Equillium Q2 2020 Earnings Report
Key Takeaways
Equillium reported a net loss of $6.5 million for Q2 2020, or $(0.37) per basic and diluted share. The company held $42.6 million in cash, cash equivalents, and short-term investments as of June 30, 2020.
Reported positive interim data from EQUATE clinical trial of itolizumab as a first line therapy for patients with aGVHD – 71% of patients treated to date achieved a complete response at Day 29
Shared encouraging topline results as reported by Biocon from their randomized, controlled open label clinical trial conducted in India showing itolizumab (ALZUMAb) reduced mortality over one month as compared to placebo in patients hospitalized with COVID-19.
Submitted a pre-investigational new drug (pre-IND) meeting request and supporting briefing package to the U.S. Food and Drug Administration (FDA) to study itolizumab in hospitalized patients with COVID-19
Strengthened the balance sheet by raising a total of approximately $17.9 million in gross proceeds subsequent to the end of the second quarter 2020
Equillium
Equillium
Forward Guidance
Equillium is initiating a global trial of itolizumab in hospitalized patients with COVID-19 and advancing ongoing EQUATE, EQUIP and EQUALISE trials.
Positive Outlook
- Initiation of a global trial of itolizumab in hospitalized patients with COVID-19
- Advancing ongoing EQUATE trial
- Advancing ongoing EQUIP trial
- Advancing ongoing EQUALISE trials