Equillium shares surge 25% after-hours on $50M capital infusion and better-than-expected Q3 results.

Equillium surged 25% in after-hours trading following the announcement of a $50 million capital infusion and better-than-expected Q3 2025 results. The company reported a $0.06 loss per share, exceeding analyst estimates, and slashed R&D expenses by 89% year-over-year to $1.3 million, extending its cash runway to 2027. The private placement and $250 million shelf offering provide liquidity to advance its lead candidate EQ504 into Phase 1 trials for ulcerative colitis, a high-growth therapeutic area. The rally reflects investor optimism about renewed financial stability and the potential of EQ504 to address a significant unmet medical need.