$EQ
Equillium, Inc.

2020 Q3 Form 10-Q Financial Statement

#000156459020052979 Filed on November 10, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q3 2019 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.300M $2.140M $2.190M
YoY Change 7.48% 114.0%
% of Gross Profit
Research & Development $4.218M $4.182M $4.250M
YoY Change 0.86% 242.79% 687.04%
% of Gross Profit
Depreciation & Amortization $10.00K $10.00K $0.00
YoY Change 0.0%
% of Gross Profit
Operating Expenses $6.516M $6.324M $6.439M
YoY Change 3.04% 184.1% 472.36%
Operating Profit -$6.516M -$6.324M -$6.439M
YoY Change 3.04% 184.11% 472.36%
Interest Expense -$200.0K $320.0K $380.0K
YoY Change -162.5% -111.9%
% of Operating Profit
Other Income/Expense, Net -$81.00K $310.0K $370.0K
YoY Change -126.13% -111.52% -157.81%
Pretax Income -$6.600M -$6.010M -$6.070M
YoY Change 9.82% 22.15%
Income Tax
% Of Pretax Income
Net Earnings -$6.597M -$6.014M -$6.069M
YoY Change 9.69% 22.31% 243.85%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$308.8K -$345.8K -$349.3K
COMMON SHARES
Basic Shares Outstanding 17.38M 17.38M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q3 2019 Q3 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $90.50M $62.20M $56.94M
YoY Change 45.5% 1144.0% 762.79%
Cash & Equivalents $49.25M $27.66M $22.66M
Short-Term Investments $41.30M $34.60M $34.28M
Other Short-Term Assets $1.600M $700.0K $900.0K
YoY Change 128.57% 600.0% 800.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $92.20M $62.90M $57.80M
YoY Change 46.58% 1143.01% 762.63%
LONG-TERM ASSETS
Property, Plant & Equipment $200.0K $100.0K $77.00K
YoY Change 100.0% 213.61%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $0.00 $15.00K
YoY Change -100.0%
Total Long-Term Assets $200.0K $100.0K $92.00K
YoY Change 100.0% -92.65%
TOTAL ASSETS
Total Short-Term Assets $92.20M $62.90M $57.80M
Total Long-Term Assets $200.0K $100.0K $92.00K
Total Assets $92.40M $63.00M $57.89M
YoY Change 46.67% 881.07% 764.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.700M $2.700M $1.974M
YoY Change -37.04% 119.47% 558.0%
Accrued Expenses $2.600M $1.600M $1.688M
YoY Change 62.5% 10.38% 181.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $833.0K
YoY Change
Total Short-Term Liabilities $5.100M $4.300M $3.662M
YoY Change 18.6% 60.46% 306.89%
LONG-TERM LIABILITIES
Long-Term Debt $9.043M $9.616M $0.00
YoY Change -5.96% -17.1% -100.0%
Other Long-Term Liabilities $100.0K $146.0K $200.0K
YoY Change -31.51% -1.83% -77.78%
Total Long-Term Liabilities $9.043M $9.762M $163.0K
YoY Change -7.37% 6463.84% -98.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.100M $4.300M $3.662M
Total Long-Term Liabilities $9.043M $9.762M $163.0K
Total Liabilities $14.30M $14.04M $3.825M
YoY Change 1.88% -16.45% -68.9%
SHAREHOLDERS EQUITY
Retained Earnings -$33.55M -$27.53M
YoY Change
Common Stock $82.42M $81.51M
YoY Change 58071.24%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $78.13M $48.96M $54.06M
YoY Change
Total Liabilities & Shareholders Equity $92.40M $63.00M $57.89M
YoY Change 46.68% 884.3% 764.0%

Cashflow Statement

Concept 2020 Q3 2019 Q3 2019 Q2
OPERATING ACTIVITIES
Net Income -$6.597M -$6.014M -$6.069M
YoY Change 9.69% 22.31% 243.85%
Depreciation, Depletion And Amortization $10.00K $10.00K $0.00
YoY Change 0.0%
Cash From Operating Activities -$4.920M -$4.700M -$4.760M
YoY Change 4.68% 186.59% 131.07%
INVESTING ACTIVITIES
Capital Expenditures -$150.0K $0.00 -$50.00K
YoY Change -100.0% 150.0%
Acquisitions
YoY Change
Other Investing Activities -$22.86M -$230.0K $6.090M
YoY Change 9839.13%
Cash From Investing Activities -$23.02M -$230.0K $6.040M
YoY Change 9908.7% 2200.0% -30300.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 53.06M 9.940M 0.000
YoY Change 433.8% -100.0%
NET CHANGE
Cash From Operating Activities -4.920M -4.700M -4.760M
Cash From Investing Activities -23.02M -230.0K 6.040M
Cash From Financing Activities 53.06M 9.940M 0.000
Net Change In Cash 25.12M 5.010M 1.280M
YoY Change 401.4% -403.64% -366.67%
FREE CASH FLOW
Cash From Operating Activities -$4.920M -$4.700M -$4.760M
Capital Expenditures -$150.0K $0.00 -$50.00K
Free Cash Flow -$4.770M -$4.700M -$4.710M
YoY Change 1.49% 188.34% 130.88%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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eq Equity Issuance Costs In Accounts Payable
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us-gaap Use Of Estimates
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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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DebtInstrumentCarryingAmountIncludingUnaccretedLiabilityForFinalPaymentFee
10450000
CY2020Q3 eq Unaccreted Liability For Final Payment Fee
UnaccretedLiabilityForFinalPaymentFee
309000
CY2020Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
265000
CY2020Q3 us-gaap Long Term Debt
LongTermDebt
9876000
CY2020Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
833000
CY2020Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
9043000
CY2020Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2020Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1475093
CY2020Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
8000000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y7M6D
CY2020Q2 eq Number Of Non Management Directors
NumberOfNonManagementDirectors
2
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
847000
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
633000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2984000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1660000
CY2020Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
4224363
CY2019Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
3218710

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