Equillium stock jumps on $35M financing from RA Capital Management

* Equillium (EQ [https://seekingalpha.com/symbol/EQ]) shares rose 13% premarket after the biotechnology firm secured [https://seekingalpha.com/pr/20436634-equillium-announces-35-million-financing-with-ra-capital-management]about $35M in new financing to advance its clinical development of EQ504, an investigational AhR modulator intended to treat ulcerative colitis locally.
* Pursuant to a securities purchase agreement with RA Capital Management, the company will issue around 18.9M shares of its common stock (including shares of common stock underlying pre-funded warrants), representing a purchase price of $1.854 for each share of common stock.
* Equillium intends to use the net proceeds from the financing for further advancement of EQ504, working capital, and general corporate purposes.
* The anticipated net proceeds, along with existing cash and cash equivalents, are expected to extend the cash runway into 2029.

MORE ON EQUILLIUM

* Equillium: Multi-Cytokine Platform To Go Beyond Scope Of EQ504 For UC [https://seekingalpha.com/article/4874813-equillium-multi-cytokine-platform-to-go-beyond-scope-of-eq504-for-uc]
* Seeking Alpha’s Quant Rating on Equillium [https://seekingalpha.com/symbol/EQ/ratings/quant-ratings]
* Historical earnings data for Equillium [https://seekingalpha.com/symbol/EQ/earnings]
* Financial information for Equillium [https://seekingalpha.com/symbol/EQ/income-statement]