Moonlake Immunotherapeutics (MLTX)
NASDAQ:MLTX
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MoonLake Immunotherapeutics
(NASDAQ:MLTX)
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Rating:54Neutral
Price Target:
$16.50
▼(-10.03% Downside)
Action:Reiterated
Date:05/14/26
The score is held back primarily by weak financial performance (no revenue, large losses, heavy cash burn) and increased leverage risk. Offsetting this, corporate events are strongly positive due to encouraging clinical/regulatory progress and enhanced funding capacity, while technicals are mildly supportive but not strong enough to outweigh the fundamental cash-burn profile.
Positive Factors
Regulatory clarity for sonelokimab
A positive final pre‑BLA meeting and an agreed submission plan materially reduce regulatory execution risk for sonelokimab. Clear alignment on the MIRA trial as the basis for effectiveness and inclusion of adolescent data establishes a defined path to approval and commercialization, raising the probability of a U.S. launch in H2 2027 and focusing development resources on a known regulatory endpoint.
Negative Factors
Persistent cash burn and no revenue
As a pre‑commercial biotech, MoonLake reports no product revenue while reporting large, sustained net losses and one‑for‑one free cash outflows. This structural cash burn creates ongoing funding dependency, raising dilution or refinancing risk over the medium term if clinical or regulatory milestones slip, and increases sensitivity to capital markets and lender conditions when financing is required.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulatory clarity for sonelokimab
A positive final pre‑BLA meeting and an agreed submission plan materially reduce regulatory execution risk for sonelokimab. Clear alignment on the MIRA trial as the basis for effectiveness and inclusion of adolescent data establishes a defined path to approval and commercialization, raising the probability of a U.S. launch in H2 2027 and focusing development resources on a known regulatory endpoint.
Read all positive factors
MoonLake Immunotherapeutics (MLTX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.26B
Dividend YieldN/A
Average Volume (3M)978.88K
Price to Earnings (P/E)―
Beta (1Y)0.72
Revenue GrowthN/A
EPS Growth-68.11%
CountryUS
Employees100
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-3.88
Shares Outstanding73,615,395
10 Day Avg. Volume1,157,131
30 Day Avg. Volume978,883
Financial Highlights & Ratios
PEG Ratio-0.04
Price to Book (P/B)2.79
Price to Sales (P/S)0.00
P/FCF Ratio-4.33
Enterprise Value/Market Cap0.91
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-488.19
Enterprise Value/Ebitda-4.58
Forecast
1Y Price Target
$29.15Price Target Upside58.96% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering14
EPS Forecast (FY)-3.84
Revenue Forecast (FY)N/A
MoonLake Immunotherapeutics Business Overview & Revenue Model
Company Description
MoonLake Immunotherapeutics, a clinical-stage biopharmaceutical company, engages in developing therapies. It is developing Sonelokimab, a novel investigational Nanobody therapy for the treatment of inflammation. The company is involved in conducti...
How the Company Makes Money
As a clinical-stage biotechnology company, MoonLake Immunotherapeutics does not have publicly available information indicating recurring product sales revenue; therefore, detailed specifics on commercial revenue streams are not available (null). T...
MoonLake Immunotherapeutics Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
46
Neutral
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -2.34M | -2.62M | 0.00 | 0.00 | 0.00 | -4.97K |
| EBITDA | -249.01M | -219.85M | -141.71M | -53.75M | -64.90M | -53.63M |
| Net Income | -257.08M | -227.32M | -118.94M | -36.01M | -49.97M | -53.64M |
Balance Sheet | ||||||
| Total Assets | 400.37M | 424.43M | 477.93M | 526.54M | 76.84M | 9.68M |
| Cash, Cash Equivalents and Short-Term Investments | 357.92M | 393.97M | 448.03M | 511.01M | 72.11M | 8.04M |
| Total Debt | 100.80M | 75.71M | 2.83M | 3.70M | 282.58K | 15.00M |
| Total Liabilities | 146.35M | 119.95M | 24.54M | 13.05M | 8.08M | 21.33M |
| Stockholders Equity | 254.02M | 304.48M | 446.83M | 495.68M | 48.90M | -11.65M |
Cash Flow | ||||||
| Free Cash Flow | -224.15M | -196.04M | -117.11M | -43.06M | -55.91M | -35.23M |
| Operating Cash Flow | -224.15M | -196.01M | -116.59M | -42.78M | -55.89M | -35.18M |
| Investing Cash Flow | 146.84M | 202.99M | -205.60M | -25.18M | -32.34M | -50.71K |
| Financing Cash Flow | 103.52M | 146.00M | 51.31M | 479.70M | 119.69M | 43.26M |
MoonLake Immunotherapeutics Technical Analysis
Positive
18.34
Price Trends
17.40
Positive
16.81
Positive
22.24
Negative
Market Momentum
0.03
Negative
56.26
Neutral
29.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MLTX, the sentiment is Positive. The current price of 18.34 is above the 20-day moving average (MA) of 17.31, above the 50-day MA of 17.40, and below the 200-day MA of 22.24, indicating a neutral trend. The MACD of 0.03 indicates Negative momentum. The RSI at 56.26 is Neutral, neither overbought nor oversold. The STOCH value of 29.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MLTX.
MoonLake Immunotherapeutics Risk Analysis
MoonLake Immunotherapeutics disclosed 65 risk factors in its most recent earnings report. MoonLake Immunotherapeutics reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
MoonLake Immunotherapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ― | ― | 39.71% | ― | 42.46% | ― | |
55 Neutral | $3.82B | -7.39 | -43.96% | ― | 4905.26% | -34.49% | |
54 Neutral | $1.26B | -4.76 | -85.61% | ― | ― | -68.11% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $6.49B | 453.36 | -17.76% | ― | -64.36% | -302.09% | |
49 Neutral | $2.07B | -10.21 | -24.29% | ― | 8.57% | 35.12% |
* Healthcare Sector Average
MLTX
MoonLake Immunotherapeutics
18.19
-20.74
-53.28%
PTGX
Protagonist Therapeutics
99.19
53.53
117.24%
ZLAB
Zai Lab
18.61
-12.71
-40.58%
APLS
Apellis Pharmaceuticals
41.03
23.59
135.26%
CRNX
Crinetics Pharmaceuticals
36.80
7.04
23.66%
MoonLake Immunotherapeutics Corporate Events
Business Operations and StrategyFinancial DisclosuresProduct-Related AnnouncementsRegulatory Filings and Compliance
MoonLake advances sonelokimab toward BLA after positive FDA meeting
Positive
May 11, 2026
MoonLake Immunotherapeutics reported that an April 1, 2026 final pre-BLA meeting with the U.S. FDA for sonelokimab in hidradenitis suppurativa yielded a positive outcome, with agreement on submission plans, label strategy and inclusion of adolesce...
Business Operations and StrategyExecutive/Board ChangesFinancial DisclosuresPrivate Placements and Financing
MoonLake Highlights Positive S-OLARIS Data and Investor Day
Positive
Feb 23, 2026
On February 20, 2026, MoonLake Immunotherapeutics amended its loan and security agreement with Hercules Capital, expanding a senior secured credit facility to six tranches totaling up to $500 million and drawing an additional $25 million. The amen...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.