BIOTECHNOLOGY VALUE FUND L P 4
4 · MoonLake Immunotherapeutics · Filed Jun 22, 2026
Research Summary
AI-generated summary of this filing
MoonLake (MLTX) 10% Owner BVF Partners Receives 22,195-Share Option Award
What Happened
BVF Partners L.P., part of a Section 13(d) group that owns >10% of MoonLake Immunotherapeutics (MLTX), was granted a derivative award on June 17, 2026: an option/award representing the right to acquire 22,195 Class A ordinary shares of the company. The reported exercise/acquisition price is $0.00, so no cash was paid at grant and no immediate sale/purchase of common shares occurred.
Key Details
- Transaction date: June 17, 2026; Form 4 filed June 22, 2026 (filed 5 calendar / 3 business days after the transaction — late filing).
- Transaction type/code: A (Grant / award or other acquisition); derivative instrument representing 22,195 shares.
- Price/strike: $0.00 per share (as reported). Reported total immediate cash value: $0.
- Vesting/conditions: Footnote F5 states the option vests in full upon the earlier of (i) June 17, 2027 or (ii) the issuer’s next annual general meeting, subject to Spike Loy’s continued service.
- Shares owned after transaction: not specified in the filing.
- Filing parties and ownership: The Form 4 is filed jointly by multiple affiliated entities (Biotechnology Value Fund, BVF2, Trading Fund OS, BVF Partners L.P., BVF Inc., Mark N. Lampert, etc.) that make up a >10% Section 13(d) group (see footnotes F1–F4).
- Related arrangement: Footnote F9 notes an agreement under which Spike Loy (a Managing Director of Partners and a MoonLake director) must transfer any economic benefit from these shares to Partners; Loy disclaims beneficial ownership except for any pecuniary interest.
Context
This is a derivative grant (an award of a right to acquire shares) rather than an open-market buy or sale. For retail investors, awards like this are typically compensation or retention tools for affiliates/board members and do not reflect an immediate cash purchase that signals a personal directional bet. Also note this transaction was reported by a 10% institutional owner and affiliated parties rather than a single executive; the filing was submitted late by several business days.
Insider Transaction Report
Form 4
BVF PARTNERS L P/IL
Director10% Owner
Transactions
- Award
Option to Buy
[F1][F5][F9]2026-06-17+22,195→ 22,195 total(indirect: See footnote)Exercise: $19.19Exp: 2036-06-17→ Class A Ordinary Shares, $0.0001 par value (22,195 underlying)
Holdings
- 8,302,735
Class A Ordinary Shares, $0.0001 par value
[F1][F2] - 6,599,722
Class A Ordinary Shares, $0.0001 par value
[F1][F3] - 1,039,238
Class A Ordinary Shares, $0.0001 par value
[F1][F4] - 6,682(indirect: See footnote)
Option to Buy
[F1][F6][F9]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][F7][F9]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][F8][F9]Exercise: $29.18Exp: 2033-06-08→ Class A Ordinary Shares, $0.0001 par value (11,297 underlying)
Footnotes (9)
- [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 22,195 Class A Ordinary Shares of the Issuer, which will vest in full the earlier of (i) June 17, 2027 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 6,682 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 7,688 Class A Ordinary Shares of the Issuer. This option has fully vested as of the date hereof.
- [F8]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.
- [F9]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.