$EQ
Equillium, Inc.

2020 Q2 Form 10-Q Financial Statement

#000156459020025063 Filed on May 13, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2020 Q1 2019 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.820M $2.750M $2.590M
YoY Change 28.77% 6.18%
% of Gross Profit
Research & Development $3.893M $4.706M $3.759M
YoY Change -8.4% 25.19% 466.97%
% of Gross Profit
Depreciation & Amortization $10.00K $10.00K $10.00K
YoY Change 0.0%
% of Gross Profit
Operating Expenses $6.610M $7.452M $6.348M
YoY Change 2.66% 17.39% 512.15%
Operating Profit -$6.610M -$7.452M -$6.348M
YoY Change 2.66% 17.39% 512.15%
Interest Expense -$150.0K -$50.00K $400.0K
YoY Change -139.47% -112.5%
% of Operating Profit
Other Income/Expense, Net $149.0K -$385.0K $398.0K
YoY Change -59.73% -196.73% -173.7%
Pretax Income -$6.460M -$7.840M -$5.950M
YoY Change 6.43% 31.76%
Income Tax
% Of Pretax Income
Net Earnings -$6.461M -$7.837M -$5.950M
YoY Change 6.46% 31.71% 277.3%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$365.2K -$446.5K -$342.3K
COMMON SHARES
Basic Shares Outstanding 17.68M 17.38M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q2 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $42.60M $47.68M $61.61M
YoY Change -25.19% -22.61%
Cash & Equivalents $24.08M $20.61M $21.39M
Short-Term Investments $18.50M $27.06M $40.21M
Other Short-Term Assets $1.600M $2.100M $1.000M
YoY Change 77.78% 110.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $44.20M $49.82M $62.63M
YoY Change -23.52% -20.45%
LONG-TERM ASSETS
Property, Plant & Equipment $100.0K $89.00K $83.00K
YoY Change 29.87% 7.23%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $0.00 $15.00K
YoY Change -100.0% -100.0%
Total Long-Term Assets $100.0K $89.00K $98.00K
YoY Change 8.7% -9.18%
TOTAL ASSETS
Total Short-Term Assets $44.20M $49.82M $62.63M
Total Long-Term Assets $100.0K $89.00K $98.00K
Total Assets $44.30M $49.91M $62.73M
YoY Change -23.47% -20.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.800M $1.801M $1.588M
YoY Change -8.81% 13.41%
Accrued Expenses $1.600M $1.910M $1.464M
YoY Change -5.21% 30.46%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.400M $3.711M $3.052M
YoY Change -7.15% 21.59%
LONG-TERM LIABILITIES
Long-Term Debt $9.810M $9.746M $0.00
YoY Change
Other Long-Term Liabilities $100.0K $108.0K $200.0K
YoY Change -50.0% -46.0%
Total Long-Term Liabilities $9.810M $9.854M $181.0K
YoY Change 5918.4% 5344.2%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.400M $3.711M $3.052M
Total Long-Term Liabilities $9.810M $9.854M $181.0K
Total Liabilities $13.30M $13.57M $3.233M
YoY Change 247.71% 319.58%
SHAREHOLDERS EQUITY
Retained Earnings -$48.95M -$21.46M
YoY Change 128.07%
Common Stock $84.82M $80.91M
YoY Change 4.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $30.97M $36.35M $59.49M
YoY Change
Total Liabilities & Shareholders Equity $44.30M $49.91M $62.73M
YoY Change -23.47% -20.43%

Cashflow Statement

Concept 2020 Q2 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$6.461M -$7.837M -$5.950M
YoY Change 6.46% 31.71% 277.3%
Depreciation, Depletion And Amortization $10.00K $10.00K $10.00K
YoY Change 0.0%
Cash From Operating Activities -$5.080M -$6.370M -$4.464M
YoY Change 6.72% 42.7% 402.14%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $15.00K $11.00K
YoY Change -100.0% 36.36% 120.0%
Acquisitions
YoY Change
Other Investing Activities $8.460M $13.02M -$2.640M
YoY Change 38.92% -593.18%
Cash From Investing Activities $8.450M $13.01M -$2.651M
YoY Change 39.9% -590.57% 52920.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $775.0K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 90.00K 775.0K
YoY Change
NET CHANGE
Cash From Operating Activities -5.080M -6.370M -4.464M
Cash From Investing Activities 8.450M 13.01M -2.651M
Cash From Financing Activities 90.00K 775.0K
Net Change In Cash 3.460M 7.395M -7.115M
YoY Change 170.31% -203.94% 695.86%
FREE CASH FLOW
Cash From Operating Activities -$5.080M -$6.370M -$4.464M
Capital Expenditures $0.00 $15.00K $11.00K
Free Cash Flow -$5.080M -$6.385M -$4.475M
YoY Change 7.86% 42.68% 400.56%

Facts In Submission

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<p style="margin-bottom:0pt;margin-top:9pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:9pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of the Company&#8217;s condensed 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 condensed consolidated financial statements and accompanying notes. Significant estimates in the Company&#8217;s condensed consolidated financial statements relate to clinical trial accruals and the valuation of equity awards. Management evaluates its estimates on an ongoing basis. Although estimates are based on the Company&#8217;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. </p>
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DebtInstrumentCarryingAmountIncludingUnaccretedLiabilityForFinalPaymentFeeMaturitiesRepaymentsOfPrincipalInYearThree
3333000
CY2020Q1 eq Debt Instrument Carrying Amount Including Unaccreted Liability For Final Payment Fee Maturities Repayments Of Principal In Year Four
DebtInstrumentCarryingAmountIncludingUnaccretedLiabilityForFinalPaymentFeeMaturitiesRepaymentsOfPrincipalInYearFour
3333000
CY2020Q1 eq Debt Instrument Carrying Amount Including Unaccreted Liability For Final Payment Fee Maturities Repayments Of Principal In Year Five
DebtInstrumentCarryingAmountIncludingUnaccretedLiabilityForFinalPaymentFeeMaturitiesRepaymentsOfPrincipalInYearFive
2117000
CY2020Q1 eq Debt Instrument Carrying Amount Including Unaccreted Liability For Final Payment Fee
DebtInstrumentCarryingAmountIncludingUnaccretedLiabilityForFinalPaymentFee
10450000
CY2020Q1 eq Unaccreted Liability For Final Payment Fee
UnaccretedLiabilityForFinalPaymentFee
379000
CY2020Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
325000
CY2020Q1 us-gaap Long Term Debt
LongTermDebt
9746000
CY2020Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
9746000
CY2020Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2020Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2020Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
4264248
CY2019Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
3218710
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
787000
CY2019Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
446000

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