EQ

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Equillium, Inc.

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Key Metrics

Previous Close: $2.33
52-Week Range: $0.76 – $3.54
Market Cap: $143.94M
P/E (TTM): —
EPS (TTM): -0.09
Dividend Yield: —

Advanced Metrics

Price/Book: 2.57
PEG Ratio: —
Return on Equity: -58.98%
Return on Assets: -33.95%
Gross Margin: 0.00%
Operating Margin: 0.00%
Profit Margin: 0.00%
Current Ratio: 23.40
Debt/Equity: 0.01
Total Debt: $584.00K
Free Cash Flow: $-15.13M
Revenue Growth: —
Earnings Growth: —
Enterprise Value: $91.16M

EQ Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$15.76M	$36.08M	$41.09M	$0.00
Research & Development	$37.55M	$37.04M	$37.43M	$12.84M
Selling, General & Admin	$17.24M	$13.57M	$11.94M	$10.79M
Operating Expenses	$54.79M	$50.61M	$49.36M	$23.63M
Operating Income	-$39.03M	-$14.52M	-$8.27M	-$23.63M
EBITDA	-$61.26M	-$12.14M	-$8.13M	-$23.52M
Pretax Income	-$62.43M	-$12.76M	-$7.71M	-$22.40M
Income Tax	$0.00	$580.00K	$361.00K	$0.00
Net Income	-$62.43M	-$13.34M	-$8.07M	-$22.40M
Diluted EPS	-1.85	-0.38	-0.23	-0.39
Diluted Shares	33.73M	34.73M	35.36M	57.30M

EQ Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$59.11M	$23.22M	$18.09M	$30.28M
Receivables	$4.11M	$6.29M	$1.14M	$108.00K
Current Assets	$76.73M	$49.35M	$24.98M	$31.04M
Total Assets	$78.42M	$50.53M	$25.60M	$31.89M
Current Liabilities	$32.04M	$27.57M	$6.36M	$2.93M
Long-Term Debt	$3.24M	—	—	—
Total Debt	$10.19M	$824.00K	$384.00K	$719.00K
Total Liabilities	$46.48M	$27.96M	$6.54M	$3.29M
Retained Earnings	-$172.41M	-$185.74M	-$193.81M	-$216.21M
Shareholders' Equity	$31.94M	$22.57M	$19.06M	$28.60M
Working Capital	$44.70M	$21.78M	$18.62M	$28.10M

EQ Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$8.73M	-$21.78M	-$19.03M	-$22.75M
Capital Expenditure	-$279.00K	-$50.00K	-$85.00K	-$48.00K
Free Cash Flow	-$9.01M	-$21.83M	-$19.11M	-$22.79M
Depreciation & Amortisation	$118.00K	$126.00K	$137.00K	$116.00K
Stock-Based Compensation	$4.84M	$4.00M	$3.75M	$2.32M
Investing Cash Flow	$18.68M	-$4.76M	$13.81M	$4.46M
Financing Cash Flow	-$1.22M	-$9.23M	$164.00K	$30.43M
Share Repurchases	$0.00	-$260.00K	$0.00	—
Net Change in Cash	$8.74M	-$35.77M	-$5.05M	$12.14M

EQ Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$0.00	$0.00	$0.00	$0.00	$0.00
Research & Development	$5.92M	$4.08M	$1.30M	$1.54M	$2.99M
Selling, General & Admin	$2.95M	$2.15M	$3.27M	$2.43M	$2.62M
Operating Expenses	$8.87M	$6.23M	$4.58M	$3.96M	$5.61M
Operating Income	-$8.87M	-$6.23M	-$4.58M	-$3.96M	-$5.61M
EBITDA	-$8.84M	-$6.20M	-$4.55M	-$3.94M	-$5.59M
Pretax Income	-$8.65M	-$5.74M	-$4.23M	-$3.77M	-$5.31M
Net Income	-$8.65M	-$5.74M	-$4.23M	-$3.77M	-$5.31M
Diluted EPS	-0.24	-0.16	-0.06	-0.04	-0.06
Diluted Shares	35.59M	35.72M	65.32M	91.88M	96.28M

EQ Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$14.50M	$11.49M	$33.12M	$30.28M	$61.32M
Receivables	$1.04M	$35.00K	$123.00K	$108.00K	—
Current Assets	$16.22M	$11.95M	$33.58M	$31.04M	$62.27M
Total Assets	$16.73M	$12.40M	$34.51M	$31.89M	$63.08M
Current Liabilities	$6.00M	$7.23M	$3.09M	$2.93M	$3.35M
Total Debt	$295.00K	$259.00K	$745.00K	$719.00K	$692.00K
Total Liabilities	$6.15M	$7.34M	$3.57M	$3.29M	$3.60M
Retained Earnings	-$202.46M	-$208.20M	-$212.43M	-$216.21M	-$221.52M
Shareholders' Equity	$10.58M	$5.06M	$30.94M	$28.60M	$59.49M
Working Capital	$10.21M	$4.72M	$30.48M	$28.10M	$58.93M

EQ Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$8.17M	-$3.01M	-$8.43M	-$3.13M	-$4.30M
Capital Expenditure	-$4.00K	—	—	-$44.00K	-$3.00K
Free Cash Flow	-$8.17M	-$3.01M	-$8.43M	-$3.18M	-$4.30M
Depreciation & Amortisation	$33.00K	$32.00K	$28.00K	$23.00K	$24.00K
Stock-Based Compensation	$621.00K	$563.00K	$401.00K	$737.00K	$930.00K
Investing Cash Flow	$4.50M	$0.00	$0.00	-$32.00K	-$3.00K
Financing Cash Flow	$91.00K	-$16.00K	$30.07M	$283.00K	$35.35M
Net Change in Cash	-$3.58M	-$3.03M	$21.64M	-$2.88M	$31.04M

Market Snapshot

About

Equillium is a clinical-stage biotechnology company developing treatments for autoimmune and inflammatory disorders with high unmet medical need. The company's lead product candidate, itolizumab, is a first-in-class anti-CD6 monoclonal antibody being evaluated for acute graft-versus-host disease and other autoimmune conditions. Equillium focuses on repurposing and developing novel immunomodulatory therapies. The company's approach targets specific immune pathways to selectively modulate aberrant immune responses while preserving normal immune function.