$EQ
Equillium Inc

2023 Q1 Form 10-K Financial Statement

#000095017023009492 Filed on March 23, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $8.879M $15.76M $15.76M
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.715M $5.192M $17.24M
YoY Change 5.63% 82.95% 51.13%
% of Gross Profit
Research & Development $9.272M $8.525M $37.55M
YoY Change -13.85% 12.93% 42.34%
% of Gross Profit
Depreciation & Amortization $31.00K $32.00K $118.0K
YoY Change 24.0% 68.42% 63.89%
% of Gross Profit
Operating Expenses $12.99M $13.72M $77.84M
YoY Change -65.21% 32.06% 105.99%
Operating Profit -$4.108M -$62.08M
YoY Change -89.0% 64.28%
Interest Expense $407.0K -$70.00K -$633.0K
YoY Change -276.96% -72.66% -37.7%
% of Operating Profit
Other Income/Expense, Net $228.0K $801.0K -$352.0K
YoY Change -359.09% 3540.91% -72.2%
Pretax Income -$3.880M $2.773M -$62.43M
YoY Change -89.63% -126.11% 59.86%
Income Tax $100.0K $0.00
% Of Pretax Income
Net Earnings -$3.940M $2.773M -$62.43M
YoY Change -89.47% -126.11% 59.86%
Net Earnings / Revenue -44.37% 17.6% -396.14%
Basic Earnings Per Share -$0.11 -$1.85
Diluted Earnings Per Share -$0.11 $0.08 -$1.85
COMMON SHARES
Basic Shares Outstanding 34.41M 34.35M 33.73M
Diluted Shares Outstanding 34.41M 33.73M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $61.99M $71.02M $71.02M
YoY Change -9.93% -12.0% -12.0%
Cash & Equivalents $24.50M $59.11M $59.11M
Short-Term Investments $37.49M $11.92M $11.92M
Other Short-Term Assets $4.804M $2.874M $2.874M
YoY Change 47.27% 8.09% 8.09%
Inventory
Prepaid Expenses
Receivables $3.400M $2.800M $2.838M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $70.22M $76.74M $76.74M
YoY Change -2.59% -7.96% -7.96%
LONG-TERM ASSETS
Property, Plant & Equipment $360.0K $391.0K $1.582M
YoY Change -22.41% 64.98% -15.94%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $96.00K $104.0K $104.0K
YoY Change -33.79% -32.03% -32.03%
Total Long-Term Assets $1.570M $1.686M $1.686M
YoY Change -26.98% -17.15% -17.15%
TOTAL ASSETS
Total Short-Term Assets $70.22M $76.74M $76.74M
Total Long-Term Assets $1.570M $1.686M $1.686M
Total Assets $71.79M $78.42M $78.42M
YoY Change -3.29% -8.18% -8.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.692M $3.977M $3.977M
YoY Change 35.2% 224.65% 224.65%
Accrued Expenses $5.443M $7.239M $7.647M
YoY Change -3.25% 22.99% 22.12%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $5.714M $5.714M $5.714M
YoY Change 100.0% 300.14% 300.14%
Total Short-Term Liabilities $32.02M $32.04M $32.04M
YoY Change 144.19% 259.37% 259.37%
LONG-TERM LIABILITIES
Long-Term Debt $1.841M $3.239M $3.239M
YoY Change -75.02% -62.98% -62.98%
Other Long-Term Liabilities $8.660M $11.20M $11.20M
YoY Change 671.84% 807.04% 807.04%
Total Long-Term Liabilities $1.841M $3.239M $14.44M
YoY Change -75.02% -62.98% 44.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $32.02M $32.04M $32.04M
Total Long-Term Liabilities $1.841M $3.239M $14.44M
Total Liabilities $42.52M $46.48M $46.48M
YoY Change 96.81% 145.92% 145.92%
SHAREHOLDERS EQUITY
Retained Earnings -$176.3M -$172.4M
YoY Change 19.64% 56.76%
Common Stock $205.3M $204.3M
YoY Change 2.41% 15.66%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $29.27M $31.94M $31.94M
YoY Change
Total Liabilities & Shareholders Equity $71.79M $78.42M $78.42M
YoY Change -3.29% -8.18% -8.18%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$3.940M $2.773M -$62.43M
YoY Change -89.47% -126.11% 59.86%
Depreciation, Depletion And Amortization $31.00K $32.00K $118.0K
YoY Change 24.0% 68.42% 63.89%
Cash From Operating Activities -$7.995M $27.72M -$8.733M
YoY Change -34.11% -373.61% -72.78%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $2.000K $279.0K
YoY Change -100.0% 389.47%
Acquisitions
YoY Change
Other Investing Activities -$25.18M $6.980M $18.96M
YoY Change 114.09% -141.33% -30.95%
Cash From Investing Activities -$25.18M $6.978M $18.68M
YoY Change 110.1% -141.32% -31.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.429M -1.356M -1.215M
YoY Change -702.67% -103.91%
NET CHANGE
Cash From Operating Activities -7.995M 27.72M -8.733M
Cash From Investing Activities -25.18M 6.978M 18.68M
Cash From Financing Activities -1.429M -1.356M -1.215M
Net Change In Cash -34.60M 33.35M 8.741M
YoY Change 43.45% -224.44% -66.87%
FREE CASH FLOW
Cash From Operating Activities -$7.995M $27.72M -$8.733M
Capital Expenditures $0.00 $2.000K $279.0K
Free Cash Flow -$7.995M $27.72M -$9.012M
YoY Change -35.3% -373.59% -71.96%

Facts In Submission

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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
26384000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
50366000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
23982000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
59107000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
50366000
CY2022 us-gaap Interest Paid Net
InterestPaidNet
847000
CY2021 us-gaap Interest Paid Net
InterestPaidNet
836000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1759000
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
14000
CY2022 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2022 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2017-03-16
CY2022Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
71000000.0
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of the Company’s consolidated financial statements requires the Company to make estimates and assumptions that impact the reported amounts of assets, liabilities and expenses and the disclosure of contingent assets and liabilities in the consolidated financial statements and accompanying notes. Significant estimates in the Company’s consolidated financial statements relate to accrued research and development expense, revenue recognition and the valuation of equity awards. Management evaluates its estimates on an ongoing basis. Although estimates are based on the Company’s historical experience, knowledge of current events, and actions it may undertake in the future, actual results may ultimately materially differ from these estimates and assumptions.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Concentration of Credit Risk and Off-Balance Sheet Risk</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Financial instruments which potentially subject the Company to significant concentration of credit risk consist of cash and cash equivalents and short-term investments. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company has not experienced any losses in such accounts, and management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. The Company’s investment policy includes guidelines for the quality of the related institutions and financial instruments and defines allowable investments that the Company may invest in, which the Company believes minimizes the exposure to concentration of credit risk.</span></p>
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2800000
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
0
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2022 eq Prepaid And Other Current Assets Tax Incentive
PrepaidAndOtherCurrentAssetsTaxIncentive
1000000.0
CY2021 eq Prepaid And Other Current Assets Tax Incentive
PrepaidAndOtherCurrentAssetsTaxIncentive
300000
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6468642
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5313166
CY2022Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
11916000
CY2021Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
30345000
CY2022Q4 us-gaap Notes Payable
NotesPayable
9000000.0
CY2021Q4 us-gaap Notes Payable
NotesPayable
10200000
CY2022Q4 us-gaap Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
0
CY2021Q4 us-gaap Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
0
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
12006000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
90000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
11916000
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
30397000
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
52000
CY2021Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
30345000
CY2022 us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings
0
CY2021 us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings
0
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
249000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
147000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
391000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
237000
CY2022 us-gaap Depreciation
Depreciation
118000
CY2021 us-gaap Depreciation
Depreciation
72000
CY2022 us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
16000
CY2021 us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
0
CY2021 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
0
CY2022 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
0
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
600000
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
300000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1191000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
408000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
824000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1232000
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y25D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0825
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
465000
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
494000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
492000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
219000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
169000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
28000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1402000
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
170000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1232000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2975000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2511000
CY2022Q4 eq Accrued Clinical Development
AccruedClinicalDevelopment
3253000
CY2021Q4 eq Accrued Clinical Development
AccruedClinicalDevelopment
2627000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
472000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
245000
CY2022Q4 eq Accrued Non Clinical Research
AccruedNonClinicalResearch
465000
CY2021Q4 eq Accrued Non Clinical Research
AccruedNonClinicalResearch
432000
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
74000
CY2021Q4 us-gaap Interest Payable Current
InterestPayableCurrent
71000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
7239000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5886000
CY2019Q3 us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2024-06-01
CY2022Q4 eq Debt Instrument Carrying Amount Including Unaccreted Liability For Final Payment Fee Maturities Repayments Of Principal In Next Twelve Months
DebtInstrumentCarryingAmountIncludingUnaccretedLiabilityForFinalPaymentFeeMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
5714000
CY2022Q4 eq Debt Instrument Carrying Amount Including Unaccreted Liability For Final Payment Fee Maturities Repayments Of Principal In Year Two
DebtInstrumentCarryingAmountIncludingUnaccretedLiabilityForFinalPaymentFeeMaturitiesRepaymentsOfPrincipalInYearTwo
3357000
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
9071000
CY2022Q4 eq Unaccreted Liability For Final Payment Fee
UnaccretedLiabilityForFinalPaymentFee
70000
CY2022Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
48000
CY2022Q4 eq Debt Instrument Carrying Amount Including Unaccreted Liability For Final Payment Fee
DebtInstrumentCarryingAmountIncludingUnaccretedLiabilityForFinalPaymentFee
8953000
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
5714000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
3239000
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
34414149
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
29455668
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
0
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
400000
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
900000
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
4500000
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
3000000.0
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.49
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.94
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
6700000
CY2022 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y7M6D
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4841000
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4410000
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0193
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0068
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-13110000
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-8201000
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
533000
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
451000
CY2022 eq Income Tax Reconciliation Permanent Items
IncomeTaxReconciliationPermanentItems
128000
CY2021 eq Income Tax Reconciliation Permanent Items
IncomeTaxReconciliationPermanentItems
31000
CY2022 eq Income Tax Reconciliation Federal Research And Orphan Drug Credits
IncomeTaxReconciliationFederalResearchAndOrphanDrugCredits
1152000
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.8160
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.8855
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y10M2D
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3D
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022 eq Dividends Paid On Common Stock
DividendsPaidOnCommonStock
0
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
8178936
CY2021Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
6549848
CY2022 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
0
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-60403000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-37705000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-2025000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-1347000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-62428000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-39052000
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
CY2021 eq Income Tax Reconciliation Federal Research And Orphan Drug Credits
IncomeTaxReconciliationFederalResearchAndOrphanDrugCredits
1713000
CY2022 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
425000
CY2021 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
72000
CY2022 eq Effective Income Tax Rate Reconciliation Transaction Costs Amount
EffectiveIncomeTaxRateReconciliationTransactionCostsAmount
89000
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Research And Development
IncomeTaxReconciliationNondeductibleExpenseResearchAndDevelopment
4840000
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
8247000
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
9360000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
28222000
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
19344000
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
9289000
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
3940000
CY2022Q4 eq Deferred Tax Assets Capitalized Research Expenditures
DeferredTaxAssetsCapitalizedResearchExpenditures
7086000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
1829000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
1134000
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
1196000
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
1184000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
47622000
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
25602000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
46317000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
25215000
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
1305000
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
387000
CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
284000
CY2021Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
346000
CY2022Q4 us-gaap Deferred Tax Liabilities Tax Deferred Income
DeferredTaxLiabilitiesTaxDeferredIncome
945000
CY2022Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
76000
CY2021Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
41000
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
1305000
CY2021Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
387000
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
46300000
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
21100000
CY2018Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
112700000
CY2022 us-gaap Operating Loss Carryforwards Limitations On Use
OperatingLossCarryforwardsLimitationsOnUse
Federal net operating losses generated after December 31, 2017 carryover indefinitely but the deductibility of such federal net operating losses is limited to 80% of taxable income.
CY2022 eq Operating Loss Carryforwards Expiration Year
OperatingLossCarryforwardsExpirationYear
2037
CY2022 eq Tax Credit Carryforward Expiration Year
TaxCreditCarryforwardExpirationYear
2037
CY2022 eq Cumulative Change In Ownership Percentage
CumulativeChangeInOwnershipPercentage
0.50
CY2022 eq Cumulative Change In Ownership Period
CumulativeChangeInOwnershipPeriod
P3Y
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
5487000
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2667000
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
2266000
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
392000
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
554000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
5879000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
5487000
CY2022 eq Research And Experimental Expenditures Capitalized Cost Amortization Period
ResearchAndExperimentalExpendituresCapitalizedCostAmortizationPeriod
P5Y
CY2022 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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0
CY2021 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0

Files In Submission

Name View Source Status
eq-20221231_cal.xml Edgar Link unprocessable
0000950170-23-009492-index-headers.html Edgar Link pending
0000950170-23-009492-index.html Edgar Link pending
0000950170-23-009492.txt Edgar Link pending
0000950170-23-009492-xbrl.zip Edgar Link pending
eq-20221231.htm Edgar Link pending
eq-20221231.xsd Edgar Link pending
eq-ex10_29.htm Edgar Link pending
eq-ex10_31.htm Edgar Link pending
eq-ex21_1.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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MetaLinks.json Edgar Link pending
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eq-20221231_def.xml Edgar Link unprocessable
eq-20221231_lab.xml Edgar Link unprocessable
eq-20221231_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
eq-20221231_htm.xml Edgar Link completed
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report.css Edgar Link pending
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