Equillium Inc. (NASDAQ:EQ) stock traded higher Monday after the company announced up to $50 million in financing through a securities purchase agreement with investors to advance EQ504.
Check out EQ stock price now.
What To Know: The private placement includes an initial $30 million in gross proceeds in exchange for approximately 52.6 million shares of common stock, or pre-funded warrants, at 57 cents per share. Equillium may receive up to an additional $20 million upon achieving milestones related to clinical study initiation and share price.
The financing is led by ADAR1 Capital Management and Janus Henderson Investors, with participation from Adage Capital Partners LP, Coastlands Capital, and Woodline Partners LP.
Equillium plans to use the proceeds to support a Phase 1 proof-of-mechanism study of EQ504, scheduled to begin in mid-2026, with data expected about six months later.
EQ Price Action: Equillium stock closed Monday 78.88% higher at 89 cents, according to data from Benzinga Pro.
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