secwatch.observer — SEC 8-K summary
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Issuer:     Equillium, Inc. (EQ)
CIK:        0001746466
Form:       8-K
Filed at:   2023-11-08T23:59:59+00:00
Accession:  0000950170-23-061084
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1746466/000095017023061084/0000950170-23-061084-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1746466/000095017023061084/eq-20231106.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-061084

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