secwatch.observer — SEC 8-K summary
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Issuer:     Equillium, Inc. (EQ)
CIK:        0001746466
Form:       8-K
Filed at:   2025-11-13T23:59:59+00:00
Accession:  0001193125-25-280173
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Equillium reports Q3 net loss of $4.2M; announces $50M financing and EQ504 Phase 1 plan for mid-2026
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- Q3 2025 revenue $0 vs $12.2M in prior year; net loss $4.2M ($0.06 per share) vs $7,000 loss in Q3 2024.
- Closed private placement of up to $50M; initial $30M tranche funded by ADAR1, Janus Henderson, Adage, Coastlands, Woodline.
- Cash and investments $33.1M at Sep 30, 2025 vs $22.6M at Dec 31, 2024; expected runway through 2027.
- EQ504 (AhR modulator) for ulcerative colitis Phase 1 study expected to initiate mid-2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1746466/000119312525280173/0001193125-25-280173-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1746466/000119312525280173/eq-20251113.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-280173

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