$ 0	[1]
Issuance of Class A ordinary shares upon business combination (in shares)	18,501,284
Class C Ordinary Shares
Class of Stock [Line Items]
Number of shares issued (in shares)	15,775,472
Number of shares outstanding (in shares)				15,775,472				15,775,472
Class C Ordinary Shares | MoonLake AG
Class of Stock [Line Items]
Number of shares outstanding (in shares)			3,700,257
Class C Ordinary Shares | MoonLake AG | MoonLake AG Restricted Founder Shares
Class of Stock [Line Items]
Number of shares outstanding (in shares)			3,330,231
Shares repurchased as a result of terminated contractual relationship with co-founder (in shares)		1,942,837
[1] 1 For additional details, refer to Note 3 - Basis of Presentation and Significant Accounting Policies - Restatement of Consolidated Financial Statements as of and for the three .

Risks and Liquidity (Details)

Risks and Liquidity (Details) - USD ($)		1 Months Ended	3 Months Ended				6 Months Ended
	Apr. 05, 2022	Mar. 31, 2021	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	[1]	Jun. 30, 2022	Jun. 30, 2021	[1],[2]	Dec. 31, 2021
Risks and Uncertainties [Abstract]
Net loss		$ (351,673)	$ (17,416,329)	$ (15,880,142)	$ (32,685,779)		$ (33,296,471)	$ (33,037,452)
Excess of current assets less current liabilities			94,500,000				94,500,000
Unrestricted cash			$ 92,707,931				$ 92,707,931			$ 8,038,845
Reverse recapitalization, net	$ 134,689,000
[1] 1 For additional details, refer to Note 3 - Basis of Presentation and Significant Accounting Policies - Restatement of Consolidated Financial Statements as of and for the three . 3 For additional details, refer to Note 3 - Basis of Presentation and Significant Accounting Policies - Restatement of Consolidated Financial Statements as of and for the three and six months ended June 30, 2021 .

Prepaid expenses (Details)

Prepaid expenses (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Advances on insurances	$ 2,714,439	$ 23,141
Advances on non-clinical research and clinical development services	2,236,442	547,586
Advances on supply and manufacturing services	83,559	750,622
Other prepayments	78,262	127,747
Total	$ 5,112,702	$ 1,449,096

Trade and other payables (Detai

Trade and other payables (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Supply and manufacturing fees payable	$ 401,991	$ 183,298
Legal and intellectual property (“IP”) advisory fees payable	246,750	1,233,070
Other consulting and advisory services	78,514	71,938
Research and development services	13,130	50,088
Other payables	50,676	30,896
Total	$ 791,061	$ 1,569,290

Accrued expenses and other cu_3

Accrued expenses and other current liabilities (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Tax liabilities	$ 1,559,202	$ 63,922
License fees	636,217	2,055,687
Bonuses and related employees compensation expenses	530,714	1,419,137
Consultant and other fees	277,540	49,211
Legal fees	62,278	930,354
Total	$ 3,065,951	$ 4,518,311

Accrued expenses and other cu_4

Accrued expenses and other current liabilities -Narrative (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Tax liabilities	$ 1,559,202	$ 63,922
Stamp duty fees	$ 1,300,000

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Retirement Benefits [Abstract]
Service cost	$ 109,607	$ 11,423	$ 225,965	$ 11,423
Interest cost	1,229	0	2,533	0
Expected return on plan assets	(3,771)	0	(7,775)	0
Amortization of Unrecognized Loss	442	0	910	0
Total Net Periodic Benefit Cost	$ 107,507	$ 11,423	$ 221,633	$ 11,423

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details)	6 Months Ended				12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CHF (SFr)	Jun. 30, 2022 USD ($)	Jun. 30, 2022 CHF (SFr)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CHF (SFr)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Contributions made to plan			$ 70,137	SFr 66,197
Forecast
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Contributions made to plan	$ 66,426	SFr 64,046			$ 136,563	SFr 130,243

Shareholders_ Equity (Deficit_2

Shareholders’ Equity (Deficit) - Schedule of Stock Authorized and Issued (Details)		3 Months Ended
	Apr. 05, 2022 shares	Jun. 30, 2022 SFr / shares shares	Mar. 31, 2022 shares	Jun. 30, 2021 shares	Jun. 30, 2022 $ / shares	Apr. 01, 2022 SFr / shares	Dec. 31, 2021 SFr / shares
Series A Preferred Shares
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		(36,000,000)
Common Shares
Issuance of Class A Ordinary Shares upon Business Combination (in shares)		600,000,000
Issuance of Class A ordinary shares upon business combination (in shares)		18,424,355
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		(36,000,000)
Common Shares Held In Treasury
Share-based payment under the equity incentive plan ESPP (in shares)			1,177,354
Total Number of Shares
Authorized, beginning balance (in shares)		36,000,000	36,000,000
Shares issued, beginning balance (in shares)		34,276,756	33,099,402
Share-based payment under the equity incentive plan ESPP (in shares)			1,177,354
Issuance of Class A Ordinary Shares upon Business Combination (in shares)		600,000,000
Issuance of Class A Ordinary Shares upon Business Combination (in shares)		18,424,355
Authorized, ending balance (in shares)		600,000,000	36,000,000
Shares issued, ending balance (in shares)		52,701,111	34,276,756
Series A Preferred Shares
Series A Preferred Shares
Authorized, beginning balance (in shares)			22,880,908
Issued, beginning balance (in shares)			22,880,908
Total Number of Shares
Series A Preferred Shares, par value (CHF per share) | SFr / shares						SFr 0.10	SFr 0.10
Class A Ordinary Shares
Common Shares
Issuance of Class A ordinary shares upon business combination (in shares)	18,501,284
Authorized, ending balance (in shares)		500,000,000
Issued, ending balance (in shares)		36,925,639
Total Number of Shares
Issuance of Class A Ordinary Shares upon Business Combination (in shares)	18,501,284
Common stock, par value (CHF/USD per share) | $ / shares					$ 0.0001
Class C Ordinary Shares
Common Shares
Authorized, ending balance (in shares)		100,000,000
Issued, ending balance (in shares)		15,775,472
Total Number of Shares
Common stock, par value (CHF/USD per share) | $ / shares					0.0001
Series A Preferred Shares
Series A Preferred Shares
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		(22,880,908)		19,207,697
Common Shares
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		(22,880,908)		19,207,697
Common Shares Held In Treasury
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		(22,880,908)		19,207,697
Total Number of Shares
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		(22,880,908)		19,207,697
Series A Preferred Shares | Series A Preferred Shares
Series A Preferred Shares
Authorized, beginning balance (in shares)		22,880,908	22,880,908
Issued, beginning balance (in shares)		22,880,908	22,880,908
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		(22,880,908)
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		(22,880,908)
Authorized, ending balance (in shares)		0	22,880,908
Issued, ending balance (in shares)		0	22,880,908
Common Shares
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		(22,880,908)
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		(22,880,908)
Common Shares Held In Treasury
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		(22,880,908)
Total Number of Shares
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		(22,880,908)
Series A Preferred Shares, par value (CHF per share) | SFr / shares		SFr 0.10
Common Shares
Series A Preferred Shares
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		(13,119,092)
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		(12,161,331)		(19,207,697)
Common Shares
Authorized, beginning balance (in shares)		13,119,092	13,119,092
Issued, beginning balance (in shares)		12,161,331	12,161,331
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		(13,119,092)
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		(12,161,331)		(19,207,697)
Authorized, ending balance (in shares)		0	13,119,092
Issued, ending balance (in shares)		0	12,161,331
Common Shares Held In Treasury
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		(12,161,331)		(19,207,697)
Total Number of Shares
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		(12,161,331)		(19,207,697)
Series A Preferred Shares, par value (CHF per share) | SFr / shares		SFr 0.10
Common Shares | Class A Ordinary Shares
Series A Preferred Shares
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		18,501,284
Common Shares
Authorized, beginning balance (in shares)		0
Issued, beginning balance (in shares)		0
Issuance of Class A Ordinary Shares upon Business Combination (in shares)		500,000,000
Issuance of Class A ordinary shares upon business combination (in shares)		18,424,355
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		18,501,284
Authorized, ending balance (in shares)		500,000,000	0
Issued, ending balance (in shares)		36,925,639	0
Common Shares Held In Treasury
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		18,501,284
Total Number of Shares
Issuance of Class A Ordinary Shares upon Business Combination (in shares)		500,000,000
Issuance of Class A Ordinary Shares upon Business Combination (in shares)		18,424,355
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		18,501,284
Common stock, par value (CHF/USD per share) | $ / shares					0.0001
Common Shares | Class C Ordinary Shares
Series A Preferred Shares
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)	15,775,472	15,775,472
Common Shares
Authorized, beginning balance (in shares)		0
Issued, beginning balance (in shares)		0
Issuance of Class A Ordinary Shares upon Business Combination (in shares)		100,000,000
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)	15,775,472	15,775,472
Authorized, ending balance (in shares)		100,000,000	0
Issued, ending balance (in shares)		15,775,472	0
Common Shares Held In Treasury
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)	15,775,472	15,775,472
Total Number of Shares
Issuance of Class A Ordinary Shares upon Business Combination (in shares)		100,000,000
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)	15,775,472	15,775,472
Common stock, par value (CHF/USD per share) | $ / shares					$ 0.0001
Common Shares Held In Treasury
Series A Preferred Shares
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		765,483
Common Shares
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		765,483
Common Shares Held In Treasury
Held in Treasury, beginning balance (in shares)		(765,483)	(1,942,837)
Share-based payment under the equity incentive plan ESPP (in shares)			1,177,354
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		765,483
Held in Treasury, ending balance (in shares)		0	(765,483)
Total Number of Shares
Share-based payment under the equity incentive plan ESPP (in shares)			1,177,354
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		765,483
Common stock, par value (CHF/USD per share) | SFr / shares		SFr 0.10

Shareholders_ Equity (Deficit_3

Shareholders’ Equity (Deficit) - Narrative (Details)		3 Months Ended
	Apr. 05, 2022 shares	Jun. 30, 2022 vote $ / shares shares	Jun. 30, 2021 shares	Apr. 04, 2022 shares	Mar. 31, 2022 shares	Dec. 31, 2021 shares	Mar. 31, 2021 shares	Mar. 10, 2021 shares
Class of Stock [Line Items]
Common Shares, shares outstanding (in shares)	52,701,111
ML parties other than BVF shareholders
Class of Stock [Line Items]
MoonLake AG common shares (in shares)				468,968
Common Shares
Class of Stock [Line Items]
Common Shares, shares issued (in shares)		0			12,161,331	12,161,331
Common Shares, shares outstanding (in shares)		0	11,100,770		12,161,331	12,161,331	33,638,698	33,638,698
Common Shares, shares authorized (in shares)		0			13,119,092	13,119,092
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		(12,161,331)	(19,207,697)
Class A Ordinary Shares
Class of Stock [Line Items]
Common Shares, shares issued (in shares)		36,925,639
Common Shares, shares outstanding (in shares)		36,925,639
Common Shares, shares authorized (in shares)		500,000,000
Common Shares, par value (USD per share) | $ / shares		$ 0.0001
Class A Ordinary Shares | Common Shares
Class of Stock [Line Items]
Common Shares, shares issued (in shares)		36,925,639			0
Common Shares, shares outstanding (in shares)		36,925,639			0
Common Shares, shares authorized (in shares)		500,000,000			0
Common Shares, par value (USD per share) | $ / shares		$ 0.0001
Common Shares, votes per share | vote		1
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)		18,501,284
Class C Ordinary Shares
Class of Stock [Line Items]
Common Shares, shares issued (in shares)		15,775,472
Common Shares, shares outstanding (in shares)		15,775,472
Common Shares, shares authorized (in shares)		100,000,000
Common Shares, par value (USD per share) | $ / shares		$ 0.0001
Class C Ordinary Shares | Common Shares
Class of Stock [Line Items]
Common Shares, shares issued (in shares)		15,775,472			0
Common Shares, shares outstanding (in shares)		15,775,472			0
Common Shares, shares authorized (in shares)		100,000,000			0
Common Shares, par value (USD per share) | $ / shares		$ 0.0001
Common Shares, votes per share | vote		1
Conversion of MoonLake AG shares into Class A Ordinary Shares and Class C Ordinary shares following the Business Combination (in shares)	15,775,472	15,775,472

Net loss per share - Calculatio

Net loss per share - Calculation of Net Loss per Share (Details) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021		Jun. 30, 2022	Jun. 30, 2021
Numerator
Net loss attributable to controlling interests shareholders	$ (12,120,719)	$ (32,685,779)	[1]	$ (22,754,974)	$ (33,037,452)	[1]
Denominator
Total weighted average number of outstanding shares, basic (in shares)	35,201,713	11,278,991		20,191,072	15,632,208
Total weighted average number of outstanding shares, diluted (in shares)	35,201,713	11,278,991		20,191,072	15,632,208
Net loss per share - basic (in USD per share)	$ (0.34)	$ (2.90)		$ (1.13)	$ (2.11)
Net loss per share - diluted (in USD per share)	$ (0.34)	$ (2.90)		$ (1.13)	$ (2.11)
[1] 1 For additional details, refer to Note 3 - Basis of Presentation and Significant Accounting Policies - Restatement of Consolidated Financial Statements as of and for the three .

Net loss per share - Narrative

Net loss per share - Narrative (Details) - $ / shares			3 Months Ended			6 Months Ended
		Apr. 05, 2022	Jun. 30, 2022	Jun. 30, 2021		Jun. 30, 2022	Jun. 30, 2021		Apr. 04, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average number of Shares, basic (in shares)			35,201,713	11,278,991		20,191,072	15,632,208
Weighted-average number of Shares, diluted (in shares)			35,201,713	11,278,991		20,191,072	15,632,208
Net loss per share - basic (in USD per share)			$ (0.34)	$ (2.90)		$ (1.13)	$ (2.11)
Net loss per share - diluted (in USD per share)			$ (0.34)	$ (2.90)		$ (1.13)	$ (2.11)
Number of shares outstanding (in shares)		52,701,111
ML parties other than BVF shareholders
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
MoonLake AG common shares (in shares)									468,968
Pro forma
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average number of Shares, basic (in shares)			50,110,401			27,686,600
Weighted-average number of Shares, diluted (in shares)			50,110,401			27,686,600
Net loss per share - basic (in USD per share)			$ (0.35)			$ (1.20)
Net loss per share - diluted (in USD per share)			$ (0.35)			$ (1.20)
Number of shares outstanding (in shares)			52,701,111			52,701,111
Class C Ordinary Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from weighted average number of shares (in shares)			15,775,472			15,775,472
Stock converted (in shares)		15,775,472
Number of shares outstanding (in shares)			15,775,472			15,775,472
Class C Ordinary Shares | Pro forma | ML parties other than BVF shareholders
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock forfeited (in shares)			15,775,472			15,775,472
Class A Ordinary Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average number of Shares, basic (in shares)	[1]		35,201,713	0	[2]	20,191,072	0	[2]
Weighted-average number of Shares, diluted (in shares)	[1]		35,201,713	0	[2]	20,191,072	0	[2]
Net loss per share - basic (in USD per share)			$ (0.34)	$ 0	[2]	$ (1.13)	$ 0	[2]
Net loss per share - diluted (in USD per share)			$ (0.34)	$ 0	[2]	$ (1.13)	$ 0	[2]
Number of shares outstanding (in shares)			36,925,639			36,925,639
Class A Ordinary Shares | Pro forma | ML parties other than BVF shareholders
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock converted (in shares)						15,775,472
[1] 2 As a result of the Business Combination, the Company has retroactively restated the weighted average number of shares outstanding prior to April 5, 2022 to give effect to 1 For additional details, refer to Note 3 - Basis of Presentation and Significant Accounting Policies - Restatement of Consolidated Financial Statements as of and for the three .

Share-based Compensation - Narr

Share-based Compensation - Narrative (Details)

3 Months Ended

4 Months Ended

6 Months Ended

Apr. 06, 2022 shares

Apr. 05, 2022 shares

Apr. 28, 2021 SFr / shares shares

Jun. 30, 2022 USD ($) $ / shares shares

Jun. 30, 2021 USD ($) shares

Jun. 30, 2021 USD ($) shares

Jun. 30, 2022 USD ($) $ / shares shares

Jun. 30, 2021 USD ($) shares

Mar. 31, 2022 shares

Dec. 31, 2021 shares

Mar. 31, 2021 shares

Mar. 10, 2021 shares

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Share-based compensation expense | $

$ 2,484,223

$ 1,250,365

$ 4,473,094

$ 1,250,365

Common Shares, shares outstanding (in shares)

52,701,111

MoonLake AG Common Shares

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Common shares issuable (in shares)

14,596

14,596

Common Shares, shares outstanding (in shares)

0

11,100,770

11,100,770

0

11,100,770

12,161,331

12,161,331

33,638,698

33,638,698

Equity Incentive Plan

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Share-based compensation expense | $

$ 115,139

$ 0

$ 115,139

$ 0

Weighted average period of recognition

2 years 9 months 7 days

Expiration period

10 years

Awards granted (in shares)

180,000

180,000

Unrecognized compensation expense | $

1,400,000

$ 1,400,000

Equity Incentive Plan | Share-Based Payment Arrangement, Tranche One

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Vesting percentage

33.33%

Equity Incentive Plan | Share-Based Payment Arrangement, Tranche Two

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Vesting percentage

33.33%

Equity Incentive Plan | Share-Based Payment Arrangement, Tranche Three

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Vesting percentage

33.33%

Employee Stock Option Plan (ESOP)

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Unrecognized compensation expense, options | $

2,200,000

2,200,000

MoonLake AG Restricted Founder Shares

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Share-based compensation expense | $

1,197,953

1,250,365

2,408,035

1,250,365

Unrecognized share-based compensation expense, non-option awards | $

4,000,000

4,000,000

Monthly SBP expense | $

403,386

403,386

MoonLake AG ESPP

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Share-based compensation expense | $

1,056,516

0

1,749,194

0

Unrecognized share-based compensation expense, non-option awards | $

11,700,000

$ 11,700,000

Vesting period after occurrence of change of control

12 months

Weighted average period of recognition

2 years 3 months 7 days

MoonLake AG ESPP | Share-Based Payment Arrangement, Tranche One

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Vesting percentage

25%

MoonLake AG ESPP | Share-Based Payment Arrangement, Tranche Two

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Vesting percentage

25%

MoonLake AG ESPP | Share-Based Payment Arrangement, Tranche Three

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Vesting percentage

25%

MoonLake AG ESPP | Share-Based Payment Arrangement, Tranche Four

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Vesting percentage

25%

MoonLake AG ESPP | Employee Stock Option Plan (ESOP)

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Weighted average period of recognition

3 years 1 month 20 days

Employee Stock Option

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Share-based compensation expense | $

$ 114,615

0

$ 200,726

$ 0

Employee Stock Option | Employee Stock Option Plan (ESOP)

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Vesting period after occurrence of change of control

12 months

Awards granted (in shares)

242,737

Employee Stock Option | Employee Stock Option Plan (ESOP) | Share-Based Payment Arrangement, Tranche One

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Vesting percentage

25%

Employee Stock Option | Employee Stock Option Plan (ESOP) | Share-Based Payment Arrangement, Tranche Two

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Vesting percentage

25%

Employee Stock Option | Employee Stock Option Plan (ESOP) | Share-Based Payment Arrangement, Tranche Three

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Vesting percentage

25%

Employee Stock Option | Employee Stock Option Plan (ESOP) | Share-Based Payment Arrangement, Tranche Four

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Vesting percentage

25%

Share-Based Payment Arrangement, Option And Employee Stock | Treasury Stock

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Common shares issuable (in shares)

22,756

22,756

Class C Ordinary Shares

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Common Shares, shares outstanding (in shares)

15,775,472

15,775,472

Common Shares, par value (USD per share) | $ / shares

$ 0.0001

$ 0.0001

Class C Ordinary Shares | MoonLake AG Common Shares

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Common shares issuable (in shares)

490,990

490,990

Common Shares, shares outstanding (in shares)

15,775,472

15,775,472

0

Common Shares, par value (USD per share) | $ / shares

$ 0.0001

$ 0.0001

Class C Ordinary Shares | Share-Based Payment Arrangement, Option And Employee Stock | Treasury Stock

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Common shares issuable (in shares)

765,482

765,482

Class A Ordinary Shares

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Common Shares, shares outstanding (in shares)

36,925,639

36,925,639

Common Shares, par value (USD per share) | $ / shares

$ 0.0001

$ 0.0001

Class A Ordinary Shares | MoonLake AG Common Shares

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Common Shares, shares outstanding (in shares)

36,925,639

36,925,639

0

Common Shares, par value (USD per share) | $ / shares

$ 0.0001

$ 0.0001

MoonLake AG

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Reverse vesting percentage

90%

Common Shares, shares outstanding (in shares)

110,000

MoonLake AG | MoonLake AG Restricted Founder Shares

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Share-based compensation expense | $

$ 1,300,000

$ 1,300,000

Common Shares, shares outstanding (in shares)

99,000

Vesting percentage

4.166%

Vesting period

2 years

Nominal value (CHF per share) | SFr / shares

SFr 0.10

MoonLake AG | Class C Ordinary Shares

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Common Shares, shares outstanding (in shares)

3,700,257

MoonLake AG | Class C Ordinary Shares | MoonLake AG Restricted Founder Shares

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Common Shares, shares outstanding (in shares)

3,330,231

Share-based Compensation - Shar

Share-based Compensation - Share-based Compensation Expense By Plan (Details) - USD ($)		3 Months Ended		4 Months Ended	6 Months Ended
	Apr. 28, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Apr. 05, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation expense		$ 2,484,223	$ 1,250,365		$ 4,473,094	$ 1,250,365
Common Shares, shares outstanding (in shares)							52,701,111
MoonLake AG
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common Shares, shares outstanding (in shares)	110,000
Merck KGaA Darmstadt in-licensing agreement
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Cash consideration	$ 25,000,000
Equity consideration	99,000
Total payment	$ 1
Fair value of the equity consideration	$ 4,851,000
Class C Ordinary Shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common Shares, shares outstanding (in shares)		15,775,472			15,775,472
Class C Ordinary Shares | MoonLake AG
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common Shares, shares outstanding (in shares)	3,700,257
Research and Development Expense
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation expense		$ 138,037	0		$ 218,930	0
General and Administrative Expense
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation expense		2,346,186	1,250,365		4,254,164	1,250,365
Equity Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation expense		115,139	0		115,139	0
MoonLake AG Restricted Founder Shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation expense		1,197,953	1,250,365		2,408,035	1,250,365
MoonLake AG Restricted Founder Shares | MoonLake AG
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation expense			1,300,000	$ 1,300,000
Common Shares, shares outstanding (in shares)	99,000
MoonLake AG Restricted Founder Shares | Class C Ordinary Shares | MoonLake AG
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common Shares, shares outstanding (in shares)	3,330,231
MoonLake AG ESPP
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation expense		1,056,516	0		1,749,194	0
Employee Stock Option
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation expense		$ 114,615	$ 0		$ 200,726	$ 0

Share-based Compensation - Assu

Share-based Compensation - Assumptions (Details)		6 Months Ended
	Apr. 06, 2022 $ / shares	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2022 SFr / shares shares	Dec. 31, 2021 shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Enterprise value | $		$ 360,000,000
Fully diluted shares (in shares) | shares		1,070,196
MoonLake AG Restricted Founder Shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Estimated fair value per share of Restricted Founder Shares on the grant date (in dollars per share)		$ 49
Estimated fair value of Restricted Founder Shares on the resignation date of one of the co-founders of MoonLake AG (in dollars per share)		336.39
Purchase price (in CHF per share)		$ 0.1
Awards outstanding (in shares) | shares		2,775,192	2,775,192	4,440,308
MoonLake AG ESPP
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Estimated fair value per share of Restricted Founder Shares on the grant date (in dollars per share)		$ 336.39
Purchase price (in CHF per share)		$ 0.1
Awards outstanding (in shares) | shares		2,237,915	2,237,915	1,060,561
Equity Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Estimated fair value of the option on the grant date using Black-Scholes model (in dollars per share)	$ 8.25
Exercise price (in dollars per share)	$ 12.25
Expected term of the award	6 years
Expected volatility of the share price	75%
Risk-free interest rate	3%
Expected dividend rate	0%
Employee Stock Option Plan (ESOP) | Employee Stock Option
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Estimated fair value of the option on the grant date using Black-Scholes model (in dollars per share)		$ 172.57
Exercise price (in dollars per share) | SFr / shares			SFr 27.25
Expected term of the award		6 years
Expected volatility of the share price		75%
Risk-free interest rate		3%
Expected dividend rate		0%

Share-based Compensation - Awar

Share-based Compensation - Awarded and Granted (Details) - shares		6 Months Ended
	Apr. 06, 2022	Jun. 30, 2022
Equity Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Awards outstanding, beginning balance (in shares)		0
Awards granted (in shares)	180,000	180,000
Awards outstanding, ending balance (in shares)		180,000
Awards exercisable (in shares)		0
MoonLake AG Restricted Founder Shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Awards outstanding, beginning balance (in shares)		4,440,308
Awards vested (in shares)		(1,665,116)
Awards outstanding, ending balance (in shares)		2,775,192
MoonLake AG ESPP
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Awards outstanding, beginning balance (in shares)		1,060,561
Awards granted (in shares)		1,177,354
Awards outstanding, ending balance (in shares)		2,237,915
Employee Stock Option | Employee Stock Option Plan (ESOP)
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Awards outstanding, beginning balance (in shares)		224,033
Awards granted (in shares)		242,737
Awards outstanding, ending balance (in shares)		466,770
Awards exercisable (in shares)		0

Income taxes (Details)

Income taxes (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate	0.10%	0%	0%

Commitment and Contingencies (D

Commitment and Contingencies (Details) - 6 months ended Jun. 30, 2022 € in Millions, $ in Millions	USD ($)	EUR (€)
Other Commitments [Line Items]
Total commitments not yet recognized	$ 44.8
Percentage due upon initiation of next clinical trial (less than)	1%
License | SLK Program
Other Commitments [Line Items]
Variable consideration amount	$ 315.3	€ 302.1