EQ — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-13

• Research and development expenses were $2.8 million and $5.7 million for the three and six months ended June 30, 2026, respectively, compared to $4.1 million and $10.0 million for the three and six months ended June 30, 2025, respectively.

• General and administrative expenses were $2.4 million and $5.0 million for the three and six months ended June 30, 2026, respectively, compared to $2.1 million and $5.1 million for the three and six months ended June 30, 2025, respectively.

• The increase of $0.3 million for the three months ended June 30, 2026, compared to the same period in 2025, was primarily due to higher non-cash stock-based compensation expenses. The decrease of $0.1 million for the six months ended June 30, 2026, compared to the same period in 2025, was primarily …

• Interest income was $0.5 million and $0.8 million for the three and six months ended June 30, 2026, respectively, compared to $0.1 million and $0.3 million for the three and six months ended June 30, 2025, respectively. The increase in interest income was primarily due to higher average cash and cas…

• Other (expense) income, net was other expense of $47,000 and $57,000 for the three and six months ended June 30, 2026, respectively, compared to other income of $0.4 million for each of the three and six months ended June 30, 2025, respectively. The change relates primarily to an increase in net for…

Text removed vs the prior filing · source: 10-Q · 2026-05-13

• Research and development expenses were $3.0 million for the three months ended March 31, 2026, compared to $5.9 million for the three months ended March 31, 2025.

• General and administrative expenses were $2.6 million and $2.9 million for the three month periods ended March 31, 2026 and 2025, respectively. The decrease of $0.3 million in general and administrative expenses was primarily due to a decrease in outside legal and other professional fees during the …

• Interest income was $0.3 million and $0.2 million for the three months ended March 31, 2026 and 2025, respectively. The increase in interest income was primarily due to higher average cash and cash equivalents balances during the three months ended March 31, 2026 compared to the three months ended M…

• Other (expense) income, net was expense of $10,000 for the three months ended March 31, 2026, compared to income of $43,000 for the three months ended March 31, 2025. The change relates primarily to an increase in net foreign currency transaction unrealized losses during the three months ended March…

• From inception through March 31, 2026, we have financed our operations primarily through the sale of equity and debt securities and income generated from an asset purchase agreement that terminated in 2024. As of March 31, 2026, we had an accumulated deficit of $221.5 million and anticipate that we …

Text added vs the prior filing · source: 10-Q · 2026-08-13

• Raising additional capital may cause dilution to our stockholders, and may restrict our operations or require us to relinquish rights to our technologies or product candidates.

• submissions in a timely manner, in each case pursuant to our agreements with them, our development programs may be significantly delayed and we may need to conduct additional studies or collect additional data independently. In either case, our development costs would increase.

• pharmaceutical prices and by any future relaxation of laws that presently restrict imports of product from countries where they may be sold at lower prices than in the United States.

• planned or future clinical studies, our ability to obtain marketing approval, or our ability to obtain commercial supply of our products, if approved, could be delayed or stopped.

• There is no guarantee that any such CROs, clinical study investigators or other third parties on which we rely on will devote adequate time and resources to our development activities or perform as contractually required. If any of these third parties fail to meet expected deadlines, adhere to our c…

Text removed vs the prior filing · source: 10-Q · 2026-05-13

• Raising additional equity capital may cause dilution to our stockholders, and raising additional equity or debt capital may restrict our operations or require us to relinquish rights to our technologies or product candidates;

• delayed and we may need to conduct additional studies or collect additional data independently. In either case, our development costs would increase.

• We have no experience in pharmaceutical product manufacturing and do not own or operate, and we do not expect to own or operate, facilities for product manufacturing, storage and distribution, or testing. We are completely dependent on third-party CMOs to fulfill

• There is no guarantee that any such CROs, clinical study investigators or other third parties on which we rely on will devote adequate time and resources to our development activities or perform as contractually required. If any of these third parties fail to meet expected deadlines, adhere to our c…

• the utility of the clinical study itself may be jeopardized, which could result in the delay or rejection of any marketing application we submit by the FDA. Any such delay or rejection could prevent us from commercializing EQ504, EQ302 or any future products.

Text added vs the prior filing · source: 10-Q · 2026-08-13

• During the three-months ended June 30, 2026, an officer (as defined in Rule 16a-1(f) under the Exchange Act) adopted and subsequently terminated a contract, instruction or written plan for the sale of our securities set forth in the table below:

• (1) Contract, instruction or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act.

• (2) “Non-Rule 10b5-1 trading arrangement” as defined in Item 408(c) of Regulation S-K under the Exchange Act.

• (3) Represents the adoption of a written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) adopted on May 13, 2026.

• (4) Represents the termination of a written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) terminated on June 4, 2026.

Text removed vs the prior filing · source: 10-Q · 2026-05-13

• During the three-months ended March 31, 2026, none of the Company's directors or officers adopted, modified or terminated any "Rule 10b5-1 trading arrangement" or any "non-Rule 10b5-1 trading arrangement," in each case as such term is defined in Item 408 of Regulation S-K.