XML 34 R25.htm IDEA: XBRL DOCUMENT v3.23.3

Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

Summary of Stock Option Activity

The following table summarizes stock option activity during the nine months ended September 30, 2023:

		Outstanding Options				Weighted- Average Exercise Price Per Share				Weighted Average Remaining Contractual Term (in years)				Aggregate Intrinsic Value (in thousands) (a)
Balance as of December 31, 2022			5,102,501			$	4.11
Granted			2,433,300			$	0.99
Exercised			-			$	-
Forfeitures and cancellations			(367,498	)		$	2.43
Balance as of September 30, 2023 (b)			7,168,303			$	0.91				7.78			$	29
Options exercisable as of September 30, 2023 (b)			3,574,240			$	1.05				6.72			$	4

(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 September 29, 2023 of $0.74 and the price of the underlying options.

(b) The weighted-average exercise price per share of the options outstanding and exercisable as of September 30, 2023 includes the impact of the repricing of 6,628,589 options on August 14, 2023 at $0.785 per share.

Summary of Non-cash Stock-based Compensation Expense

The non-cash stock-based compensation expense for all stock awards, net of forfeitures recognized as they occur, that was recognized in the condensed consolidated statements of operations is as follows (in thousands):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2023				2022				2023				2022
Research and development		$	366			$	469			$	1,153			$	1,411
General and administrative			613				720				1,798				2,378
Total		$	979			$	1,189			$	2,951			$	3,789

Summary of Reserved Shares of Common Stock for Future Issuance

Common stock reserved for future issuance is as follows:

		September 30, 2023				December 31, 2022
Stock options issued and outstanding			7,168,303				5,102,501
Warrants for common stock			1,366,141				1,366,141
Awards available under the 2018 Equity Incentive Plan			439,236				784,331
Employee stock purchase plan			1,114,887				925,963
Total			10,088,567				8,178,936

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
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ 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
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration