secwatch.observer — SEC 8-K summary
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Issuer:     Equillium, Inc. (EQ)
CIK:        0001746466
Form:       8-K
Filed at:   2025-10-06T23:59:59+00:00
Accession:  0001193125-25-231860
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 4.01, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Equillium ends Biocon itolizumab deal, dismisses KPMG, two directors resign
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1746466/000119312525231860/0001193125-25-231860-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1746466/000119312525231860/d930780d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-231860

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