secwatch.observer — SEC 8-K summary
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Issuer:     Equillium, Inc. (EQ)
CIK:        0001746466
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0000950170-24-056890
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1746466/000095017024056890/0000950170-24-056890-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1746466/000095017024056890/eq-20240509.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-056890

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