Equillium(EQ) - 2024 Q4 - Annual Results

Financial Performance - Revenue for Q4 2024 was $4.4 million, down from$9.2 million in Q4 2023; full year revenue increased to $41.1 million from$36.1 million in 2023[6] - R&D expenses for Q4 2024 were $7.3 million, compared to$9.2 million in Q4 2023; full year R&D expenses slightly increased to $37.4 million from$37.0 million[7] - G&A expenses for Q4 2024 decreased to $1.8 million from$3.2 million in Q4 2023; full year G&A expenses were $11.9 million, down from$13.6 million[8] - Net loss for Q4 2024 was $5.8 million, or$(0.16) per share, compared to a net loss of $2.3 million, or$(0.07) per share in Q4 2023; full year net loss was $8.1 million, or$(0.23) per share, down from $13.3 million, or$(0.38) per share in 2023[9] Clinical Results - Itolizumab demonstrated a median duration of complete response of 336 days compared to 72 days for placebo, with a p-value of 0.017[4] - Itolizumab showed a median failure-free survival of 154 days versus 70 days for placebo, with a p-value of 0.043[4] Future Plans - The company expects FDA feedback on the Breakthrough Therapy designation request and Accelerated Approval pathway in May 2025[5] - The company plans to submit a biologics license application in the first half of 2026, pending positive FDA feedback and additional capital[2] Financial Position - Cash, cash equivalents, and short-term investments totaled $22.6 million as of December 31, 2024, down from$40.9 million as of December 31, 2023[11] - The total assets decreased to $25.6 million in 2024 from$50.5 million in 2023[18]