Equillium, Inc. EQ
We are a biotechnology innovator developing novel therapies to treat severe autoimmune and inflammatory disorders with the mission to develop life-changing therapeutics for patients. Our primary goal is to advance EQ504, a novel aryl hydrocarbon receptor, or AhR, modulator, into and through clinical development.
EQ504 is a preclinical-stage, novel AhR modulator that in multiple translational models has been shown to have a therapeutically beneficial impact inducing anti-inflammatory cells and cytokines while reducing proinflammatory cells and cytokines and improving intestinal tissue barrier function and repair. We initially intend to develop EQ504 for the treatment of ulcerative colitis, or UC, and other gastrointestinal, or GI, diseases with potential indication expansion opportunities for the treatment of inflammatory lung diseases.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $41.1M | $36.1M | $15.8M | — | — | — | — | — | — |
| R&D | — | — | $37.0M | $37.5M | $26.4M | $19.4M | $17.6M | $4.9M | — | — |
| SG&A | $10.8M | $11.9M | $13.6M | $17.2M | $11.4M | $10.2M | $9.1M | $3.7M | — | — |
| Total operating expenses | $23.6M | $49.4M | $50.6M | $77.8M | $37.8M | $29.5M | $26.7M | $8.6M | — | — |
| Operating income | -$23.6M | -$8.3M | -$14.5M | -$62.1M | -$37.8M | -$29.5M | -$26.7M | -$8.6M | — | — |
| Pre-tax income | -$22.4M | -$7.7M | -$12.8M | -$62.4M | -$39.1M | -$29.8M | -$25.6M | -$13.2M | — | — |
| Income tax | $0 | $361.0K | $580.0K | $0 | $0 | $0 | — | — | — | — |
| Net income | -$22.4M | -$8.1M | -$13.3M | -$62.4M | -$39.1M | -$29.8M | -$25.6M | -$13.2M | — | — |
| EPS, basic | -0.39 | -0.23 | -0.38 | -1.85 | -1.36 | — | — | — | — | — |
| EPS, diluted | -0.39 | -0.23 | -0.38 | -1.85 | -1.36 | -1.46 | -1.47 | -1.09 | — | — |
| Shares, diluted (wtd. avg.) | 57.3M | 35.4M | 34.7M | 33.7M | 28.8M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $30.3M | $18.1M | $23.2M | $59.1M | $50.4M | $24.0M | $13.2M | $28.5M | $7.1M | — |
| Short-term investments | — | $4.5M | $17.6M | $11.9M | $30.3M | $58.2M | $39.9M | $37.4M | $0 | — |
| Receivables | — | $0 | $3.7M | $2.8M | $0 | — | — | — | — | — |
| Total current assets | $31.0M | $25.0M | $49.3M | $76.7M | $83.4M | $85.2M | $55.4M | $67.1M | $7.1M | — |
| Property, plant and equipment | $164.0K | $262.0K | $315.0K | $391.0K | $237.0K | $239.0K | $93.0K | $64.0K | $2.1K | — |
| Total assets | $31.9M | $25.6M | $50.5M | $78.4M | $85.4M | $85.4M | $55.5M | $67.2M | $7.2M | — |
| Accounts payable | $755.0K | $2.7M | $4.7M | $4.0M | $1.2M | $2.8M | $1.9M | $1.1M | $243.7K | — |
| Short-term debt | — | — | — | $5.7M | $1.4M | $1.7M | — | — | — | — |
| Total current liabilities | $2.9M | $6.4M | $27.6M | $32.0M | $8.9M | $7.2M | $3.9M | $2.0M | $568.8K | — |
| Long-term debt | — | — | — | $3.2M | $8.8M | $8.3M | $9.7M | — | — | — |
| Total liabilities | $3.3M | $6.5M | $28.0M | $46.5M | $18.9M | $15.6M | $13.7M | $2.2M | $9.4M | — |
| Retained earnings | -$216.2M | -$193.8M | -$185.7M | -$172.4M | -$110.0M | -$70.9M | -$41.1M | -$15.5M | -$2.3M | — |
| Total equity | $28.6M | $19.1M | $22.6M | $31.9M | $66.5M | $69.9M | $41.8M | $64.9M | -$2.3M | $0 |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$22.7M | -$19.0M | -$21.8M | -$8.7M | -$32.1M | -$24.6M | -$22.9M | -$7.5M | — | — |
| Depreciation and amortisation | $116.0K | $137.0K | $126.0K | $118.0K | $72.0K | $45.0K | $23.0K | $6.0K | — | — |
| Stock-based compensation | $2.3M | $3.8M | $4.0M | $4.8M | $4.4M | $3.8M | $2.3M | $442.0K | — | — |
| Capital expenditure | $48.0K | $85.0K | $50.0K | $279.0K | $57.0K | $202.0K | $74.0K | $35.0K | — | — |
| Investing cash flow | $4.5M | $13.8M | -$4.8M | $18.7M | $27.4M | -$18.6M | -$2.2M | -$37.4M | — | — |
| Financing cash flow | $30.4M | $164.0K | -$9.2M | -$1.2M | $31.1M | $53.9M | $9.8M | $66.4M | — | — |
| Buybacks | — | — | $260.0K | — | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-156092.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | $15.8M | $36.1M | $41.1M | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | — | — | -$13.2M | -$25.6M | -$29.8M | -$39.1M | -$62.4M | -$13.3M | -$8.1M | -$22.4M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Results announced Item 2.02
- Auditor changed The company changed auditors. Sometimes routine; historically one of the more reliable warnings that something is wrong. Item 4.01
- Auditor changed Item 4.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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