Equillium Announces Q2 2024 Ending Cash, Cash Equivalents, And Short-Term Investments Total Approximately $33.3M, Up $1.0M From Q1; Increase Driven By $2.7M Australian Tax Credit For 2023 R&D Expenses
Portfolio Pulse from Benzinga Newsdesk
Equillium announced that its cash, cash equivalents, and short-term investments totaled approximately $33.3 million at the end of Q2 2024, an increase of $1.0 million from Q1. This increase was driven by a $2.7 million Australian tax credit for 2023 R&D expenses.
July 18, 2024 | 5:59 pm
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POSITIVE IMPACT
Equillium's cash and short-term investments increased to $33.3 million in Q2 2024, driven by a $2.7 million Australian tax credit for 2023 R&D expenses.
The increase in cash and short-term investments is a positive financial indicator for Equillium, driven by a significant tax credit. This could boost investor confidence and potentially lead to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100