Equillium adds cryptocurrency to treasury strategy amid cash concerns

Published 04/08/2025, 13:34

Equillium Inc . (NASDAQ:EQ) announced it will integrate cryptocurrency into its treasury reserve strategy as the biotechnology company seeks to diversify its financial holdings while facing limited cash runway.

The La Jolla, California-based company, which develops therapies for autoimmune and inflammatory disorders, said its board approved the addition of digital currencies to its treasury investment policy following a sector review. Chief Executive Officer Bruce Steel stated the strategy aims to provide diversification, liquidity and capital appreciation potential for stockholders.

The company plans to provide updates on the cryptocurrency strategy during the third quarter of 2025, according to the press release.

Equillium reported cash and cash equivalents of approximately $11.5 million as of June 30, 2025. The company expects its existing cash will fund operations into the fourth quarter of 2025, based on implemented cost-reduction measures and ongoing efforts to conserve cash.

The biotech company continues to advance EQ504, an aryl hydrocarbon receptor modulator, toward clinical development for treating autoimmune conditions. EQ504 is designed as a non-immunosuppressive treatment that could be delivered locally through enteric coating for ulcerative colitis or inhaled formulations for inflammatory lung diseases.

The preliminary financial results are unaudited and subject to revision based on quarter-end closing procedures, the company noted. Actual results may differ from the preliminary figures.

Equillium acknowledged risks associated with the cryptocurrency strategy, including digital asset volatility, regulatory uncertainty, and potential correlation between its stock price and cryptocurrency holdings.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.