XML 59 R31.htm IDEA: XBRL DOCUMENT
v3.23.1

Stockholders' Equity (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Equity [Abstract] |
Summary of Stock Option Activity | The following summarizes stock option activity for the year ended December 31, 2022:
|  | Outstanding Options |  |  | Weighted- Average Exercise Price Per Share |  |  | Weighted Average Remaining Contractual Term (in years) |  |  | Aggregate Intrinsic Value (in thousands) (a) |
Balances as of December 31, 2021 |  |  | 3,947,025 |  |  | $ | 4.58 |  |  |  |  |  |  |
Granted |  |  | 2,169,800 |  |  | $ | 3.63 |  |  |  |  |  |  |
Exercised |  |  | - |  |  | $ | - |  |  |  |  |  |  |
Forfeitures and cancellations |  |  | (1,014,324 | ) |  | $ | 4.90 |  |  |  |  |  |  |
Balances as of December 31, 2022 |  |  | 5,102,501 |  |  | $ | 4.11 |  |  |  | 7.71 |  |  | $ | - |
Options exercisable as of December 31, 2022 |  |  | 2,483,222 |  |  | $ | 4.23 |  |  |  | 6.75 |  |  | $ | - |
(a) Aggregate intrinsic value in this table was calculated as the positive difference, if any, between the closing price per share of the Company’s common stock on December 31, 2022 of $1.06 and the price of the underlying options.
Summary of Non-cash Stock-based Compensation Expense | Total non-cash stock-based compensation expense for all stock awards and purchase rights, net of forfeitures recognized as they occur, that was recognized in the consolidated statement of operations is as follows (in thousands):
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |
Research and development |  | $ | 1,799 |  |  | $ | 1,976 |
General and administrative |  |  | 3,042 |  |  |  | 2,434 |
Total |  | $ | 4,841 |  |  | $ | 4,410 |
Summary of Weighted-Average Assumptions Used to Determine Fair Value of Stock Option Grants | The weighted-average assumptions used in the Black-Scholes option pricing model to determine the fair value of the employee and nonemployee stock option grants were as follows:
|  | Year Ended December 31,
|  | 2022 |  | 2021
Risk-free interest rate |  | 1.93% |  | 0.68%
Expected volatility |  | 81.60% |  | 88.55%
Expected term (in years) |  | 5.84 |  | 6.01
Expected dividend yield |  | 0% |  | 0%
Summary of Reserved Shares of Common Stock for Future Issuance | Common stock reserved for future issuance consists of the following as of December 31, 2022 and 2021:
|  | December 31, |
|  | 2022 |  |  | 2021 |
Stock options issued and outstanding |  |  | 5,102,501 |  |  |  | 3,947,025 |
Warrants for common stock |  |  | 1,366,141 |  |  |  | 1,366,141 |
Awards available under the 2018 Equity Incentive Plan |  |  | 784,331 |  |  |  | 467,024 |
Employee stock purchase plan |  |  | 925,963 |  |  |  | 769,658 |
Total |  |  | 8,178,936 |  |  |  | 6,549,848 |

X
- Definition Common stock reserved for future issuance. + References No definition available. + Details
Name: | eq_CommonStockReservedForFutureIssuanceTableTextBlock
Namespace Prefix: | eq_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration