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Equillium Reports First Quarter 2023 Financial Results and Provides Clinical Updates
$62.0 million cash balance at the end of Q1 2023 expected to provide operating runway into 2025 Presented Phase 1b EQUATE data in aGVHD highlighting rapid
About this update from Equillium, Inc.
[{"type":"text","content":"\n$62.0 million cash balance at the end of Q1 2023 expected to provide operating runway into 2025\n\n\nPresented Phase 1b EQUATE data in aGVHD highlighting rapid and durable rates of overall clinical response, clinical response associated with improved progression-free survival through one year, and steroid tapering of 99% at Day 169\n\n\n LA JOLLA, Calif.--(BUSINESS WIRE)--\nEquillium, Inc. (Nasdaq: EQ), 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, today announced financial results for the first quarter 2023 and provided corporate and clinical development updates.\n\n\n“In the first quarter of 2023, we made excellent progress advancing Equillium’s wholly-owned multi-cytokine inhibitors, EQ101 and EQ102, in their respective clinical programs in alopecia areata and first-in-human development, as well as continuing to advance our pivotal Phase 3 EQUATOR study in aGVHD and Phase 1b EQUALISE study in lupus nephritis,” said Bruce Steel, chief executive officer at Equillium. “With the Ono Pharmaceutical partnership now in place, and Equillium in a strong financial position, our team is focused on achieving near-term milestones in the multi-cytokine programs before the end of the year, including initial data from the EQ101 Phase 2 study in alopecia areata. While we believe the multi-cytokine programs represent a significant source of long-term value, we remain highly engaged in the ongoing development of itolizumab and plan to report topline data from the EQUALISE study in lupus nephritis in the first half of 2024 and remain currently on track for the interim review of the Phase 3 EQUATOR study later in 2024. We look forward to these two milestones as they will establish Ono’s option exercise timeline for itolizumab, which if exercised would result in a payment of approximately $371 million and significantly extend Equillium’s cash runway.”\n\n\n\n\n1\n\n\n\n\n\n\n \n\n\n\n\n\n\nOption exercise payment is denominated in Japanese yen (5 billion) and subject to currency exchange rates at the time of payment.\n\n\n\n\n\n\n\nHighlights Since the Beginning of 2023:\n\n\n\nAnnounced oral and ePoster presentations at the Tandem Meetings of the American Society of Transplantation and Cell...