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.
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