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Jun 30, 2023
Equillium Q2 2023 Earnings Report
Reported financial results for the second quarter of 2023 and provided corporate and clinical development updates.
Key Takeaways
Equillium reported revenue of $9.1 million for Q2 2023, derived from itolizumab development funding from Ono Pharmaceutical Co, Ltd, and a net loss of $3.3 million, or $(0.10) per basic and diluted share. The company's cash, cash equivalents, and short-term investments totaled $48.4 million as of June 30, 2023, expected to fund operations into 2025.
Revenue for Q2 2023 was $9.1 million, derived from itolizumab development funding from Ono Pharmaceutical Co, Ltd.
Net loss for Q2 2023 was $3.3 million, or $(0.10) per basic and diluted share.
Cash, cash equivalents, and short-term investments totaled $48.4 million as of June 30, 2023.
The company prepaid and retired its debt facility and authorized a $7.5 million stock repurchase program.
Forward Guidance
Equillium believes that its cash, cash equivalents and short-term investments as of June 30, 2023, including after giving effect to its stock repurchase program, will be sufficient to fund its operations into 2025.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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