Equillium announces $35M financing with RA Capital Management

Equillium (EQ) announced that it has entered into a definitive securities purchase agreement with RA Capital Management that will provide approximately $35 million in gross proceeds to Equillium. Pursuant to the terms of the securities purchase agreement, the Company will issue approximately 18.9 million shares of its common stock, representing a purchase price of $1.854 for each share of common stock or $1.8539 for each pre-funded warrant sold in lieu of common stock at closing. Gross proceeds from the financing are expected to be $35 million, before deducting expenses.