Equillium

Biotechnology · Healthcare

Price

$2.20

-0.11 (-4.76%)

Market Cap

$139.1M

Exchange

NASDAQ

Winston Score

–

No score yet — Winston is napping.

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

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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)

Winston Score History

The full picture

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.

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

44.1%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Runway

~3 years

$57M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

$57M 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

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

N/A

Data not available

Profit after running costs

Operating Margin

N/A

Data not available

Return on the money invested

ROCE

-34.1%

Weak — -34.1% return on capital

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

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Growth

Sales growth

Sales YoY

-100.0%

Shrinking sales (-100.0% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

N/A

Data not available

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Stability

What it owes vs what it owns

Debt / Equity

0.01

Conservative — low debt load (0.01)

Covers its interest

Interest Cover

N/A

—

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

Cheaper or dearer next year

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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