Equillium Q1 net loss narrows to $5.3M; EQ504 Phase 1 on track for mid-2026

Equillium, Inc.

2026-Q1 EPS reported -$0.06 vs consensus -$0.04 ▼ miss (-34.5%)

Q1 net loss of $5.3M ($0.06/sh) vs. $8.7M ($0.24/sh) in Q1 2025; R&D spending down to $3.0M.
Cash and equivalents $61.3M as of March 31, 2026; funded into 2029; includes $35M March private placement.
Phase 1 proof-of-mechanism study of EQ504 (AhR modulator) on track for mid-2026, data ~6 months later.
Appointed Snehal Naik, Ph.D., as Chief Development Officer; she brings >15 years immunology experience.
Evaluating further advancement of EQ302 (IL-15/IL-21 inhibitor) for GI indications.

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