EQ
Equillium, Inc.1.2100
-0.0100-0.82%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
73.68MP/E (TTM)
-Basic EPS (TTM)
-0.58Dividend Yield
0%Recent Filings
10-Q
Q3 FY2025 results
Equillium posted a Q3 net loss of $4.2M, narrower than the near-breakeven $7K loss y/y yet wider than Q2's $5.7M (derived), as revenue vanished to $0 from $12.2M y/y after Ono's itolizumab option expired October 2024. R&D plunged 86% y/y to $1.3M from wind-down of EQ101/EQ102 trials and vendor discounts, while G&A held steady; other income covered $0.3M. Cash swelled to $33.1M (up from $18.1M YE2024) via $30M private placement (21.8M shares at $0.57, 30.8M pre-funded warrants), funding EQ504 Phase 1 by mid-2026. Operating cash burn hit $19.6M YTD (vs $15.7M y/y). No debt. Private Placement closed August 2025 for $30M gross (net $27.9M), with $20M milestone tranche tied to EQ504 IND clearance and $2.50/share VWAP. Nasdaq compliance restored. Substantial funding needs loom.
8-K
Secures $30M funding boost
Equillium closed a $50M private placement on August 11, 2025, with $30M upfront from investors like ADAR1 and Janus Henderson, extending runway through 2027. Q3 revenue dropped to $0 from $12.2M last year amid itolizumab wind-down, slashing R&D to $1.3M; net loss hit $4.2M. EQ504 Phase 1 launches mid-2026. Cash fuels the pivot.
8-K
Auditor switch and Biocon termination
Equillium dismissed KPMG as its auditor and engaged Crowe for 2025, amid ongoing going concern doubts from prior reports, while two directors resigned without disagreements, shrinking the board to seven. Dr. Stephen Connelly shifted from chief scientific officer to president, and the company terminated its Biocon collaboration, reverting itolizumab rights for a $363,000 set-off fee. Leadership realigns swiftly. This clears old ties but spotlights financial pressures.
8-K
Expands ATM offering to $75M
Equillium filed a prospectus supplement on September 19, 2025, expanding its at-the-market offering to up to $75 million in common stock shares under the existing Sales Agreement with LifeSci Capital. This boosts the prior $21.95 million capacity, after selling 1,719,485 shares for $0.96 million in gross proceeds. Funds will support general corporate needs. No specific use or risks detailed.
8-K
Regains Nasdaq compliance
Equillium, Inc. regained Nasdaq compliance on August 29, 2025, after its common stock maintained a closing bid price of $1.00 or more for 10 consecutive business days ending August 28. This resolves prior deficiencies flagged in December 2024 and extended in June 2025. Compliance secured. The move stabilizes listing status amid ongoing biotech pressures.
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