secwatch.observer — SEC 8-K summary
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Issuer:     Equillium, Inc. (EQ)
CIK:        0001746466
Form:       8-K
Filed at:   2023-05-11T23:59:59+00:00
Accession:  0000950170-23-021215
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1746466/000095017023021215/0000950170-23-021215-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1746466/000095017023021215/eq-20230511.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-021215

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer