Overview
Equillium posts lower-than-expected net loss and loss per share for Q3
Company reported Q3 revenue of $0, down from $12.2 mln in 2024
Closed financing of up to $50 mln to fund operations through 2027
Outlook
Equillium expects to initiate EQ504 Phase 1 study in mid-2026
Company's cash reserves expected to fund operations through 2027
Equillium could receive additional $20 mln upon milestone achievements
Result Drivers
REVENUE - Fell to $0 as year-ago revenue consisted entirely of itolizumab development funding and amortization of upfront payment from Ono Pharmaceutical related to asset purchase agreement that was terminated in October 2024
R&D EXPENSES - Fell to $1.3 mln from $9.6 mln due to lower clinical development expenses, lower CMC activities and lower consulting expenses
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 EPS | Beat | -$0.06 | -$0.14 (3 Analysts) |
Q3 Net Income | Beat | -$4.23 mln | -$7.26 mln (3 Analysts) |
Q3 Operating Income | Beat | -$4.58 mln | -$6.93 mln (3 Analysts) |
Q3 Basic EPS | -$0.06 | ||
Q3 Operating Expenses | $4.58 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Equillium Inc is $2.50, about 63% above its November 12 closing price of $0.92
Press Release: ID:nGNX6pd1Xj
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)