MoonLake Immunotherapeutics Announces Pricing of $75 Million Underwritten Offering

ZUG, Switzerland, November 5, 2025 – MoonLake Immunotherapeutics (Nasdaq: MLTX) (“MoonLake”), a clinical-stage biotechnology company focused on advancing therapies to address significant unmet needs in inflammatory skin and joint diseases, today announced the pricing of an underwritten offering of 7,142,857 Class A ordinary shares at an offering price per share of $10.50. The gross proceeds from the offering to MoonLake, before deducting the underwriting discounts and commissions and other offering expenses payable by MoonLake, are expected to be approximately $75 million. The offering is expected to close on or about November 6, 2025, subject to the satisfaction of customary closing conditions. All of the securities to be sold in the offering are being offered by MoonLake. MoonLake intends to use the net proceeds from this offering together with its existing cash, cash equivalents and marketable securities, to fund the research and development of sonelokimab and for general corporate purposes. Leerink Partners is acting as sole bookrunning manager for the offering. A shelf registration statement relating to these securities has been filed with the Securities and Exchange Commission (“SEC”) and became effective on September 11, 2023. A prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the prospectus supplement and accompanying prospectus may also be obtained, when available, by contacting Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, or by telephone at (800) 808-7525, ext. 6105, or by email at syndicate@leerink.com. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About MoonLake Immunotherapeutics MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company unlocking the potential of sonelokimab, a novel tri-specific IL-17A and IL-17F inhibiting Nanobody® that has the potential, based on response levels seen in clinical trials, to drive disease modification in dermatology and rheumatology patients. The company’s focus is on inflammatory diseases with a major unmet need, including hidradenitis suppurativa, psoriatic arthritis, axial spondyloarthritis and palmoplantar pustulosis – conditions affecting millions of people worldwide with a large need for improved treatment options. MoonLake was founded in 2021 and is headquartered in Zug, Switzerland. Forward-Looking Statements This press release contains certain “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements include, but are not limited to, statements regarding MoonLake’s expectations regarding the consummation of the offering, the anticipated use of the net proceeds of the offering and the satisfaction of customary closing conditions with respect to the offering. In addition, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that statement is not forward looking. Forward-looking statements are based on current expectations and assumptions that, while considered reasonable by MoonLake and its management, as the case may be, are inherently uncertain. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, our capital position and the sufficiency of our capital to fund our operations in future periods; changes as a result of market conditions or for other reasons; the risk that the offering will not be consummated; the impact of general economic, health, industrial or political conditions in the United States or internationally; and other risks and uncertainties identified in MoonLake’s Annual Report on Form 10-K for the year ended December 31, 2024 and other subsequent disclosure documents filed with the SEC. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this press release, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. MoonLake does not undertake or accept any duty to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or in the events, conditions or circumstances on which any such statement is based. Contacts: MoonLake Immunotherapeutics Media & Investors Relationsir@moonlaketx.com ICR HealthcareMary-Jane Elliott, Namrata Taak, Ashley TappTel: +44 (0) 20 3709 5700MoonLake@ICRHealthcare.com

MoonLake Immunotherapeutics Announces Pricing of $75 Million Underwritten Offering

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