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Mar 31, 2022
Equillium Q1 2022 Earnings Report
Equillium reported financial results for Q1 2022 and provided corporate development and clinical program updates.
Key Takeaways
Equillium reported a net loss of $37.4 million, or $(1.17) per basic and diluted share, for the first quarter of 2022. The company's cash, cash equivalents, and short-term investments totaled $68.8 million as of March 31, 2022. They also acquired Bioniz Therapeutics, adding two clinical-stage assets to their pipeline.
Initiated Phase 3 EQUATOR study of itolizumab in first-line aGVHD.
Acquired Bioniz Therapeutics, adding two first-in-class clinical-stage assets to pipeline and proprietary product discovery platform.
R&D expenses for the first quarter of 2022 were $10.8 million, compared with $5.9 million for the same period in 2021.
Acquired in-process research and development expenses for the first quarter of 2022 were $23.0 million resulting from the accounting for the Bioniz acquisition.
Forward Guidance
Equillium anticipates several upcoming milestones and catalysts, including interim data from the EQUALISE Phase 1b study of itolizumab in patients with lupus nephritis expected mid-2022, and initiation of Phase 2 study of EQ101 in alopecia areata and Phase 1 study of EQ102 in normal healthy volunteers and celiac disease patients, both expected in 2H 2022.
Positive Outlook
- Interim data from the Type B part of the EQUALISE study in patients with lupus nephritis expected mid-2022
- Phase 2 study in alopecia areata initiation expected 2H 2022
- Phase 1 study initiation expected in 2H 2022, anticipated to include normal healthy volunteers and celiac disease patients
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