Equillium posts narrower-than-expected Q3 net loss; expects cash runway into 2029
EQ•Equillium reported a third-quarter net loss of $4.58 million, or $0.04 per share, both narrower than expected. It ended the quarter with $53.3 million in cash and expects its runway to fund operations into 2029 after a $20 million financing.
1. Quarterly results
Equillium reported a third-quarter net loss of $4.58 million, compared with analysts’ $5.89 million estimate. Loss per share was $0.04, versus an expected $0.05, while operating expenses were $5.05 million.
2. Clinical plans and cash
The company ended the quarter with $53.3 million in cash and expects its cash runway to fund operations into 2029 following a $20 million financing. Equillium initiated a Phase 1 trial of lead candidate EQ504 in October and expects proof-of-mechanism data in the second quarter of 2027. It plans to start a proof-of-concept ulcerative colitis study in the second half of 2027, subject to results.
