Equillium

Biotechnology · Healthcare

Price

$2.59

+0.09 (+3.60%)

Market Cap

$92.0M

Exchange

NASDAQ

Winston Score

–

No score yet — Winston is napping.

We couldn’t gather enough financial data to score this stock reliably.

Share count rising — dilution

+219.0% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 28.8M (2021) → 91.9M (2025)

Equillium is a small biotechnology company that develops drugs to treat serious immune system diseases. Its main focus is a drug called itepekimab — wait, actually its lead drug is **EQ001 (itepekimab is AstraZeneca's)** — Equillium's lead asset is **EQ001 (anti-CD6)**, targeting conditions like lupus, graft-versus-host disease, and severe asthma. The company sells nothing yet; it is still in the clinical trial stage, meaning its drugs have not been approved for patients.

Equillium earns no product revenue today and funds its operations through equity raises and partnerships. It is a US-based company headquartered in La Jolla, California, with a very small market cap of roughly $100 million. Because it has no approved products, no revenue, and a negative return on capital, the biggest risk it faces is running out of cash before its drugs can complete clinical trials and reach the market.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

YoY Growth Rate

Revenue data limited

EPS Growth

+75.0% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$13M/ year

↓ Declining (-66% vs prior year)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

50.6%ownership

Insiders own a meaningful stake in the company

Cash Runway

~4 years

$61M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

$61M cash & investments at current burn rate

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin

N/A

Data not available

Operating Margin

N/A

Data not available

ROCE

-9.3%

Weak — -9.3% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

-100.0%

Shrinking sales (-100.0% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

N/A

Data not available

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Stability

Debt / Equity

0.01

Conservative — low debt load (0.01)

Interest Cover

N/A

—

Data not available

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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