---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-124107"
form_type: "8-K"
ticker: "EQ"
cik: "0001746466"
company_name: "Equillium, Inc."
filed_at: "2026-03-25T23:59:59+00:00"
generated_at: "2026-05-15T09:02:29.337228+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Equillium Q4 2025 revenue $0, net loss $3.8M; cash runway into 2029 after $35M financing

## Summary
- Q4 2025 revenue $0 (vs $4.4M Q4 2024); FY2025 revenue $0 (vs $41.1M FY2024 from Ono deal).
- Net loss Q4 2025 $3.8M ($0.04/share); full year 2025 loss $22.4M ($0.39/share), up from $8.1M loss in 2024.
- Cash & equivalents $30.3M at Dec 31, 2025; plus $35M private placement from RA Capital in March 2026.
- EQ504 Phase 1 proof-of-mechanism study expected to start mid-2026 with data ~6 months later.
- Company believes cash runway funds planned operations into 2029.

## SEC filing metadata
- accession: 0001193125-26-124107
- form_type: 8-K
- ticker: EQ
- cik: 0001746466
- company_name: Equillium, Inc.
- filed_at: 2026-03-25T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1746466/000119312526124107/0001193125-26-124107-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1746466/000119312526124107/eq-20260325.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-124107
- JSON: https://secwatch.observer/filing/0001193125-26-124107.json
- Plain text: https://secwatch.observer/filing/0001193125-26-124107.txt

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