secwatch.observer — SEC 8-K summary
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Issuer:     Equillium, Inc. (EQ)
CIK:        0001746466
Form:       8-K
Filed at:   2022-12-06T23:59:59+00:00
Accession:  0001193125-22-298869
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Equillium receives $26M upfront from Ono for itolizumab option; up to $138.5M in milestones
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- Upfront payment of $26.0M (¥3.5B) non-refundable; option exercise payment of $37.1M (¥5.0B) if exercised.
- Eligible for up to $101.4M development milestones, plus exercise payment, total up to ~$138.5M.
- Ono will fully fund Equillium's R&D for itolizumab quarterly from July 1, 2022 through option period.
- Option expires 3 months after topline EQUALISE (lupus nephritis) and interim EQUATOR (aGVHD) data.
- Equillium expects funding into 2025; advancing wholly-owned pipeline (EQ101, EQ102).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1746466/000119312522298869/0001193125-22-298869-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1746466/000119312522298869/d348600d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-298869

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer