Equillium, Inc. filings document a clinical-stage biotechnology issuer focused on therapies for severe autoimmune and inflammatory disorders. The company’s disclosures cover EQ504, an investigational AhR modulator, along with operating results, financial condition, research and development priorities, and capital resources tied to biotechnology development.
Regulatory filings include 8-K material-event reports, proxy materials, and registration-related disclosures. These records address annual-meeting matters, board and compensation governance, equity awards, auditor changes, common-stock offering documents, material agreements, shareholder voting matters, and capital-structure information for EQ common stock listed on the Nasdaq Capital Market.
Equillium, Inc. is a clinical‑stage biotechnology company developing therapies for severe autoimmune and inflammatory disorders, primarily its novel aryl hydrocarbon receptor modulator EQ504 and preclinical candidate EQ302. For the six months ended June 30, 2026, it reported a net loss of $10.0 million, improved from $14.4 million in 2025, driven largely by lower research and development spending following the wind down of the EQUATOR study.
Cash and cash equivalents were $57.2 million at June 30, 2026, up from $30.3 million at December 31, 2025, reflecting net $34.8 million of proceeds from a March 2026 private placement of common stock and pre‑funded warrants. Total stockholders’ equity increased to $56.0 million and accumulated deficit reached $226.2 million.
Management expects existing cash to fund operations into 2029 and at least 12 months from the filing date. The company plans to initiate a Phase 1 placebo‑controlled proof‑of‑mechanism study of EQ504 in the fourth quarter of 2026, with data anticipated about six months later, and maintains additional potential financing capacity via a $75.0 million at‑the‑market facility and up to $20.0 million of contingent August 2025 private placement proceeds tied to clinical and stock‑price milestones.
Affinity Asset Advisors, LLC and its managing member Michael Cho report beneficial ownership of Equillium Inc. common stock. As of June 30, 2026, they beneficially own 4,100,000 shares of Equillium common stock, representing 6.5% of the shares outstanding, held through Affinity Healthcare Fund, LP. They have sole voting and dispositive power over these 4,100,000 shares and no shared voting or dispositive power. The ownership percentage is based on 63,226,556 shares of Equillium common stock outstanding as of May 8, 2026.
Equillium, Inc. reported second quarter 2026 results and highlighted progress on EQ504, its aryl hydrocarbon receptor modulator for autoimmune and inflammatory diseases. A Phase 1 proof-of-mechanism study in healthy volunteers in Australia is expected to start in the fourth quarter of 2026, with topline data anticipated about six months later. IND-enabling work also began for EQ504 as an inhaled therapy for inflammatory lung diseases and for EQ302 in celiac disease, and a Clinical Advisory Board was established to guide the EQ504 ulcerative colitis program.
Cash and cash equivalents were $57.2 million at June 30, 2026, compared with $61.3 million at March 31, 2026, and $30.3 million at December 31, 2025; the company believes this cash can fund planned operations into 2029. Second quarter 2026 research and development expense was $2.8 million versus $4.1 million a year earlier, while general and administrative expense was $2.4 million versus $2.1 million. Net loss for the quarter was $4.7 million, or $(0.04) per share, compared with $5.7 million, or $(0.16) per share, in 2025. Total assets were $58.7 million and stockholders’ equity was $56.0 million at June 30, 2026.
Adage Capital Management, L.P. and affiliates report a 7.25% beneficial ownership stake in Equillium, Inc. The group, including Adage Capital Management, Robert Atchinson, and Phillip Gross, reports beneficial ownership of 4,832,767 shares of Equillium common stock, including 3,442,514 shares issuable upon exercise of warrants held by Adage Capital Partners, L.P. The ownership percentage is calculated based on 63,226,556 shares outstanding as of May 8, 2026, as disclosed in Equillium’s Form 10-Q for the quarter ended March 31, 2026. All reported shares are subject to shared voting and shared dispositive power among the reporting persons.
Equillium, Inc. submitted a Form 144 notice related to proposed sales of common stock by an affiliate. The filing lists 30,975 shares in the "Securities To Be Sold" section and records a 200,000-share sale by Stephen Connelly on 06/04/2026 reported under "Securities Sold During The Past 3 Months." The broker listed is Jefferies LLC.
Equillium, Inc. senior vice president and COO Christine Zedelmayer reported an exercise-and-sale transaction in company stock. She exercised employee stock options to acquire 14,584 shares of common stock at an exercise price of $0.7850 per share, then sold 14,584 shares in an open-market transaction at a weighted average price of $2.9304 per share.
The sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on August 27, 2025, indicating it was scheduled in advance. After these transactions, she holds 62,586 shares of common stock directly and 25,521 stock options that remain outstanding and unexercised.
Equillium, Inc. President and CSO Stephen Connelly reported open-market sales of company common stock. He sold 200,000 shares on June 4, 2026 at a weighted average price of $3.1638 per share, in multiple trades between $3.07 and $3.345.
On June 5, 2026, he sold an additional 30,975 shares at a weighted average price of $2.9401, in trades between $2.83 and $3.06. After these transactions, he directly holds 762,025 shares of Equillium common stock.
Equillium, Inc. Principal Accounting Officer Tom Penny exercised options and sold shares in a coordinated transaction. He exercised an employee stock option to acquire 65,000 shares of Common Stock at $0.785 per share, then sold 65,000 shares in an open-market transaction at a weighted average price of $2.95 per share, with individual sale prices ranging from $2.95 to $2.99. The sales were carried out under a pre-arranged Rule 10b5-1 trading plan adopted on October 10, 2025, indicating they were scheduled in advance. Following these transactions, Penny reported owning no shares of Common Stock and the corresponding option for 65,000 shares was fully exercised with no remaining balance.
Equillium, Inc. director Martha J. Demski received a grant of stock options covering 70,000 shares of common stock. The options have an exercise price of $2.84 per share and were awarded as compensation, not purchased in the open market.
The option vests in twelve equal monthly installments starting on May 28, 2026, and will in any case be fully vested by the company’s next annual meeting of stockholders following the grant date. Following this grant, Demski holds derivative rights over 70,000 shares through this option award.