Equillium Announces Second Quarter 2024 Estimated Cash and Investments Balance
Equillium Inc (Nasdaq: EQ), a clinical-stage biotech company, has announced its estimated Q2 2024 financial position. The company's cash, cash equivalents, and short-term investments totaled approximately $33.3 million at the end of Q2, marking an increase of about $1.0 million from Q1 2024. This increase is primarily attributed to a $2.7 million tax credit received from the Australian tax authority for 2023 R&D expenses.
Equillium plans to release its complete Q2 2024 financial results around August 8. The company emphasizes that these figures are preliminary and subject to final adjustments. The data has not been audited or reviewed by an independent accounting firm and should not be considered a substitute for official financial statements.
- Increased cash position by $1.0 million in Q2 2024
- Received $2.7 million tax credit for R&D expenses
- None.
Q2 ending cash, cash equivalents and short-term investments totaled approximately
The 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
About Equillium
Equillium 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
For more information, visit www.equilliumbio.com.
Forward Looking Statements
Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate", "believe", “could”, “continue”, "expect", "estimate", “may”, "plan", "outlook", “future” and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements include, but are not limited to, statements regarding the company’s preliminary estimates of unaudited cash, cash equivalents and short-term investments as of June 30, 2024. Because such statements are subject to risks and uncertainties, many of which are outside of Equillium’s control, actual results may differ materially from those expressed or implied by such forward-looking statements. Risks that contribute to the uncertain nature of the forward-looking statements include: risks related to preliminary financial results, including the risks that the preliminary financial results reported herein reflect information available to the company only at this time and may differ from actual results, including in connection with the company’s completion of financial closing procedures, risks and uncertainties associated with the company’s business and finances in general. These and other risks and uncertainties are described more fully under the caption "Risk Factors" and elsewhere in Equillium's filings and reports, which may be accessed for free by visiting the Securities and Exchange Commission’s website at www.sec.gov and on Equillium’s website under the heading “Investors.” Investors should take such risks into account and should not rely on forward-looking statements when making investment decisions. All forward-looking statements contained in this press release speak only as of the date on which they were made. Equillium undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.
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Investor Contact
Michael Moore
Vice President, Investor Relations & Corporate Communications
619-302-4431
ir@equilliumbio.com
Source: Equillium, Inc.
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