Biotech Values

[DewDiligence]

EQ acquires MTCR in_all-stock_deal_at_25%_premium_to MTCR’s net cash on the date of closing:

https://www.businesswire.com/news/home/20220906005973/en

Equillium is not planning to retain any current Metacrine employees and expects to assume minimal operating expenses while maintaining sole discretion over the timing and extent of advancing development of the Metacrine programs.

In other words, EQ has no interest in MTCR’s pipeline and this deal is tantamount to a financing transaction for EQ.