---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-231860"
form_type: "8-K"
ticker: "EQ"
cik: "0001746466"
company_name: "Equillium, Inc."
filed_at: "2025-10-06T23:59:59+00:00"
generated_at: "2026-05-17T04:36:25.304828+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Equillium ends Biocon itolizumab deal, dismisses KPMG, two directors resign

## Summary
- Terminated collaboration with Biocon; all itolizumab licenses reverted. Technical service fee of $363k set-off against amounts owed.
- Dismissed KPMG as auditor (effective Sep 30); engaged Crowe LLP pending finalization. KPMG reports had going-concern qualification.
- Directors Stephen Connelly (Ph.D.) and Bala Manian (Ph.D.) resigned effective Oct 1; board reduced from 9 to 7.
- Appointed Dr. Connelly as President (remains CSO); no comp change. Daniel Bradbury shifted from Executive Chairman to Chairman.

## SEC filing metadata
- accession: 0001193125-25-231860
- form_type: 8-K
- ticker: EQ
- cik: 0001746466
- company_name: Equillium, Inc.
- filed_at: 2025-10-06T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 4.01, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1746466/000119312525231860/0001193125-25-231860-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1746466/000119312525231860/d930780d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-231860
- JSON: https://secwatch.observer/filing/0001193125-25-231860.json
- Plain text: https://secwatch.observer/filing/0001193125-25-231860.txt

## Source-grounded claims
- claim_id: 4eff02cdb4e28423824f0aef7630ffe85a736266
  claim: Equillium, Inc. engaged Crowe LLP as its auditor.
  evidence_excerpt: On September 30, 2025, the Audit Committee approved the engagement of Crowe LLP (“Crowe”) as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2025, subject to the execution of an engagement letter and completion of Crowe’s standard client acceptance procedures.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1746466/000119312525231860/0001193125-25-231860-index.htm
- claim_id: ae435d79984e4b3458d2d7742b26c35e799143e2
  claim: Equillium, Inc. dismissed KPMG LLP as its auditor.
  evidence_excerpt: On September 30, 2025, the Audit Committee (the “Audit Committee”) of the Board of Directors (the “Board”) of Equillium, Inc. (the “Company”) approved dismissal of KPMG LLP (“KPMG”) as the Company’s independent registered public accounting firm, with such dismissal to become effective on September 30, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1746466/000119312525231860/0001193125-25-231860-index.htm

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