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Equillium Announces Strategic Expansion of Cryptocurrency Treasury Reserve Strategy
LA JOLLA, Calif.--(BUSINESS WIRE)-- Equillium, Inc. (Nasdaq: EQ), a biotechnology innovator developing novel therapies to treat severe autoimmune and
About this update from Equillium, Inc.
[{"type":"text","content":" LA JOLLA, Calif.--(BUSINESS WIRE)--\nEquillium, Inc. (Nasdaq: EQ), a biotechnology innovator developing novel therapies to treat severe autoimmune and inflammatory disorders, today announced a strategic expansion to integrate a cryptocurrency treasury reserve strategy as part of its broader financial and growth objectives.\n\n\n“As we are actively evaluating strategic options for the company, I am pleased to announce we have expanded our treasury strategy to include digital currencies for the diversification, liquidity and long-term capital appreciation potential they represent,” stated Bruce Steel, Chief Executive Officer of Equillium. “Following a thorough review of the sector, the Board and I have concluded that the addition of this strategy is in the best interests of our stockholders, and we have updated our treasury investment policy accordingly. We look forward to providing additional updates on this strategy during the third quarter of 2025.”\n\n\nIn parallel with the addition of the cryptocurrency treasury strategy, the company will continue to pursue its biotech mission to advance life-changing therapeutics towards patients with the goal of preparing EQ504, its novel aryl hydrocarbon receptor modulator, for clinical development.\n\n\nAs of June 30, 2025, the company had cash and cash equivalents totaling approximately $11.5 million. Based on implemented and ongoing operating changes to decrease its expenditures and conserve cash, the company expects that its existing cash and cash equivalents will enable it to fund operations into the fourth quarter of 2025, based on certain assumptions and estimates that may prove to be inaccurate.\n\n\nAbout Preliminary Financial Results\n\n\nThe preliminary results set forth above are unaudited, are based on management’s initial review of the company’s results for the quarter ended June 30, 2025, and are subject to revision based upon the company’s quarter-end closing procedures. Actual results may differ from the preliminary unaudited results following the completion of quarter-end closing procedures, final adjustments or other developments arising between now and the time that the company’s financial results are finalized. In addition, the preliminary unaudited results are not a comprehensive statement of the company’s financial results for the quarter ended June 30, 2025, should...