MoonLake Immunotherapeutics (MLTX) has priced an upsized $200 million public offering as the company moves to accelerate development and potential commercialization activities for its lead inflammatory disease candidate, Sonelokimab.
MoonLake will sell 9,000,000 Class A ordinary shares at $20.00 per share, along with pre-funded warrants for up to 1,000,000 additional shares priced at $19.9999 per warrant, reflecting the $0.0001 exercise price per share. The pre-funded warrants are exercisable immediately.
Gross proceeds are expected to total approximately $200 million before underwriting discounts, commissions, and offering expenses. Underwriters also have a 30-day option to purchase up to 1,500,000 additional shares at the public offering price, excluding fees and commissions. The offering is expected to close on or about June 25, 2026, subject to customary closing conditions.
MoonLake stated that net proceeds, combined with existing cash, cash equivalents, and marketable securities, will support research, development, and pre-commercialization activities for Sonelokimab, and commercialization if the therapy is approved. Funds will also be used for general corporate purposes.
Leerink Partners, Guggenheim Securities, Cantor and LifeSci Capital are serving as joint bookrunning managers, while H.C. Wainwright & Co. and Clear Street are acting as lead managers for the transaction.
MLTX has traded between $5.95 and $62.75 over the past year. The stock closed Tuesday's trading at $21.22, down 4.24%. During overnight trading session the stock is at $21.00, down 1.04%.
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