Highest-materiality recent filing
Equillium Q1 net loss narrows to $5.3M; EQ504 Phase 1 on track for mid-2026
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.
Equillium Q4 2025 revenue $0, net loss $3.8M; cash runway into 2029 after $35M financing
Q4 2025 revenue $0 (vs $4.4M Q4 2024); FY2025 revenue $0 (vs $41.1M FY2024 from Ono deal).
Equillium raises ~$35M in private placement with RA Capital to fund EQ504
Issued 1,179,508 shares at $1.854/share and pre-funded warrant for up to 17,698,593 shares at $0.0001 exercise price.
Equillium reports Q3 net loss of $4.2M; announces $50M financing and EQ504 Phase 1 plan for mid-2026
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.
Equillium ends Biocon itolizumab deal, dismisses KPMG, two directors resign
Terminated collaboration with Biocon; all itolizumab licenses reverted. Technical service fee of $363k set-off against amounts owed.
Equillium ups ATM facility to $75M from $21.95M; prior sales $0.96M
Filed prospectus supplement to increase aggregate offering price of common stock under existing Sales Agreement to $75M.
Equillium raises $30M in private placement; cash runway through 2027
Initial closing of 21.8M shares at $0.57/sh and pre-funded warrants for 30.8M shares, gross proceeds $30M.
Equillium adopts crypto treasury strategy; cash $11.5M, runway into Q4 2025; going concern doubt
Cash and cash equivalents $11.5M as of June 30, 2025; expects to fund operations into Q4 2025.
Equillium stockholders approve reverse stock split and equity plan amendment
Stockholders authorized reverse stock split at ratio 1:2 to 1:20, with board discretion on timing and ratio.
FDA declined Breakthrough Therapy designation and Accelerated Approval for itolizumab in aGVHD based on EQUATOR study data.
Equillium Reports Q4 and Full Year 2024 Financial Results and Provides Clinical Updates
Phase 3 EQUATOR study in aGVHD: primary endpoint not met, but statistically significant longer-term outcomes (CR at Day 99, duration of CR, failure-free survival).
Equillium reports itolizumab Phase 2 UC topline: 23.3% clinical remission vs 10% placebo
Primary endpoint: 23.3% clinical remission at week 12 for itolizumab vs 20.0% adalimumab, 10.0% placebo.
Equillium receives Nasdaq minimum bid price non-compliance notice; cure period until June 11, 2025
Nasdaq notified Equillium on Dec 13, 2024 that common stock bid price was below $1.00 for 30 consecutive business days.
Equillium Q3 revenue $12.2M, net loss near zero; retains itolizumab rights after Ono termination
Q3 revenue $12.2M (up 37% YoY) from Ono partnership; net loss ~$7,000 vs $3.7M loss in Q3 2023.
Ono's option to acquire itolizumab (EQ001) lapsed; Equillium retains all commercial rights to itolizumab.
Equillium Q2 net income $0.5M, revenue $13.9M; Ono itolizumab option decision by Oct 2024
Net income $0.5M ($0.01 EPS) vs net loss $3.3M in Q2 2023; revenue $13.9M (all from Ono collaboration), up from $9.1M.
Equillium receives Nasdaq bid price deficiency notice; cure deadline Jan 15, 2025
Received Nasdaq notice on July 19, 2024 for bid price below $1.00 for 30 consecutive business days.
Of 25 completers (baseline SALT 35-100), 20% reached SALT ≤20 at week 24; mean SALT improvement 13.5%.
Equillium stockholders approve reverse stock split amendment at annual meeting
Approved amendment to certificate of incorporation for reverse stock split at ratio of 1:2 to 1:10, with board discretion on timing and ratio.
Equillium Q1 revenue $10.7M, net loss $2.7M; positive lupus data, milestones ahead
Revenue of $10.7M, up from $8.9M YoY, all from Ono partnership (development funding and amortization).
Equillium reports positive Phase 1b itolizumab data in lupus nephritis
Topline data: 16 patients; baseline mean UPCR 4.9 g/g → ~73% reduction; overall response rate 81.3% (CR+PR).
Equillium reports $40.9M cash; EQ101 Phase 2 topline due Q2; Ono itolizumab option decision 2H 2024
Cash $40.9M at Dec 31, 2023; runway into 2H 2025.
Equillium regains Nasdaq compliance with $1.00 minimum bid price rule
Received Nasdaq letter on Feb 21, 2024 confirming compliance with Bid Price Rule.
Equillium completes EQ101 Phase 2 enrollment for alopecia areata; advances EQ302 over EQ102
Completed enrollment of 36 patients in EQ101 Phase 2 study for alopecia areata; topline data expected Q2 2024.
Equillium Q3 net loss narrows to $3.7M; lupus trial meets endpoints
Net loss $3.7M ($0.11 per share) vs $13.7M loss in Q3 2022, driven by $8.9M revenue from Ono partnership.
Equillium presents pre-clinical data for oral EQ302 targeting IL-15/IL-21; analysts day held
EQ302 is an orally deliverable multi-cytokine inhibitor targeting IL-15 and IL-21.
Equillium enters new ATM equity facility with Jefferies; gets Nasdaq extension to April 2024
New ATM offering agreement with Jefferies; 3.0% commission on gross proceeds; no maximum offering amount disclosed.
Equillium Q2 2023 net loss narrows to $3.3M; cash $48.4M; stock repurchase authorized
Revenue of $9.1M from Ono partnership; net loss $0.10/sh vs $0.41/sh loss year ago.
Equillium Q1 net loss narrows to $3.9M; cash $62M funds into 2025; Ono partnership revenue $8.9M
Net loss of $3.9M ($0.11 per share) vs $37.4M loss in Q1 2022; decrease due to Ono revenue and no Bioniz acquisition costs.
Equillium receives Nasdaq bid price deficiency notice; has until Oct 2, 2023 to regain compliance
Nasdaq notified Equillium on April 5, 2023 that its common stock bid price closed below $1.00 for 30 consecutive business days.
Equillium Q4 2022: $15.8M revenue from Ono deal, net income $2.8M; cash $71M into 2025
Revenue of $15.8M in Q4 2022 from Ono Pharmaceutical asset purchase agreement; no revenue in prior year period.
Equillium and Metacrine mutually terminate merger; no fee; cash runway extended via Ono partnership
Merger agreement terminated effective Dec 23, 2022; no termination fee payable.
Equillium amends merger disclosures following three Metacrine stockholder lawsuits
Three lawsuits filed by Metacrine stockholders challenge disclosures in joint proxy for merger with Equillium.
Equillium receives $26M upfront from Ono for itolizumab option; up to $138.5M in milestones
Upfront payment of $26.0M (¥3.5B) non-refundable; option exercise payment of $37.1M (¥5.0B) if exercised.
Equillium Q3 net loss $13.7M ($0.40/shr); Metacrine deal to add $35M cash
Net loss $13.7M ($0.40/shr) vs $10.3M ($0.35) in Q3 2021; R&D $8.8M, G&A $4.5M.
Equillium reports interim itolizumab data in LN: 50% CR at week 28, 67% >80% UPCR reduction
Baseline mean UPCR 5.8 g/g; 13 subjects enrolled, 11 reached week 12, 6 reached week 28/EOS.
Equillium files Metacrine financials and pro forma statements for pending merger
Metacrine 2021 net loss $62.2M; accumulated deficit $182.95M as of Dec 31, 2021.
Equillium to acquire Metacrine in all-stock deal; adds $33M cash, MET642 candidate
All-stock merger adds ~$33M cash to Equillium's balance sheet, extending runway into 2024.
Equillium Q2 net loss $14.1M (-$0.41/sh); cash $57.6M; clinical pipeline on track
Net loss $14.1M, or $(0.41) per share, vs $9.2M ($0.31) in Q2 2021; R&D spend $9.5M.
On March 6, 2024, the Board of Directors (the “Board”) of Equillium, Inc. (the “Company”) appointed Penny Tom, the Company’s Senior Vice President, Finance, as the Company’s principal accounting officer (to replace Jason Keyes, the Company’s Chief Financial Officer, in such role).
Effective February 24, 2022, the Board increased the number of directors to nine and appointed Dr. Barbara Troupin, M.D., as a class I director of the Company, effective immediately.
Max materiality 0.85 · Median 0.65 · Most common event other_material