Equillium Announces $35 Million Financing with RA Capital Management

Core Viewpoint - Equillium, Inc. has secured approximately $35 million in gross proceeds through a definitive securities purchase agreement with RA Capital Management, which will support the advancement of its investigational therapy EQ504 and extend its cash runway into 2029 [1][4][12] Financing Details - The company will issue approximately 18.9 million shares of common stock at a purchase price of $1.854 per share, based on the average closing price over the five trading days prior to the financing [2] - The gross proceeds from this financing are expected to be $35 million before expenses [2] Use of Proceeds - The net proceeds from the financing will be utilized to further advance the clinical development of EQ504, for working capital, and for general corporate purposes [3] Product Information - EQ504 is an investigational aryl hydrocarbon receptor (AhR) modulator designed for oral administration, targeting ulcerative colitis (UC) with potential as a standalone therapy or in combination with other treatments [4][8] - The product is designed to provide targeted, local delivery for gastrointestinal diseases and may also have applications in inflammatory lung diseases [8] Advisory and Compliance - LifeSci Capital is acting as the financial advisor for Equillium [5] - The securities issued in this financing are part of a private placement and have not been registered under the Securities Act of 1933, meaning they cannot be sold in the U.S. without proper registration or exemption [6]