Equillium Q3 net loss narrows to $3.7M; lupus trial meets endpoints

Equillium, Inc.

2023-Q3 EPS reported -$0.32 revenue$26,873,000

Net loss $3.7M ($0.11 per share) vs $13.7M loss in Q3 2022, driven by $8.9M revenue from Ono partnership.
Cash $46.3M provides runway into 2025; net cash used in ops only $1.9M in Q3.
EQUALISE lupus nephritis data: 73% median UPCR reduction at Week 28; 40% CR, 33% PR; safety favorable.
Ono option decision triggered by data deliverables in early 2024; exercise would bring ~$33M payment.
EQ101 alopecia areata fully enrolled; initial data expected Q4 2023; EQ102 SAD/MAD data also Q4.

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