BIOTECHNOLOGY VALUE FUND L P 4
4 · MoonLake Immunotherapeutics · Filed Apr 2, 2026
Research Summary
AI-generated summary of this filing
MoonLake (MLTX) 10% Owner BVF Partners Sells Shares
What Happened
- BVF Partners L.P. (part of a group that owns more than 10% of MoonLake Immunotherapeutics, ticker MLTX) reported three open-market/private sales on 2026-03-31. The disposals totaled 3,750,000 shares (1,932,354; 1,569,116; 248,530) at $16.79 per share, for an aggregate proceeds of $62,962,501. Transaction code: S = Sale.
- This filing documents sales by an institutional 10%+ holder (not an individual executive). Sales are disposals of existing stock rather than purchases or option exercises.
Key Details
- Transaction date and price: 2026-03-31, all reported at $16.79 per share.
- Shares sold: 3,750,000 total (three separate dispositions). Total value: $62,962,501.
- Shares owned after transaction: Not specified in the provided filing excerpt; filing notes the reporting persons collectively own more than 10% of common stock.
- Footnotes: Joint filing by multiple BVF entities and individuals (see F1–F4); disclaimers that many reporting persons disclaim beneficial ownership except to the extent of pecuniary interest. Footnote F8 and the Remarks note an agreement involving director Spike Loy that may create a pecuniary interest for Partners, BVF Inc. and Mark N. Lampert.
- Filing timeliness: Form filed 2026-04-02 for trades on 2026-03-31; no late-filing flag noted in the provided data.
Context
- Institutional sales by a 10% holder are often portfolio or fund-level transactions and do not directly indicate insider sentiment about company fundamentals.
- Transaction code S = sale (disposition). No options exercised, awards granted, or gifts reported in these transactions.
Insider Transaction Report
Form 4
BVF PARTNERS L P/IL
Director10% Owner
Transactions
- Sale
Class A Ordinary Shares, $0.0001 par value
[F1][F2]2026-03-31$16.79/sh−1,932,354$32,444,224→ 8,302,735 total - Sale
Class A Ordinary Shares, $0.0001 par value
[F1][F3]2026-03-31$16.79/sh−1,569,116$26,345,458→ 6,599,722 total - Sale
Class A Ordinary Shares, $0.0001 par value
[F1][F4]2026-03-31$16.79/sh−248,530$4,172,819→ 1,039,238 total
Holdings
- 6,682(indirect: See footnote)
Option to Buy
[F1][F5][F8]Exercise: $48.83Exp: 2035-06-05→ Class A Ordinary Shares, $0.0001 par value (6,682 underlying) - 7,688(indirect: See footnote)
Option to Buy
[F1][F6][F8]Exercise: $42.44Exp: 2034-06-06→ Class A Ordinary Shares, $0.0001 par value (7,688 underlying) - 11,297(indirect: See footnote)
Option to Buy
[F1][F7][F8]Exercise: $29.18Exp: 2033-06-08→ Class A Ordinary Shares, $0.0001 par value (11,297 underlying)
Footnotes (8)
- [F1]This Form 4 is filed jointly by Biotechnology Value Fund, L.P. ("BVF"), Biotechnology Value Fund II, L.P. ("BVF2"), Biotechnology Value Trading Fund OS LP ("Trading Fund OS"), BVF Partners OS Ltd. ("Partners OS"), BVF I GP LLC ("BVF GP"), BVF II GP LLC ("BVF2 GP"), BVF GP Holdings LLC ("BVF GPH"), BVF Partners L.P. ("Partners"), BVF Inc. and Mark N. Lampert (collectively, the "Reporting Persons"). Each of the Reporting Persons is a member of a Section 13(d) group that collectively owns more than 10% of the Issuer's outstanding shares of Common Stock. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.
- [F2]Securities owned directly by BVF. As the general partner of BVF, BVF GP may be deemed to beneficially own the securities owned directly by BVF. As the sole member of BVF GP, BVF GPH may be deemed to beneficially own the securities owned directly by BVF. As the investment manager of BVF, Partners may be deemed to beneficially own the securities owned directly by BVF. As the general parter of Partners, BVF Inc. may be deemed to beneficially own the securities owned directly by BVF. As a director and officer of BVF Inc., Mr. Lampert may be deemed to beneficially own the securities owned directly by BVF.
- [F3]Securities owned directly by BVF2. As the general partner of BVF2, BVF2 GP may be deemed to beneficially own the securities owned directly by BVF2. As the sole member of BVF2 GP, BVF GPH may be deemed to beneficially own the securities owned directly by BVF2. As the investment manager of BVF2, Partners may be deemed to beneficially own the securities owned directly by BVF2. As the general partner of Partners, BVF Inc. may be deemed to beneficially own the securities owned directly by BVF2. As a director and officer of BVF Inc., Mr. Lampert may be deemed to beneficially own the securities owned directly by BVF2.
- [F4]Securities owned directly by Trading Fund OS. As the general partner of Trading Fund OS, Partners OS may be deemed to beneficially own the securities owned directly by Trading Fund OS. As the investment manager of Trading Fund OS and the sole member of Partners OS, Partners may be deemed to beneficially own the securities owned directly by Trading Fund OS. As the general partner of Partners, BVF Inc. may be deemed to beneficially own the securities owned directly by Trading Fund OS. As a director and officer of BVF Inc., Mr. Lampert may be deemed to beneficially own the securities owned directly by Trading Fund OS.
- [F5]This option represents a right to purchase a total of 6,682 Class A Ordinary Shares of the Issuer, which will vest in full the earlier of (i) June 5, 2026 and (ii) the date of the Issuer's next annual general meeting of shareholders, subject to Spike Loy's continued service to the Issuer.
- [F6]This option represents a right to purchase a total of 7,688 Class A Ordinary Shares of the Issuer. This option has fully vested as of the date hereof.
- [F7]This option represents a right to purchase a total of 11,297 Class A Ordinary Shares of the Issuer. This option has fully vested as of the date hereof.
- [F8]Partners, BVF Inc. and Mr. Lampert may be deemed to have a pecuniary interest in the securities reported owned herein due to a certain agreement between Partners and Spike Loy, who serves on the Issuer's board of directors and as a Managing Director of Partners, pursuant to which Mr. Loy is obligated to transfer the economic benefit, if any, received upon the sale of the shares issuable upon exercise of the securities reported owned herein to Partners. As such, Mr. Loy disclaims beneficial ownership of the securities reported herein except to the extent of his pecuniary interest therein.