Metacrine, Inc. (MTCR) and Equillium, Inc. (EQ) announced the mutual termination of definitive merger agreement.
Metacrine shares rise 5.40% to $0.4551 in the after-hours trading following scrapped Equillium deal. Equillium stock closed Friday's trading at $0.89, down 6.30%.
Equillium first said to acquire Metacrine in an all-stock transaction in early 2022, with the intent of adding cash runway in a very difficult financing market.
"However, our recent strategic partnership with Ono Pharmaceutical is expected to extend our cash runway into 2025, and possibly further with potential option exercise and milestone payments", said Bruce Steel, chief executive officer of Equillium.
Metacrine said it is continuing to evaluate all strategic opportunities.
For comments and feedback contact: editorial@rttnews.com
Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.