Equillium shares surge 22.62% intraday after securing $50M capital infusion and exceeding Q3 2025 earnings expectations.

Equillium surged 22.62% intraday after announcing a $50 million capital infusion via private placement and better-than-expected Q3 2025 results. The clinical-stage biopharma company reported a $0.06 loss per share (vs. estimates of $0.14) and slashed R&D expenses to $1.3 million from $9.6 million year-over-year, extending its cash runway to 2027. The first $30 million tranche secured immediate liquidity, while the $250 million shelf offering and Phase-1 trials for new drug candidate EQ504—targeting a high-unmet-need market—boosted investor confidence. The rally reflects optimism over improved financial stability and the pipeline’s potential to address colitis ulcerosa, a lucrative therapeutic area.