EQ Stock — Equillium Inc.: Cash, EV, Pipeline

Share price

$1.92

Market cap

$121.7M

Cash

$57.2M

Enterprise value

$64.5M

Balance sheet

Cash	$57.2M
Debt	$0.0M
Net cash	$57.2M
Enterprise value	$64.5M
Basic shares	63.4M shares
Fully diluted shares	127.5M shares
Fully diluted market cap	$244.7M
Cash per share	$0.90

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Pipeline assets

EQ504

Preclinical · Active Modality: AhR modulator

Target AhR (aryl hydrocarbon receptor)

Indications

ulcerative colitis (Stage not disclosed)
other gastrointestinal diseases (Stage not disclosed)
inflammatory lung diseases (potential expansion) (Stage not disclosed)

Catalysts

— None

Status note Preclinical-stage AhR modulator. Phase 1 proof-of-mechanism study initiation planned for the fourth quarter of 2026.

EQ302

Preclinical · Active Modality: bi-specific IL-15/IL-21 inhibitor; oral delivery formulation

Target IL-15 / IL-21

Partnerships Bioniz Therapeutics (acquired February 2022; exclusive worldwide rights; up to $5M regulatory milestones for EQ302)

Indications

celiac disease (Stage not disclosed)
gastrointestinal diseases (Stage not disclosed)

Status note Bi-specific IL-15/IL-21 inhibitor formulated for oral delivery. IND-enabling development activities initiated.

Per-asset detail extracted from the 10-Q filed 2026-08-13. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

No lead program on file for this company.

No active ClinicalTrials.gov trials matched to this company as sponsor or collaborator.

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
ADAR1 Capital Management	3,758,569	+31,910	0.57%	2026-08-14
Ikarian Capital	303,555	no change	0.16%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

EQ — Equillium Inc.

Balance sheet

Price history

Pipeline assets

Institutional holders