NASDAQ$EQ
Equillium Inc · Q4 2025 earnings
Q4 2025 earnings · · Before market open · Investor relations
Briefing
Equillium reported Q1 2026 net loss of $5.3M ($0.06 per share) with $61.3M cash and no product revenue.
For the quarter ended March 31, 2026, Equillium had no product revenue. R&D expense was $3.0 million (down from $5.9 million) and G&A $2.6 million. Net loss was $5.3 million, or $0.06 per basic and diluted share, versus $8.7 million ($0.24) a year ago. Cash and equivalents were $61.3 million after a March $35 million private placement; management believes cash funds planned operations into 2029.
- Net loss narrowed to $5.3M on lower R&D spend.
- Cash $61.3M after $35M March financing.
- EQ504 Phase 1 proof-of-mechanism study targeted mid-2026.
- Preclinical data presented at IMMUNOLOGY2026.
Headline financials
Revenue & EPS history
Equillium · Revenue · Quarterly
$0
Forward guidance
Management expects cash on hand to fund currently planned operations into 2029, subject to assumptions, and plans EQ504 Phase 1 initiation in mid-2026 with data ~six months later.
Tailwinds
- Reduced burn versus prior-year quarter.
- Strong cash runway post-raise.
Headwinds
- No product revenue yet; clinical execution risk on EQ504.
- Losses expected until commercialization.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2025
+1.0%
Avg return
Earnings day
-0.2%
Avg return
5 days after
-1.3%
Avg return
30 days after
55%
17 / 31 earnings
Positive
+42.0%
Q3 2020
Best reaction
-27.0%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | +1.8% | -18.9% | — | |
| Q3 2025 | +23.8% | +20.2% | +52.4% | |
| Q2 2025 | +16.3% | +16.3% | +90.8% | |
| Q1 2025 | +5.4% | +5.4% | -5.4% | |
| Q1 2026 | +5.4% | +5.4% | -5.4% | |
| Q4 2024 | -2.5% | -10.0% | -16.0% | |
| Q3 2024 | -19.5% | -20.0% | -17.6% | |
| Q2 2024 | -4.6% | +0.0% | +27.4% | |
| Q1 2024 | -10.0% | -9.4% | -52.9% | |
| Q4 2023 | -27.0% | -18.1% | -36.5% | |
| Q3 2023 | -1.8% | +0.0% | +22.0% | |
| Q2 2023 | +3.9% | +2.6% | +6.5% | |
| Q1 2023 | +3.6% | +7.1% | +17.9% | |
| Q4 2022 | +12.3% | +10.8% | -4.6% | |
| Q3 2022 | +6.5% | +5.9% | -28.2% | |
| Q2 2022 | +1.4% | -1.8% | -25.5% | |
| Q1 2022 | +3.7% | +13.8% | +0.0% | |
| Q4 2021 | +0.0% | -9.1% | -10.3% | |
| Q3 2021 | -13.6% | -14.5% | -27.0% | |
| Q2 2021 | +2.7% | +2.2% | -2.4% | |
| Q1 2021 | +6.1% | +22.3% | +19.0% | |
| Q4 2020 | -8.5% | -12.7% | -19.5% | |
| Q3 2020 | +42.0% | +27.6% | +34.1% | |
| Q2 2020 | -12.8% | -29.7% | -45.0% | |
| Q1 2020 | -14.9% | -20.6% | -19.7% | |
| Q4 2019 | -1.1% | +2.3% | +7.5% | |
| Q3 2019 | -1.2% | +7.1% | +45.7% | |
| Q2 2019 | -0.5% | +7.1% | -0.5% | |
| Q1 2019 | +2.0% | +2.5% | +0.3% | |
| Q4 2018 | +6.1% | +9.2% | -20.2% | |
| Q3 2018 | +6.4% | -8.7% | -24.5% | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — |
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