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Dec 31, 2023
Equillium Q4 2023 Earnings Report
Equillium reported financial results for the fourth quarter and full year 2023 and provided corporate and clinical highlights.
Key Takeaways
Equillium reported a revenue of $9.2 million for Q4 2023, compared to $15.8 million for the same period in 2022. Net loss for the quarter was $2.3 million, or $(0.07) per basic and diluted share, compared with net income of $2.8 million, or $0.08 per basic and diluted share for the same period in 2022. The company's cash balance at the end of 2023 was $40.9 million, expected to provide cash runway into 2H 2025.
Presented positive data from the Phase 1b EQUALISE study of itolizumab in lupus nephritis patients at ASN and ACR meetings.
Completed enrollment of Phase 2 clinical study of EQ101 in alopecia areata with topline data expected in Q2 2024.
Announced a presentation highlighting EQ302, a first-in-class, second generation, orally deliverable multi-cytokine inhibitor targeting IL-15 and IL-21.
Ono Pharmaceutical option exercise decision for itolizumab expected in 2H 2024.
Forward Guidance
Equillium anticipates several milestones, including topline data from the Phase 2 clinical study of EQ101 in alopecia areata in Q2 2024, EQUALISE lupus nephritis topline data to Ono anticipated in the coming weeks, EQUATOR acute graft-versus-host disease interim review anticipated in Q3 2024 and Ono option exercise decision anticipated in 2H 2024
Positive Outlook
- EQ101: Phase 2 clinical study in subjects with moderate to severe alopecia areata – topline data anticipated in Q2 2024
- Itolizumab: EQUALISE lupus nephritis topline data to Ono anticipated in the coming weeks
- Itolizumab: EQUATOR acute graft-versus-host disease interim review anticipated in Q3 2024
- Ono option exercise decision anticipated in 2H 2024
Historical Earnings Impact
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