MoonLake Immunotherapeutics has an amended Schedule 13G filing reporting that Deep Track Capital, LP, Deep Track Biotechnology Master Fund, Ltd., and David Kroin collectively beneficially own 7,999,025 Class A ordinary shares of MoonLake Immunotherapeutics. This represents 9.74% of the Class A ordinary shares, based on 82,134,066 shares, which include 81,134,066 common shares outstanding as of June 24, 2026 and 1,000,000 common shares issuable upon exercise of Pre-Funded Warrants held by the reporting persons. All 7,999,025 shares are reported with shared voting and dispositive power and no sole power. The Pre-Funded Warrants are exercisable into common stock but are subject to a 9.99% "Maximum Percentage" limitation, preventing exercises that would increase the holders’ beneficial ownership above 9.99% of the outstanding common stock immediately after any such exercise.
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Key Figures
Beneficially owned shares:7,999,025 sharesOwnership percentage:9.74%Shares outstanding base:82,134,066 shares+4 more
7 metrics
Beneficially owned shares7,999,025 sharesClass A ordinary shares beneficially owned by the reporting persons as of June 30, 2026
Ownership percentage9.74%Percent of MoonLake Immunotherapeutics Class A ordinary shares beneficially owned
Shares outstanding base82,134,066 sharesBase used to calculate ownership percentage, including common stock and Pre-Funded Warrant shares
Common stock outstanding81,134,066 sharesCommon stock outstanding as of June 24, 2026 from issuer’s prospectus
Pre-Funded Warrants1,000,000 warrantsPre-Funded Warrants held by the reporting persons, exercisable into common shares
Maximum Percentage limit9.99%Ownership cap restricting warrant exercises above 9.99% beneficial ownership
Shared voting power7,999,025 sharesShares over which the reporting persons have shared voting and dispositive power
Key Terms
beneficially owned, Pre-Funded Warrants, Maximum Percentage, parent holding company, +1 more
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
Pre-Funded Warrantsfinancial
"The beneficially owned shares include 1,000,000 Pre-Funded Warrants exercisable to common shares"
Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.
Maximum Percentagefinancial
"subject to a 9.99% Maximum Percentage exercise limitation"
parent holding companyregulatory
"Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company"
shared dispositive powerfinancial
"Shared Dispositive Power 7,999,025.00"
FAQ
What percentage of MoonLake Immunotherapeutics (MLTX) shares does Deep Track Capital report owning?
Deep Track Capital and related reporting persons collectively report beneficial ownership of 9.74% of MoonLake Immunotherapeutics Class A ordinary shares. This is based on 82,134,066 shares, including common stock outstanding and shares issuable from Pre-Funded Warrants.
How many MoonLake Immunotherapeutics (MLTX) shares are beneficially owned by Deep Track Capital?
The reporting persons state they beneficially own 7,999,025 Class A ordinary shares of MoonLake Immunotherapeutics. This total includes 1,000,000 shares issuable upon exercise of Pre-Funded Warrants held by the reporting persons, subject to ownership limits.
What is the Maximum Percentage ownership limit in the MoonLake (MLTX) Deep Track filing?
The filing specifies a 9.99% "Maximum Percentage" ownership limit tied to the Pre-Funded Warrants. The issuer will not effect any warrant exercise that would cause the holder collectively to beneficially own more than 9.99% of outstanding common stock after exercise.
How is the share count base for Deep Track’s 9.74% stake in MoonLake (MLTX) calculated?
The 9.74% ownership is calculated using a base of 82,134,066 shares. This consists of 81,134,066 common shares outstanding as of June 24, 2026, plus 1,000,000 common shares issuable upon exercise of Pre-Funded Warrants held by the reporting persons.
Do the Deep Track reporting persons have sole or shared voting power over MoonLake (MLTX) shares?
The reporting persons disclose 0 shares with sole voting or dispositive power and 7,999,025 shares with shared voting and shared dispositive power. This means all reported MoonLake Immunotherapeutics shares are controlled jointly rather than individually.
Who are the reporting persons in the amended Schedule 13G/A for MoonLake Immunotherapeutics (MLTX)?
The reporting persons are Deep Track Capital, LP, Deep Track Biotechnology Master Fund, Ltd., and David Kroin. Deep Track Capital, LP is identified as the relevant entity for which David Kroin may be considered a control person under the ownership disclosure.
(i) Delaware
(ii) Cayman Islands
(iii) United States
(d)
Title of class of securities:
Class A ordinary share, par value $0.0001 per share
(e)
CUSIP No.:
61559X104
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
7,999,025
(b)
Percent of class:
9.74%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0
(ii) Shared power to vote or to direct the vote:
7,999,025
(iii) Sole power to dispose or to direct the disposition of:
0
(iv) Shared power to dispose or to direct the disposition of:
7,999,025
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
Deep Track Capital, LP is the relevant entity for which David Kroin may be considered a control person.
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Deep Track Capital, LP
Signature:
/s/ David Kroin
Name/Title:
David Kroin, Managing Member of the General Partner of the Investment Adviser
Date:
08/14/2026
Deep Track Biotechnology Master Fund, Ltd.
Signature:
/s/ David Kroin
Name/Title:
David Kroin, Director
Date:
08/14/2026
David Kroin
Signature:
/s/ David Kroin
Name/Title:
David Kroin
Date:
08/14/2026
Exhibit Information
Item 4: Information with respect to the Reporting Persons' ownership of the Common Stock as of June 30, 2026, is incorporated by reference to items (5) - (9) and (11) of the cover page of the respective Reporting Person.
The amount beneficially owned by each Reporting Person is determined using 82,134,066 shares, calculated using 81,134,066 Common Stock outstanding as of June 24, 2026, according to the issuer's Prospectus filed with the SEC on June 24, 2026 and 1,000,000 Pre-Funded Warrants that would be converted to Common Stock by the Reporting Person up to the Maximum Percentage.
The beneficially owned shares include 1,000,000 Pre-Funded Warrants exercisable to common shares, subject to a 9.99% Maximum Percentage exercise limitation. The Issuer shall not effect the exercise of any portion of the Pre-Funded Warrants, to the extent that after giving effect to such exercise, the holder collectively would beneficially own in excess of 9.99% (the "Maximum Percentage") of the number of Common Stock outstanding immediately after giving effect to such exercise.
JOINT FILING STATEMENT
PURSUANT TO RULE 13d-1(k)
The undersigned acknowledge and agree that the foregoing statement on SCHEDULE 13G, is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on SCHEDULE 13G, shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.
Dated: August 14, 2026
Deep Track Capital, LP
By: /s/ David Kroin
David Kroin, Managing Member of the General Partner of the Investment Adviser
Deep Track Biotechnology Master Fund, Ltd.
By: /s/ David Kroin
David Kroin, Director
David Kroin
By: /s/ David Kroin
David Kroin
