Bihua Chen - 29 Sep 2025 Form 4 Insider Report for MoonLake Immunotherapeutics (MLTX)

Reporting relationship: Former 10% Owner
Issuer ticker: MLTX
Reported as of: 29 Sep 2025
Net transaction value: -$46,868,184
SEC form: 4
Accepted by SEC: 01 Oct 2025, 17:22:38 UTC
Prior SEC filing: 13 Aug 2025
Next SEC filing: 22 Jan 2026
Source filing: View source filing
Reporting owner signature: /s/ Bihua Chen

Key filing fact

Bihua Chen filed Form 4 for MoonLake Immunotherapeutics (MLTX) on 01 Oct 2025.

Key facts

This page summarizes Bihua Chen's Form 4 filing for MoonLake Immunotherapeutics (MLTX).
5 reported transactions and 0 derivative rows are listed below.
Accepted by SEC: 01 Oct 2025, 17:22.

Change

Previous filing in this sequence was filed on 13 Aug 2025.
Current net transaction value: -$46,868,184.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (6)

CIK 0001599214 Primary reporting owner

Chen Bihua

Relationship: Former 10% Owner
Address: C/O CORMORANT ASSET MANAGEMENT, LP, 200 CLARENDON STREET, 52ND FLOOR, BOSTON
Signature: /s/ Bihua Chen
Signature date: 01 Oct 2025

CIK 0001583977

Cormorant Asset Management, LP

Relationship: Former 10% Owner
Address: 200 CLARENDON STREET, 52ND FLOOR, BOSTON
Signature: /s/ CORMORANT ASSET MANAGEMENT, LP By: Cormorant Asset Management GP, LLC, its General Partner, By: Bihua Chen, Managing Member
Signature date: 01 Oct 2025

CIK 0001618442

Cormorant Global Healthcare Master Fund, LP

Relationship: Former 10% Owner
Address: 200 CLARENDON STREET, 52ND FLOOR, BOSTON
Signature: /s/ CORMORANT GLOBAL HEALTHCARE MASTER FUND, LP, By: Cormorant Global Healthcare GP, LLC, its General Partner By: Bihua Chen, Managing Member
Signature date: 01 Oct 2025

CIK 0001747677

Cormorant Private Healthcare Fund II, LP

Relationship: Former 10% Owner
Address: 200 CLARENDON STREET, 52ND FLOOR, BOSTON
Signature: /s/ CORMORANT PRIVATE HEALTHCARE FUND II, LP By: Cormorant Private Healthcare GP II, LLC, its General Partner By: Bihua Chen, Managing Member
Signature date: 01 Oct 2025

CIK 0001817320

Cormorant Private Healthcare Fund III LP

Relationship: Former 10% Owner
Address: 200 CLARENDON STREET, 52ND FLOOR, BOSTON
Signature: /s/ CORMORANT PRIVATE HEALTHCARE FUND III, LP By: Cormorant Private Healthcare GP III, LLC, its General Partner By: Bihua Chen, Managing Member
Signature date: 01 Oct 2025

CIK 0001871297

Cormorant Private Healthcare Fund IV LP

Relationship: Former 10% Owner
Address: 200 CLARENDON STREET, 52ND FLOOR, BOSTON
Signature: /s/ CORMORANT PRIVATE HEALTHCARE FUND IV, LP By: Cormorant Private Healthcare GP IV, LLC, its General Partner By: Bihua Chen, Managing Member
Signature date: 01 Oct 2025

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

MLTX transaction

Class A Ordinary Shares

Sale

Transaction value: $663,616
Shares: -70,748
Change %: -0.83%
Price: $9.38
Shares after: 8,423,403
Date: 29 Sep 2025
Ownership: See Footnotes
Footnotes: F1, F2, F3, F4

MLTX transaction

Class A Ordinary Shares

Sale

Transaction value: $1,952,664
Shares: -232,460
Change %: -2.8%
Price: $8.40
Shares after: 8,190,943
Date: 29 Sep 2025
Ownership: See Footnotes
Footnotes: F2, F3, F5, F6

MLTX transaction

Class A Ordinary Shares

Sale

Transaction value: $25,703,348
Shares: -3,390,943
Change %: -41%
Price: $7.58
Shares after: 4,800,000
Date: 29 Sep 2025
Ownership: See Footnotes
Footnotes: F2, F3, F7, F8

MLTX transaction

Class A Ordinary Shares

Sale

Transaction value: $18,508,000
Shares: -2,800,000
Change %: -58%
Price: $6.61
Shares after: 2,000,000
Date: 29 Sep 2025
Ownership: See Footnotes
Footnotes: F2, F3, F9, F10

MLTX transaction

Class A Ordinary Shares

Sale

Transaction value: $40,556
Shares: -5,827
Change %: -0.29%
Price: $6.96
Shares after: 1,994,173
Date: 30 Sep 2025
Ownership: See Footnotes
Footnotes: F2, F3, F11, F12

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Section 16 status

Bihua Chen is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.

Explanation of responses 12 footnotes

Footnote F1

Represents the weighted average sale price of Class A Ordinary Shares ("Shares") sold in a series of open market transactions on the transaction date at prices ranging from $9.25 to $9.43 per Share. The Reporting Persons undertake to provide, upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer, full information regarding the number of Shares sold at each price. All of these Shares were sold by the Master Fund (as defined below) , Fund II (as defined below), Fund III (as defined below), Fund IV (as defined below), and the Account (as defined below).

Footnote F2

Information reported herein relates to Shares owned by Cormorant Global Healthcare Master Fund, LP (the "Master Fund"), Cormorant Private Healthcare Fund II, LP ("Fund II"), Cormorant Private Healthcare Fund III, LP ("Fund III"), Cormorant Private Healthcare Fund IV, LP ("Fund IV") and a managed account (the "Account" and together with the Master Fund, Fund II, Fund III and Fund IV, the "Funds")). Cormorant Asset Management, LP ("Cormorant") serves as the investment manager of the Funds. Cormorant Global Healthcare GP, LLC ("GP LLC"), Cormorant Private Healthcare GP II, LLC ("GP II"), Cormorant Private Healthcare GP III, LLC ("GP III") and Cormorant Private Healthcare GP IV, LLC ("GP IV") serve as General Partner of the Master Fund, Fund II, Fund III and Fund IV, respectively. Bihua Chen serves as manager of Cormorant, GP LLC, GP II, GP III and GP IV.

Footnote F3

Each of the Reporting Persons disclaims beneficial ownership of the Shares reported herein except to the extent of its or her pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that any of the Reporting Persons is the beneficial owner of any such ordinary shares for purposes of Section 16(a) of the Securities Exchange Act of 1934 or for any other purpose.

Footnote F4

Represents (i) 2,690,183 Shares beneficially owned by the Master Fund, (ii) 1,787,722 Shares beneficially owned by Fund II, (iii) 2,433,441 Shares beneficially owned by Fund III, (iv) 1,487,507 Shares beneficially owned by Fund IV, and (v) 24,550 shares beneficially owned by the Account.

Footnote F5

Represents the weighted average sale price of Class A Ordinary Shares ("Shares") sold in a series of open market transactions on the transaction date at prices ranging from $8.20 to $9.02 per Share. The Reporting Persons undertake to provide, upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer, full information regarding the number of Shares sold at each price. All of these Shares were sold by the Master Fund, Fund II, Fund III, Fund IV, and the Account.

Footnote F6

Represents (i) 2,615,943 Shares beneficially owned by the Master Fund, (ii) 1,738,386 Shares beneficially owned by Fund II, (iii) 2,366,285 Shares beneficially owned by Fund III, (iv) 1,446,456 Shares beneficially owned by Fund IV, and (v) 23,873 shares beneficially owned by the Account.

Footnote F7

Represents the weighted average sale price of Class A Ordinary Shares ("Shares") sold in a series of open market transactions on the transaction date at prices ranging from $7.30 to $8.18 per Share. The Reporting Persons undertake to provide, upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer, full information regarding the number of Shares sold at each price. All of these Shares were sold by the Master Fund, Fund II, Fund III, Fund IV, and the Account.

Footnote F8

Represents (i) 1,532,978 Shares beneficially owned by the Master Fund, (ii) 1,018,717 Shares beneficially owned by Fund II, (iii) 1,386,674 Shares beneficially owned by Fund III, (iv) 847,642 Shares beneficially owned by Fund IV, and (v) 13,989 shares beneficially owned by the Account.

Footnote F9

Represents the weighted average sale price of Class A Ordinary Shares ("Shares") sold in a series of open market transactions on the transaction date at prices ranging from $6.20 to $7.04 per Share. The Reporting Persons undertake to provide, upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer, full information regarding the number of Shares sold at each price. All of these Shares were sold by the Master Fund, Fund II, Fund III, Fund IV, and the Account.

Footnote F10

Represents (i) 638,740 Shares beneficially owned by the Master Fund, (ii) 424,466 Shares beneficially owned by Fund II, (iii) 577,783 Shares beneficially owned by Fund III, (iv) 353,184 Shares beneficially owned by Fund IV, and (v) 5,827 shares beneficially owned by the Account.

Footnote F11

Represents the weighted average sale price of Class A Ordinary Shares ("Shares") sold in a series of open market transactions on the transaction date at prices ranging from $6.94 to $6.99 per Share. The Reporting Persons undertake to provide, upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer, full information regarding the number of Shares sold at each price. All of these Shares were sold by the Account.

Footnote F12

Represents (i) 638,740 Shares beneficially owned by the Master Fund, (ii) 424,466 Shares beneficially owned by Fund II, (iii) 577,783 Shares beneficially owned by Fund III, and (iv) 353,184 Shares beneficially owned by Fund IV.