Financing ·
Equillium raises $20M in equity private placement upon dosing first patient in EQ504 Phase 1 trial
EQEquillium, Inc.
Equillium, Inc. announced the dosing of its first subject in a Phase 1 single ascending dose clinical trial for EQ504, an investigational oral colon-targeted aryl hydrocarbon receptor modulator being developed for severe autoimmune and inflammatory disorders. This event triggered the Milestone Closing under a previously announced equity private placement agreement dated August 2025. The company issued 14,957,260 shares of common stock at $0.57 per share and 20,130,457 pre-funded warrants at $0.5669 per warrant, generating aggregate gross proceeds of approximately $20.0 million. This brings total equity private placement proceeds to approximately $50 million. The company expects these funds, combined with existing cash, to support operations into 2029. Equillium is a biotechnology innovator developing novel therapies for severe autoimmune and inflammatory disorders.