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Mar 31, 2021
Equillium Q1 2021 Earnings Report
Announced first quarter 2021 financial results and provided clinical development update
Key Takeaways
Equillium reported a net loss of $9.0 million, or $(0.33) per basic and diluted share, for the first quarter of 2021. Research and development expenses were $5.9 million, and general and administrative expenses were $2.8 million. Cash, cash equivalents and short-term investments totaled $104.1 million as of March 31, 2021.
Announced favorable data from Phase 1b EQUALISE study in patients with systemic lupus erythematosus.
Data showed favorable safety and tolerability results in systemic lupus erythematosus patients.
Completed a registered direct offering with Decheng Capital, which raised $29.9 million in net proceeds.
Cash runway extended into the second half of 2023.
Equillium
Equillium
Forward Guidance
Equillium anticipates multiple data and regulatory catalysts through the remainder of 2021.
Positive Outlook
- EQUATE Phase 1b study: topline data in first-line aGVHD, 1H 2021
- Regulatory feedback on proposed pivotal study in first-line aGVHD, mid-2021
- Initiate pivotal study in first-line aGVHD, 2H 2021
- EQUALISE Phase 1b study: interim data from Type B patients (lupus nephritis), 2H 2021
- EQUIP Phase 1b study: topline data in uncontrolled asthma, 2H 2021
Challenges Ahead
- uncertainties related to the abilities of new leadership team members to integrate and perform as expected
- Equillium’s ability to execute its plans and strategies
- risks related to performing clinical studies
- potential delays in the commencement, enrollment and completion of clinical studies and the reporting of data therefrom
- changes in the competitive landscape