Equillium Q1 revenue $10.7M, net loss $2.7M; positive lupus data, milestones ahead

Equillium, Inc.

2024-Q1 EPS reported -$0.08 revenue$10,689,000

Revenue of $10.7M, up from $8.9M YoY, all from Ono partnership (development funding and amortization).
Net loss narrowed to $2.7M ($0.08 loss per share) vs $3.9M ($0.11) in Q1 2023.
Cash, cash equivalents and short-term investments $32.3M as of March 31, 2024; runway into 2H 2025.
Positive topline data from Phase 1b EQUALISE study of itolizumab in lupus nephritis announced in early April.
Upcoming: EQ101 Phase 2 alopecia areata topline data Q2 2024; EQUATOR interim review Q3 2024; Ono option exercise decision 2H 2024 (potential ~$32M payment).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Equillium, Inc. reported the first quarter ended March 31, 2024 results: revenue $10.7 million, net income $2.7 million, EPS $(0.08) per basic and diluted share.

Period: the first quarter ended March 31, 2024
Revenue: $10.7 million
Net income: $2.7 million
EPS: $(0.08) per basic and diluted share
Result: reported results

Exact text from the filing

1 Option exercise payment is denominated in Japanese yen (5 billion) and subject to currency exchange rates at the time of payment. Revenue for the first quarter of 2024 was $10.7 million, compared to $8.9 million during the same period in 2023. Revenue in the first quarters of 2024 and 2023 consisted entirely of itolizumab development funding and amortization of

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Source: SEC EDGAR

accession 0000950170-24-056890

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