Equillium amends merger disclosures following three Metacrine stockholder lawsuits

Equillium, Inc.

Three lawsuits filed by Metacrine stockholders challenge disclosures in joint proxy for merger with Equillium.
Equillium and Metacrine voluntarily supplement proxy with new details on deal background, valuation analyses, and projections.
Supplement includes corrected PIPE study data, revised comparable company analysis, and updated discounted cash flow projections.
Initial proposal valued Metacrine at ~$28M; final offer of $37.5M all-stock plus CVRs up to $22.5M for MET642 milestones.
Companies deny allegations but add disclosures to avoid nuisance and delay; no admission of materiality.

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