Equillium, Inc. (EQ) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-05-21	Dec-31-20	Dec-05-20	Dec-31-19	Dec-31-18
	10-K	10-K	8-K	10-K	8-K	10-K	10-K
Revenues	15.8	0.0	26.4	0.0	19.4	0.0	0.0
Revenue growth			36.1%
Cost of goods sold	0.0	0.0	37.8	0.0	29.5	0.0	0.0
Gross profit	15.8	0.0	-11.4	0.0	-10.2	0.0	0.0
Gross margin	100.0%		-43.2%		-52.4%
Selling, general and administrative [+]	77.8	37.8	11.4	29.5	10.2	9.1	3.7
General and administrative			11.4		10.2	9.1	3.7
Research and development						17.6	4.9
Other operating expenses	-22.3	2.5	15.0	0.5	9.2
EBITDA [+]	-39.6	-40.2		-30.0		-26.7	-8.6
EBITDA growth	-1.6%	34.1%	27.9%	12.4%		210.2%
EBITDA margin	-251.4%		-143.2%		-152.4%
Depreciation and amortization	0.1	0.1		0.0		0.0	0.0
EBIT [+]	-39.7	-40.3	-37.8	-30.1	-29.5	-26.7	-8.6
EBIT growth	-1.5%	34.1%	27.9%	12.5%		210.2%
EBIT margin	-252.1%		-143.2%		-152.4%
Non-recurring items [+]	23.0
In-process research & development	23.0
Interest expense, net [+]	-0.4	-0.1		-0.5		-1.1	2.2
Interest expense	1.1	1.1		1.1		0.3	2.6
Interest income	0.4	0.1		0.5		1.4	0.3
Other income (expense), net	1.0	2.3	-1.3	0.9	-0.3	0.0	-2.4
Pre-tax income	-62.4	-39.1	-39.1	-29.8	-29.8	-25.6	-13.3
Income taxes	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Tax rate	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Net income	-62.4	-39.1	-39.1	-29.8	-29.8	-25.6	-13.3
Net margin	-396.1%		-148.0%		-153.8%

Basic EPS [+]	($1.85)	($1.36)	($1.36)	($1.46)	($1.46)	($1.47)	($1.09)
Growth	36.5%	-7.4%	-7.4%	-0.6%		35.5%
Diluted EPS [+]	($1.85)	($1.36)	($1.36)	($1.46)	($1.46)	($1.47)	($1.09)
Growth	36.5%	-7.4%	-7.4%	-0.6%		35.5%

Shares outstanding (basic) [+]	33.7	28.8	28.8	20.4	20.4	17.4	12.2
Growth	17.1%	41.5%	41.5%	17.1%		42.6%
Shares outstanding (diluted) [+]	33.7	28.8	28.8	20.4	20.4	17.4	12.2
Growth	17.1%	41.5%	41.5%	17.1%		42.6%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.