Financial Performance - Revenue for Q3 2024 was $12.2 million, a 37% increase from $8.9 million in Q3 2023[3] - Net loss for Q3 2024 was approximately $7,000, significantly reduced from a net loss of $3.7 million in Q3 2023[6] - General and administrative expenses decreased to $3.3 million in Q3 2024 from $3.5 million in Q3 2023, driven by lower professional fees[5] Research and Development - Research and development expenses for Q3 2024 were $9.6 million, up from $9.0 million in Q3 2023, primarily due to increased CMC activities and employee compensation[4] - The company has enrolled over 150 patients in the Phase 3 EQUATOR study, with topline data expected in Q1 2025[2] - Anticipated topline data from the Phase 2 ulcerative colitis study is also expected in Q1 2025[2] Financial Position - Cash, cash equivalents, and short-term investments totaled $25.9 million as of September 30, 2024, down from $33.3 million as of June 30, 2024[7] - Total assets decreased to $34.5 million as of September 30, 2024, from $50.5 million as of December 31, 2023[11] - Total stockholders' equity increased to $23.2 million as of September 30, 2024, compared to $22.6 million as of December 31, 2023[11] Partnerships and Rights - The company retained rights to itolizumab following the end of the partnership with Ono Pharmaceutical[2]
Equillium(EQ) - 2024 Q3 - Quarterly Results