MoonLake proposes $150M public offering of Class A shares

MoonLake Immunotherapeutics (NASDAQ: MLTX), a clinical-stage biopharmaceutical company based in Zug, Switzerland, announced a proposed public offering of $150 million of its Class A ordinary shares, according to a press release.

The company also plans to offer pre-funded warrants to purchase Class A ordinary shares to certain investors in lieu of shares. Underwriters have been granted a 30-day option to purchase up to an additional $22.5 million in Class A ordinary shares at the public offering price, less underwriting discounts and commissions.

MoonLake stated it intends to use the net proceeds, combined with existing cash, cash equivalents, and marketable securities, to fund research, development, pre-commercialization, and commercialization activities for its investigational drug sonelokimab, if approved, as well as for general corporate purposes.

Leerink Partners, Guggenheim Securities, Cantor, and LifeSci Capital are serving as joint bookrunning managers for the offering.

The offering is subject to market and other conditions, and the company noted there is no assurance as to whether or when it may be completed, or as to its final size or terms. A shelf registration statement related to the offering became effective with the Securities and Exchange Commission on September 11, 2023.

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