Business
Equillium Announces Second Quarter 2024 Estimated Cash and Investments Balance
Q2 ending cash, cash equivalents and short-term investments totaled approximately $33.3 million, an increase of approximately $1.0 million compared to the
About this update from Equillium, Inc.
[{"type":"text","content":"\nQ2 ending cash, cash equivalents and short-term investments totaled approximately $33.3 million, an increase of approximately $1.0 million compared to the amount at the end of Q1\n\n\n LA JOLLA, Calif.--(BUSINESS WIRE)--\nEquillium, Inc. (Nasdaq: EQ), a clinical-stage biotechnology company focused on developing novel therapeutics to treat severe autoimmune and inflammatory disorders, today announced second quarter 2024 estimated ending cash, cash equivalents and short-term investments of approximately $33.3 million, representing an increase of approximately $1.0 million from the end of the first quarter of 2024. The increase is primarily the result of receiving a tax credit of approximately $2.7 million from the Australian tax authority for research and development expenses for calendar year 2023. The company expects to announce its complete second quarter 2024 financial results on approximately August 8.\n\n\nThe actual amounts that the company reports will be subject to the company’s financial closing procedures and any final adjustments that may be made prior to the time its financial results for the quarter ended June 30, 2024 are finalized and filed with the Securities and Exchange Commission. The company’s independent registered public accounting firm has not audited, reviewed, compiled, or applied agreed-upon procedures with respect to the preliminary financial data. This estimate should not be viewed as a substitute for financial statements prepared in accordance with accounting principles generally accepted in the United States and it is not necessarily indicative of the results to be achieved in any future period.\n\n\nAbout Equillium\n\n\nEquillium is a clinical-stage biotechnology company leveraging a deep understanding of immunobiology to develop novel therapeutics to treat severe autoimmune and inflammatory disorders with high unmet medical need. The company’s pipeline consists of the following novel first-in-class immunomodulatory assets and product platform targeting immuno-inflammatory pathways. EQ101: a selective tri-specific cytokine inhibitor targeting IL-2, IL-9, and IL-15; recently announced positive results from a Phase 2 proof-of-concept clinical study of patients with alopecia areata in Australia and New Zealand by Equillium’s Australian subsidiary as the trial sponsor. EQ302: an orally delivered, sele...