Wed, May 14, 8:12 PM (40 days ago)
**Equillium, Inc. (EQ) - Q1 2025 Financial Summary** **Company Overview:** Equillium, Inc. is a clinical-stage biotechnology company focused on developing novel therapeutics for severe autoimmune and inflammatory disorders. The company's portfolio includes itolizumab (EQ001), EQ101, EQ102, and preclinical candidates EQ504 and EQ302. **Financial Performance (Q1 2025):** - **Revenue:** $0 (previous Q1 2024: $10.7 million) - **Net Loss:** $8.7 million (previous Q1 2024: $2.7 million) - **Cash and Cash Equivalents:** $14.5 million (previous Q1 2024: $18.09 million) **Key Financial Metrics:** - **Operating Expenses:** - Research and Development: $5.9 million (previous Q1 2024: $9.7 million) - General and Administrative: $2.9 million (previous Q1 2024: $3.7 million) - **Interest Income:** $173,000 (previous Q1 2024: $439,000) - **Other Income (Expense), net:** $43,000 (previous Q1 2024: -$382,000) **Operational Highlights:** - **Clinical Development:** The company paused its research and development activities pending capital raising. The ultimate success depends on raising capital in Q2 2025. - **Itolizumab (EQ001):** The company announced topline results from its Phase 3 EQUATOR study, which did not meet primary outcomes but showed clinically meaningful improvements in durable complete response. - **EQ504:** The company plans to initiate a first-in-human Phase 1 clinical study in Q1 2026, subject to raising additional capital. - **Financial Health:** The company has an accumulated deficit of $202.5 million and expects to incur additional losses to conduct research and development. **Future Operations Impact:** - **Capital Raising:** The company is actively pursuing sources of additional capital. Failure to raise capital may force the company to delay or eliminate research and development programs or pursue strategic alternatives. - **Operational Changes:** The company has implemented cost-saving initiatives, including eliminating certain positions and pausing patent prosecutions and renewals. - **Regulatory and Commercialization:** The company faces uncertainties in obtaining regulatory approvals and commercializing its product candidates due to competitive pressures and regulatory requirements. **Uncertainties and Risks:** - **Market Conditions:** The global credit and financial markets have experienced volatility due to public health epidemics, bank failures, tariffs, and inflationary pressures. - **Competitive Landscape:** The company faces significant competition from larger pharmaceutical and biotechnology companies with greater financial resources. - **Regulatory Risks:** The company may face delays or denials in regulatory approvals due to stringent requirements and competitive pressures. **Conclusion:** Equillium, Inc. is navigating a challenging financial and operational landscape, with significant dependencies on raising additional capital and navigating regulatory and competitive uncertainties. The company's strategic focus on developing novel therapeutics for severe autoimmune and inflammatory disorders remains, but its ability to execute on these plans is contingent on securing the necessary funding and regulatory approvals.