Equillium Q1 net loss narrows to $3.9M; cash $62M funds into 2025; Ono partnership revenue $8.9M

Equillium, Inc.

2023-Q1 EPS reported -$0.11 revenue$8,879,000

Net loss of $3.9M ($0.11 per share) vs $37.4M loss in Q1 2022; decrease due to Ono revenue and no Bioniz acquisition costs.
Cash, cash equivalents and short-term investments $62.0M as of March 31, 2023, expected to fund operations into 2025.
Revenue of $8.9M from itolizumab development funding and amortization of upfront from Ono partnership.
Clinical milestones: EQ101 Phase 2 alopecia areata initial data 2H 2023; itolizumab EQUALISE lupus nephritis topline data 1H 2024; EQUATOR aGVHD interim review 2024.
Ono option exercise payment of ~$37M (5 billion yen) if exercised, would significantly extend cash runway.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Equillium, Inc. reported the first quarter ended March 31, 2023 results: revenue $8.9 million, net income $3.9 million, EPS $(0.11) per basic and diluted share.

Period: the first quarter ended March 31, 2023
Revenue: $8.9 million
Net income: $3.9 million
EPS: $(0.11) per basic and diluted share
Result: reported results

Exact text from the filing

nephritis topline data anticipated in 1H 2024, EQUATOR aGVHD interim review anticipated in 2024 First Quarter 2023 Financial Results Revenue for the first quarter of 2023 was $8.9 million and was derived from itolizumab development funding from Ono Pharmaceutical Co, Ltd. (Ono) and amortization of the upfront payment from Ono. Research and development (R&D)

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Source: SEC EDGAR

accession 0000950170-23-021215

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