Estados financieros detallados de MoonLake Immunotherapeutics (MLTX): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
Márgenes de los últimos 12 meses: margen bruto 0.0%, margen operativo 0.0%, margen neto 0.0%.
Al precio actual de $12.46, MLTX presenta beneficios negativos (P/E no significativo) y un ROE del -82.68%. La capitalización bursátil es de $1.0B.
Cuenta de Resultados (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | 0 | 0 | 0 | 0 | 0 | 0 |
| Coste de Ventas | 0 | $4971 | 0 | 0 | 0 | $2.6M |
| Beneficio Bruto | 0 | -$4971 | 0 | 0 | 0 | -$2.6M |
| I+D | 0 | $35.5M | $42.0M | $31.8M | $112.8M | $202.9M |
| Generales y Administrativos | $105755 | $18.0M | $23.0M | $22.3M | $30.3M | $42.0M |
| Gastos Operativos | $105755 | $53.6M | $65.1M | $54.1M | $143.1M | $242.2M |
| Beneficio Operativo | -$105755 | -$53.6M | -$65.1M | -$54.1M | -$143.1M | -$244.8M |
| EBITDA | -$90838 | -$53.6M | -$64.3M | -$43.6M | -$119.6M | -$219.8M |
| Gastos por Intereses | 0 | 0 | 0 | 0 | 0 | $7.2M |
| Beneficio Antes de Impuestos | -$90838 | -$53.6M | -$64.5M | -$44.0M | -$121.0M | -$229.7M |
| Impuestos | 0 | $4755 | $36366 | $94388 | $282199 | $611000 |
| Beneficio Neto | -$90838 | -$53.6M | -$50.0M | -$36.0M | -$118.9M | -$227.3M |
| BPA | $-0.01 | $-1.45 | $-1.70 | $-0.73 | $-1.89 | $-3.53 |
| BPA Diluido | $-0.01 | $-1.45 | $-1.70 | $-0.73 | $-1.89 | $-3.53 |
| Acciones en Circulación (Diluidas) | $14.8M | $36.9M | $29.4M | $49.1M | $62.9M | $64.5M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | 0 | 0 | 0 | 0 |
| Beneficio Bruto | 0 | -$751000 | -$845000 | 0 |
| Beneficio Operativo | -$71.4M | -$65.2M | -$70.0M | -$61.7M |
| EBITDA | -$66.6M | -$60.0M | -$66.0M | -$58.2M |
| Beneficio Neto | -$69.7M | -$62.4M | -$69.7M | -$61.8M |
| BPA | $-1.10 | $-0.93 | $-0.98 | $-0.84 |
| BPA Diluido | $-1.10 | $-0.93 | $-0.98 | $-0.84 |
Balance (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $1.3M | $8.0M | $39.5M | $451.2M | $180.4M | $334.5M |
| Inversiones a Corto | 0 | 0 | $32.6M | $59.8M | $267.6M | $59.5M |
| Cuentas por Cobrar | 0 | $148774 | $217129 | $1.1M | $2.8M | $4.9M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $1.6M | $9.6M | $76.5M | $514.2M | $474.3M | $421.7M |
| Inmovilizado Material | 0 | $45739 | $331969 | $3.9M | $3.6M | $2.1M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $116.6M | $9.7M | $76.8M | $526.5M | $477.9M | $424.4M |
| Cuentas por Pagar | 0 | $1.2M | $47480 | $1.5M | $8.7M | 0 |
| Deuda a Corto | $58063 | $15.0M | 0 | 0 | 0 | $1.2M |
| Pasivos Corrientes | $125182 | $21.1M | $7.7M | $10.0M | $22.5M | $45.5M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | $74.5M |
| Pasivos Totales | $4.2M | $21.3M | $8.1M | $13.0M | $24.5M | $120.0M |
| Reservas | -$2.5M | -$53.6M | -$80.7M | -$116.7M | -$235.6M | -$462.9M |
| Patrimonio Neto | $112.5M | -$11.6M | $48.9M | $495.7M | $446.8M | $304.5M |
| Deuda Total | $58063 | $15.0M | $282580 | $3.7M | $2.8M | $75.7M |
| Deuda Neta | -$1.3M | $7.0M | -$71.8M | -$507.3M | -$445.2M | -$318.3M |
| Capital Circulante | $1.5M | -$11.5M | $68.8M | $504.2M | $451.8M | $376.2M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $350.7M | $334.5M | $298.5M | $477.9M |
| Activos Totales | $414.3M | $424.4M | $400.4M | $573.9M |
| Pasivos Totales | $123.1M | $120.0M | $146.3M | $145.8M |
| Patrimonio Neto | $288.9M | $304.5M | $254.0M | $428.2M |
| Deuda Total | $75.7M | $75.7M | $100.8M | $101.5M |
Flujo de Caja (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$90838 | -$53.6M | -$64.5M | -$44.1M | -$121.2M | -$229.1M |
| Amortizaciones | 0 | $5965 | $164783 | $370000 | $1.4M | $2.6M |
| Compensación en Acciones | 0 | $10.9M | $9.7M | $7.1M | $7.3M | $12.9M |
| Cambio en Capital Circulante | -$215937 | $4.5M | -$1.6M | -$6.2M | -$3.8M | $19.9M |
| Flujo de Caja Operativo | -$316692 | -$35.2M | -$55.9M | -$42.8M | -$116.6M | -$196.0M |
| Inversiones (CapEx) | 0 | -$50706 | -$16009 | -$284000 | -$519520 | -$35000 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | -$6202 | 0 | 0 | -$50 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$316692 | -$35.2M | -$55.9M | -$43.1M | -$117.1M | -$196.0M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$44.5M | -$58.8M | -$66.3M | -$55.6M |
| Inversiones (CapEx) | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$44.5M | -$58.8M | -$66.3M | -$55.6M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $3.7M | $3.6M | $13.4M | $2.5M |
Crecimiento y Márgenes (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Beneficio Neto (anual) | | -58954.2% | +6.8% | +27.9% | -230.3% | -91.1% |
| Crecimiento BPA (anual) | | -23670.5% | -17.2% | +57.1% | -158.9% | -86.8% |
| Cambio en Acciones (anual) | | +149.4% | -20.5% | +67.3% | +28.0% | +2.5% |
| Crecimiento FCF (anual) | | -11023.1% | -58.7% | +23.0% | -171.9% | -67.4% |
| Tasa Impositiva Efectiva | -0.0% | -0.0% | -0.1% | -0.2% | -0.2% | -0.3% |
Datos por Acción (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.02 | $-0.95 | $-1.90 | $-0.88 | $-1.86 | $-3.04 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $14.8M | $36.9M | $29.4M | $49.1M | $62.9M | $64.5M |
Qué mirar en Biotech
La mayoría de biotechs pequeñas pierden dinero. Analizarlas con P/E no tiene sentido — mira caja y pipeline.
- Cash Runway — Meses de caja al ritmo de gasto actual. <18 meses = riesgo de dilución urgente
- Cash burn anual — Ritmo al que queman caja operativa. Comparar con posición de caja para proyectar runway
- Total Debt — Biotech sin ingresos + deuda = receta para bancarrota
- I+D / Capitalización — Cuánto invierten en pipeline vs lo que vale la empresa — indicador de intensidad investigadora
- Market cap / Cash — Si cotiza cerca de su caja, el mercado le da ~0 valor al pipeline — puede ser oportunidad o trampa
Rentabilidad
| Rentabilidad sobre capital | -82.68% |
| Rentabilidad sobre capital invertido | -50.65% |
| Rentabilidad sobre activos | -45.94% |
| Margen bruto | 0.00% |
| Margen operativo | 0.00% |
| Margen neto | 0.00% |
Salud financiera
| Deuda / Patrimonio | 0.24 |
| Ratio corriente | 12.56 |
Ratios Clave (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -1863.93 | -6.82 | -6.18 | -82.73 | -28.65 | -3.73 |
| P/VC | 1.50 | -31.36 | 6.30 | 5.98 | 7.62 | 2.79 |
| P/V | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Margen Bruto | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Margen Operativo | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Margen Neto | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |