NASDAQ$EQ
Equillium Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Reported first quarter 2024 financial results and provided recent clinical highlights.
Equillium reported revenue of $10.7 million and a net loss of $2.7 million for the first quarter of 2024. The company's cash balance was $32.3 million as of March 31, 2024, expected to provide cash runway into 2H 2025.
- Announced positive topline data from Phase 1b EQUALISE study of itolizumab in lupus nephritis patients.
- Completed enrollment in Phase 2 study of EQ101 for the treatment of moderate to severe alopecia areata.
- Expect to announce results of the interim review of Phase 3 EQUATOR study of itolizumab in patients with acute graft-versus-host disease in Q3 2024.
- Ono's option exercise decision for itolizumab is anticipated in 2H 2024.
Headline financials
Revenue & EPS history
Equillium · Revenue · Quarterly
$10.7M
Forward guidance
Equillium anticipates several milestones in 2024, including topline data from the EQ101 Phase 2 study in alopecia areata, the interim review of the EQUATOR Phase 3 study of itolizumab in acute graft-versus-host disease, and Ono's option exercise decision for itolizumab.
Tailwinds
- Positive topline data from Phase 1b EQUALISE study of itolizumab in lupus nephritis patients.
- Completion of enrollment in Phase 2 study of EQ101 for the treatment of moderate to severe alopecia areata.
- Potential exercise payment of approximately $321 million from Ono if they exercise their option to acquire rights to itolizumab.
- Additional milestone payments of approximately $101 million eligible to be received if Ono exercises their option.
- Cash balance expected to fund operations into the second half of 2025.
Headwinds
- Risks related to Ono's financial condition and decision to exercise its option.
- Uncertainties related to Equillium's capital requirements.
- Risk of having to use cash in ways or on timing other than expected.
- Impact of market volatility on cash reserves.
- Dependence on successful clinical trial outcomes and regulatory approvals.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2024
+1.0%
Avg return
Earnings day
-0.2%
Avg return
5 days after
-1.3%
Avg return
30 days after
55%
17 / 31 earnings
Positive
+42.0%
Q3 2020
Best reaction
-27.0%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | +1.8% | -18.9% | — | |
| Q3 2025 | +23.8% | +20.2% | +52.4% | |
| Q2 2025 | +16.3% | +16.3% | +90.8% | |
| Q1 2025 | +5.4% | +5.4% | -5.4% | |
| Q1 2026 | +5.4% | +5.4% | -5.4% | |
| Q4 2024 | -2.5% | -10.0% | -16.0% | |
| Q3 2024 | -19.5% | -20.0% | -17.6% | |
| Q2 2024 | -4.6% | +0.0% | +27.4% | |
| Q1 2024 | -10.0% | -9.4% | -52.9% | |
| Q4 2023 | -27.0% | -18.1% | -36.5% | |
| Q3 2023 | -1.8% | +0.0% | +22.0% | |
| Q2 2023 | +3.9% | +2.6% | +6.5% | |
| Q1 2023 | +3.6% | +7.1% | +17.9% | |
| Q4 2022 | +12.3% | +10.8% | -4.6% | |
| Q3 2022 | +6.5% | +5.9% | -28.2% | |
| Q2 2022 | +1.4% | -1.8% | -25.5% | |
| Q1 2022 | +3.7% | +13.8% | +0.0% | |
| Q4 2021 | +0.0% | -9.1% | -10.3% | |
| Q3 2021 | -13.6% | -14.5% | -27.0% | |
| Q2 2021 | +2.7% | +2.2% | -2.4% | |
| Q1 2021 | +6.1% | +22.3% | +19.0% | |
| Q4 2020 | -8.5% | -12.7% | -19.5% | |
| Q3 2020 | +42.0% | +27.6% | +34.1% | |
| Q2 2020 | -12.8% | -29.7% | -45.0% | |
| Q1 2020 | -14.9% | -20.6% | -19.7% | |
| Q4 2019 | -1.1% | +2.3% | +7.5% | |
| Q3 2019 | -1.2% | +7.1% | +45.7% | |
| Q2 2019 | -0.5% | +7.1% | -0.5% | |
| Q1 2019 | +2.0% | +2.5% | +0.3% | |
| Q4 2018 | +6.1% | +9.2% | -20.2% | |
| Q3 2018 | +6.4% | -8.7% | -24.5% | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — |
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