---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-238883"
form_type: "8-K"
ticker: "EQ"
cik: "0001746466"
company_name: "Equillium, Inc."
filed_at: "2022-09-06T23:59:59+00:00"
generated_at: "2026-06-23T15:35:41.267254+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Equillium to acquire Metacrine in all-stock deal; adds $33M cash, MET642 candidate

## Summary
- All-stock merger adds ~$33M cash to Equillium's balance sheet, extending runway into 2024.
- Transaction valued at 25% premium over Metacrine net cash (~$26M); EQ shares priced between $2.70 and $4.50.
- Equillium assumes $15M Metacrine debt from K2 HealthVentures; retires its own $10M Oxford/SVB facility.
- Acquisition includes MET642, a Phase 2-ready oral FXR agonist for ulcerative colitis; strategic partner sought.
- Preston Klassen (Metacrine CEO) appointed to Equillium board; no Metacrine employees retained. Closing late 2022.

## SEC filing metadata
- accession: 0001193125-22-238883
- form_type: 8-K
- ticker: EQ
- cik: 0001746466
- company_name: Equillium, Inc.
- filed_at: 2022-09-06T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1746466/000119312522238883/0001193125-22-238883-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1746466/000119312522238883/d336866d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-238883
- JSON: https://secwatch.observer/filing/0001193125-22-238883.json
- Plain text: https://secwatch.observer/filing/0001193125-22-238883.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.