MoonLake prices $200 million public offering at $20 per share

MoonLake Immunotherapeutics (NASDAQ: MLTX) has priced an underwritten public offering of 9,000,000 Class A ordinary shares at $20.00 per share, according to a company statement. In addition, pre-funded warrants to purchase up to 1,000,000 Class A ordinary shares were offered at $19.9999 per warrant to certain investors in lieu of shares.

Gross proceeds from the offering are expected to be approximately $200 million before underwriting discounts, commissions, and other expenses. MoonLake has also granted underwriters a 30-day option to purchase up to an additional 1,500,000 Class A ordinary shares at the public offering price, less underwriting discounts and commissions.

The offering is expected to close on or about June 25, 2026, subject to customary closing conditions. All securities in the offering are being sold by MoonLake.

The company said it intends to use net proceeds, together with existing cash, cash equivalents, and marketable securities, to fund research, development, pre-commercialization, and commercialization activities related to its drug candidate sonelokimab, if approved, as well as for general corporate purposes.

Leerink Partners, Guggenheim Securities, Cantor, and LifeSci Capital are acting as joint bookrunning managers. H.C. Wainwright & Co. and Clear Street are serving as lead managers.

MoonLake is a clinical-stage biopharmaceutical company headquartered in Zug, Switzerland, focused on the development of sonelokimab for inflammatory diseases including hidradenitis suppurativa, psoriatic arthritis, axial spondyloarthritis, and palmoplantar pustulosis.

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