EQ Equillium Inc.

10.07
+0.59  (+6%)
Previous Close 9.48
Open 9.51
52 Week Low 2.2
52 Week High 27.05
Market Cap $178,141,190
Shares 17,683,965
Float 16,457,678
Enterprise Value $129,714,988
Volume 334,090
Av. Daily Volume 3,166,444
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Upcoming Catalysts

Drug Stage Catalyst Date
EQ001 - itolizumab
Acute graft-versus-host disease
Phase 1b
Phase 1b
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Drug Pipeline

Drug Stage Notes
EQ001 - itolizumab
Systemic lupus erythematosus (SLE) and lupus nephritis (LN)
Phase 1b
Phase 1b
Phase 1b enrolment has resumed following pause due to COVID-19 - July 13, 2020.
EQ001 - itolizumab
Asthma
Phase 1b
Phase 1b
Phase 1b enrolment has resumed following paused due to COVID-19 - July 13, 2020.

Latest News

  1. LA JOLLA, Calif., July 30, 2020 (GLOBE NEWSWIRE) -- Equillium, Inc. (NASDAQ:EQ), a clinical-stage biotechnology company leveraging deep understanding of immunobiology to develop novel products to treat severe autoimmune and inflammatory disorders, today announced that Bruce Steel, Equillium's chief executive officer and Krishna Polu, M.D., Equillium's chief medical officer, will participate in a fireside discussion at the BTIG Virtual Biotechnology Conference 2020 on Tuesday, August 11, 2020.

    Date: Tuesday, August 11, 2020
    Time: 3:30 PM Eastern Time | 12:30 PM Pacific Time
    Location: Virtual Webcast


    Live webcast of the presentation will be available under the "Investors" section of the Company's website at https://ir.equilliumbio.com/. Replays…

    LA JOLLA, Calif., July 30, 2020 (GLOBE NEWSWIRE) -- Equillium, Inc. (NASDAQ:EQ), a clinical-stage biotechnology company leveraging deep understanding of immunobiology to develop novel products to treat severe autoimmune and inflammatory disorders, today announced that Bruce Steel, Equillium's chief executive officer and Krishna Polu, M.D., Equillium's chief medical officer, will participate in a fireside discussion at the BTIG Virtual Biotechnology Conference 2020 on Tuesday, August 11, 2020.

    Date: Tuesday, August 11, 2020
    Time: 3:30 PM Eastern Time | 12:30 PM Pacific Time
    Location: Virtual Webcast



    Live webcast of the presentation will be available under the "Investors" section of the Company's website at https://ir.equilliumbio.com/. Replays will be available for 30 days following each webcast.

    About Equillium

    Equillium is a clinical-stage biotechnology company leveraging deep understanding of immunobiology to develop novel products to treat severe autoimmune and inflammatory disorders with high unmet medical need.

    Equillium's initial product candidate, itolizumab, is a clinical-stage, first-in-class monoclonal antibody that selectively targets the CD6-ALCAM pathway. This pathway plays a central role in modulating the activity and trafficking of T cells that drive a number of immuno-inflammatory diseases. Itolizumab is a clinically-validated therapeutic that has demonstrated a favorable safety and tolerability profile. Equillium acquired rights to itolizumab through an exclusive partnership with Biocon Limited. Biocon has recently reported results from a study of itolizumab in COVID-19 patients in India, and has subsequently received emergency use authorization from the Drugs Controller General of India for itolizumab for the treatment of cytokine release syndrome (CRS) in COVID-19 patients with moderate to severe acute respiratory distress syndrome (ARDS) in India. Equillium believes that itolizumab has the potential to be a best-in-class disease modifying therapeutic and is developing itolizumab in multiple severe immuno-inflammatory disorders – acute graft-versus-host disease, uncontrolled asthma, and lupus nephritis – and is planning to submit an investigational new drug application for the treatment of COVID-19 patients. For more information, visit www.equilliumbio.com.

    Investor Contact

    Christine Zedelmayer, Chief Operating Officer

    +1-858-412-5302

    Media Contact

    Cammy Duong

    Canale Communications

    +1-619-849-5389

     

    Primary Logo

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  2. Equillium shares topline results of patients treated with itolizumab in clinical trial conducted in India by partner Biocon

    Biocon has received emergency use approval from Drugs Controller General of India for itolizumab in the treatment of CRS in COVID-19 patients with moderate to severe ARDS

    Equillium planning global randomized controlled clinical trial of itolizumab in COVID-19 patients under a U.S. IND

    LA JOLLA, Calif., July 13, 2020 (GLOBE NEWSWIRE) -- Equillium, Inc. (NASDAQ:EQ), a clinical-stage biotechnology company developing itolizumab to treat severe autoimmune and inflammatory disorders, today announced that as reported by its partner, Biocon Limited, a clinical trial conducted in India by Biocon demonstrated that itolizumab…

    Equillium shares topline results of patients treated with itolizumab in clinical trial conducted in India by partner Biocon

    Biocon has received emergency use approval from Drugs Controller General of India for itolizumab in the treatment of CRS in COVID-19 patients with moderate to severe ARDS

    Equillium planning global randomized controlled clinical trial of itolizumab in COVID-19 patients under a U.S. IND

    LA JOLLA, Calif., July 13, 2020 (GLOBE NEWSWIRE) -- Equillium, Inc. (NASDAQ:EQ), a clinical-stage biotechnology company developing itolizumab to treat severe autoimmune and inflammatory disorders, today announced that as reported by its partner, Biocon Limited, a clinical trial conducted in India by Biocon demonstrated that itolizumab significantly reduced mortality in patients hospitalized with COVID-19. Biocon has announced that the Drugs Controller General of India (DCGI), the regulatory agency that oversees drug approvals, has granted restricted emergency use of itolizumab for the treatment of cytokine release syndrome (CRS) in COVID-19 patients with moderate to severe acute respiratory distress syndrome (ARDS) in India. Based on the encouraging topline results of the study reported by Biocon and subsequent DCGI approval to treat COVID-19 patients, Equillium is planning to conduct a global randomized controlled clinical trial of itolizumab in COVID-19 patients for which it will file a U.S. investigational new drug application (IND).

    Biocon conducted a randomized, controlled, open-label study at four hospitals in India, enrolling a total of 30 hospitalized COVID-19 patients with moderate to severe ARDS. Twenty patients were randomized to receive itolizumab plus best supportive care, while 10 patients received best supportive care alone. The primary endpoint was mortality at one month.  As reported by Biocon:

    • In the itolizumab arm there were no deaths and all patients have recovered; in the control arm three patients died and the remainder have recovered
    • The mortality benefit observed in the itolizumab arm was statistically significant
    • Consistent with the observed clinical improvement, patients who received itolizumab also experienced significant reductions in inflammatory cytokines such as IL-6 and TNFα

    "The results of this clinical trial reported by Biocon are encouraging and support the hypothesis that itolizumab's novel immune-modulating mechanism may have promise in addressing the severe immuno-inflammatory complications experienced by COVID-19 patients," said Bruce Steel, co-founder and CEO of Equillium. "We are working with Biocon to review its full dataset with the goal to move swiftly in determining appropriate next steps to accelerate further development of itolizumab to treat moderate to severely ill COVID-19 patients in the U.S. and abroad in the face of this global crisis."

    "As the entire world grapples with the ongoing COVID-19 pandemic it is critical to identify new treatments that improve outcomes for the sickest patients, and these reported early clinical data suggest that itolizumab holds promise," said Siddhartha Mukherjee, M.D., Ph.D., a clinical advisor to Equillium and Biocon, Pulitzer Prize Award-winning author, and an Associate Professor of Medicine at Columbia University's Herbert Irving Comprehensive Cancer Center.

    Ivor S. Douglas, M.D., FRCP (UK) Professor of Medicine, Chief of Pulmonary and Critical Care and Medical Director, Medical Intensive Care Denver Health Medical Center, added, "Patients with COVID-19 experience acute respiratory failure caused by the immune system flooding the bloodstream with inflammatory proteins, which can kill tissue, damage organs and pathologically activate clotting cascades in the lungs, heart, and kidneys. The novel mechanism of itolizumab, which works by inhibiting CD6 to reduce the activation and trafficking of pathogenic T cells that release pro-inflammatory cytokines, may be well suited to address SARS-CoV-2 induced inflammation that drives respiratory failure in patients with COVID-19. The preliminary data as reported by Biocon is encouraging and highlights the urgent importance of further evaluating the potential therapeutic efficacy of itolizumab in treating patients diagnosed with COVID-19."

    Itolizumab is a first-in-class immune-modulating antibody therapeutic with a novel mechanism of action that inhibits the activity and trafficking of pathogenic T cells that release pro-inflammatory cytokines in a range of autoimmune and inflammatory diseases. Equillium acquired rights to develop and commercialize itolizumab in the U.S., Canada, Australia and New Zealand through an exclusive collaboration and license agreement with Biocon. Equillium is currently evaluating itolizumab under two open U.S. INDs for the treatment of acute graft-versus-host disease and lupus nephritis, as well as conducting a clinical study in uncontrolled asthma in Australia and New Zealand.

    Biocon previously developed and received approval of Itolizumab for the treatment of plaque psoriasis in India, demonstrating the product was safe and well tolerated. Biocon manufactures itolizumab at commercial scale at its cGMP bio-manufacturing facility that is regulated by the U.S. Food & Drug Administration.

    In March of this year, as a result of the emerging COVID-19 pandemic, Equillium announced that it was pausing enrollment in the EQUIP trial for uncontrolled asthma and the EQUALISE trial for lupus nephritis. Today Equillium announces that patient enrollment in both of these studies has resumed.

    About Equillium

    Equillium is a clinical-stage biotechnology company leveraging deep understanding of immunobiology to develop novel products to treat severe autoimmune and inflammatory disorders with high unmet medical need.

    Equillium's initial product candidate, itolizumab, is a clinical-stage, first-in-class monoclonal antibody that selectively targets the CD6-ALCAM pathway. This pathway plays a central role in modulating the activity and trafficking of T cells that drive a number of immuno-inflammatory diseases. Itolizumab is a clinically validated therapeutic that has demonstrated a favorable safety and tolerability profile. Equillium acquired rights to itolizumab through an exclusive partnership with Biocon Limited.  Itolizumab is currently marketed in India under the trade name, "ALZUMab" for the treatment of chronic plaque psoriasis and in July 2020 received emergency use approval in India to treat CRS in COVID-19 patients with moderate to severe ARDS. Equillium believes that itolizumab has the potential to be a best-in-class disease modifying therapeutic and is advancing the clinical development of itolizumab in the following severe immuno-inflammatory disorders: uncontrolled asthma, acute graft-versus-host disease, and lupus nephritis. For more information, visit www.equilliumbio.com.

    Forward Looking Statements

    Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding the potential benefit of treating COVID-19 patients with itolizumab, planned clinical studies as a result of data reported by Biocon, Equillium's business strategy, Equillium's plans and expected timing for developing itolizumab, including the expected timing of initiating a clinical trial in patients with COVID-19, and the impact of the COVID-19 pandemic. Risks that contribute to the uncertain nature of the forward-looking statements include uncertainties pending full review by Equillium of the Biocon dataset and uncertainties related to Equillium's capital requirements, Equillium's plans and product development, including the initiation, restarting and completion of clinical trials, including a clinical trial of patients with COVID-19, uncertainties related to the actual impacts and length of such impacts caused by the COVID-19 pandemic, uncertainties caused by the pausing of the EQUIP and EQUALISE clinical trials, whether the results from clinical trials will validate and support the safety and efficacy of itolizumab, having to use cash in ways or on timing other than expected and the impact of market volatility on cash reserves. These and other risks and uncertainties are described more fully under the caption "Risk Factors" and elsewhere in Equillium's filings and reports with the United States Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made. Equillium undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

    Investor Contact

    Christine Zedelmayer, Chief Operating Officer

    +1-858-412-5302

    Media Contact

    Cammy Duong

    Canale Communications

    +1-619-849-5389

    Primary Logo

    View Full Article Hide Full Article
  3. NEW YORK, NY / ACCESSWIRE / June 3, 2020 / The Virtual Summer Summit will take place on June 9th-12th, connecting 47 presenting small and microcap companies with distinguished investors from around the globe. A full list of issuers are listed below along with webcasting links to view presentations.

    Company

    Ticker

    Webcasting Link

    ACCO Brands Corporation

    ACCO

    Participating in meetings only

    Alimera Sciences, Inc.

    ALIM

    https://www.webcaster4.com/Webcast/Page/2038/35019

    Annovis Bio

    ANVS

    https://www.webcaster4.com/Webcast/Page/2038/35035

    AquaBounty Technologies, Inc.

    AQB

    https://www.webcaster4.com/Webcast/Page/2038/35133

    Arch Therapeutics, Inc.

    ARTH

    https://www.webcaster4.com/Webcast/Page/2038/35130

    Artelo Biosciences…

    NEW YORK, NY / ACCESSWIRE / June 3, 2020 / The Virtual Summer Summit will take place on June 9th-12th, connecting 47 presenting small and microcap companies with distinguished investors from around the globe. A full list of issuers are listed below along with webcasting links to view presentations.

    Company

    Ticker

    Webcasting Link

    ACCO Brands Corporation

    ACCO

    Participating in meetings only

    Alimera Sciences, Inc.

    ALIM

    https://www.webcaster4.com/Webcast/Page/2038/35019

    Annovis Bio

    ANVS

    https://www.webcaster4.com/Webcast/Page/2038/35035

    AquaBounty Technologies, Inc.

    AQB

    https://www.webcaster4.com/Webcast/Page/2038/35133

    Arch Therapeutics, Inc.

    ARTH

    https://www.webcaster4.com/Webcast/Page/2038/35130

    Artelo Biosciences, Inc.

    ARTL

    https://www.webcaster4.com/Webcast/Page/2038/35016

    Avalon Adv Materials

    AVLNF

    https://www.webcaster4.com/Webcast/Page/2038/35132

    Bellicum Pharmaceuticals

    BLCM

    https://www.webcaster4.com/Webcast/Page/2038/35045

    C-Bond Systems

    CBNT

    https://www.webcaster4.com/Webcast/Page/2038/35029

    Endra Life Sciences

    NDRA

    https://www.webcaster4.com/Webcast/Page/2038/35129

    Energy Focus, Inc.

    EFOI

    https://www.webcaster4.com/Webcast/Page/2038/35027

    Equillium

    EQ

    https://www.webcaster4.com/Webcast/Page/2038/35188

    Exro Technologies Inc.

    EXROF

    https://www.webcaster4.com/Webcast/Page/2038/35052

    GreenPower Motor Company

    GPV

    https://www.webcaster4.com/Webcast/Page/2038/35185

    Hecla Mining Company

    HL

    Participating in meetings only

    Heidrick & Struggles International, Inc.

    HSII

    https://www.webcaster4.com/Webcast/Page/2038/35053

    Helius Medical Technologies

    HSDT

    https://www.webcaster4.com/Webcast/Page/2038/35021

    Heritage Global Inc

    HGBL

    https://www.webcaster4.com/Webcast/Page/2038/35131

    Ideal Power

    IPWR

    https://www.webcaster4.com/Webcast/Page/2038/35031

    IMAC Holdings, Inc.

    IMAC

    https://www.webcaster4.com/Webcast/Page/2038/35146

    Lincoln Educational Services

    LINC

    https://www.webcaster4.com/Webcast/Page/2038/35028

    MailUp Group

    MAIL

    https://www.webcaster4.com/Webcast/Page/2038/35047

    Marrone Bio

    MBII

    https://www.webcaster4.com/Webcast/Page/2038/35033

    Medexus

    MDP.V

    https://www.webcaster4.com/Webcast/Page/2038/35128

    Medicenna Therapeutics

    TSX: MDNA

    https://www.webcaster4.com/Webcast/Page/2038/35034

    Milestone Scientific

    MLSS

    https://www.webcaster4.com/Webcast/Page/2038/35125

    My Size, Inc.

    MYSZ

    https://www.webcaster4.com/Webcast/Page/2038/35024

    Nephros

    NEPH

    https://www.webcaster4.com/Webcast/Page/2038/35014

    NewAge Beverage

    NBEV

    https://www.webcaster4.com/Webcast/Page/2038/35141

    Nova Leap Health Corp

    NLH

    https://www.webcaster4.com/Webcast/Page/2038/35042

    Oblong Inc.

    OBLG

    https://www.webcaster4.com/Webcast/Page/2038/35025

    OncoSec Medical Incorporated

    ONCS

    https://www.webcaster4.com/Webcast/Page/2038/35011

    Oragenics

    OGEN

    https://www.webcaster4.com/Webcast/Page/2038/35043

    PDS Biotechnology Corporation

    PDSB

    https://www.webcaster4.com/Webcast/Page/2038/35018

    Safeguard Scientifics, Inc.

    SFE

    https://www.webcaster4.com/Webcast/Page/2038/35143

    SELLAS Life Sciences Group, Inc.

    SLS

    Participating in meetings only

    ShiftPixy

    PIXY

    https://www.webcaster4.com/Webcast/Page/2038/35032

    Sigma Labs, Inc.

    SGLB

    https://www.webcaster4.com/Webcast/Page/2038/35153

    Sono-Tek Corporation

    SOTK

    https://www.webcaster4.com/Webcast/Page/2038/35022

    Timber

    Private

    https://www.webcaster4.com/Webcast/Page/2038/35017

    Tinybeans Group Limited

    TNY.AX

    https://www.webcaster4.com/Webcast/Page/2038/35046

    Tonix Pharmaceuticals Holding Corp.

    TNXP

    https://www.webcaster4.com/Webcast/Page/2038/35044

    TransGlobe Energy

    TGA

    https://www.webcaster4.com/Webcast/Page/2038/35051

    Trxade Group, Inc.

    MEDS

    https://www.webcaster4.com/Webcast/Page/2038/35123

    Ur-Energy Inc.

    URG

    https://www.webcaster4.com/Webcast/Page/2038/35030

    VIQ Solutions, Inc.

    VQS.V

    https://www.webcaster4.com/Webcast/Page/2038/35145

    Western Magnesium

    MLYF

    https://www.webcaster4.com/Webcast/Page/2038/35050

    About the Investor Summit

    The Investor Summit Group (formerly MicroCap Conference) is an exclusive, independent conference dedicated to connecting smallcap and microcap companies with qualified investors. Having produced successful conferences over the past 5 years, the upcoming event will be the 2nd virtual edition added to our growing portfolio where hundreds of high-quality meetings between executives and investors will take place over 4 days. We pride ourselves on building community and providing a platform for our industry and look forward to launching new features at the upcoming Summer Summit such as virtual roundtable discussions and a stock pitch session to promote networking in a virtual format.

    To register for the upcoming Investor Summit, visit our website at www.investorsummitgroup.com

    Media Partner: Investor Brand Network, www.InvestorBrandNetwork.com

    News Compliments of ACCESSWIRE

    FOR MORE INFORMATION

    Please visit: www.investorsummitgroup.com
    Or, contact Cassandra Miller at

    SOURCE: The Investor Summit Group

    View source version on accesswire.com:
    https://www.accesswire.com/592484/47-Public-Companies-to-present-at-the-Summer-Virtual-Investor-Summit-on-June-9th-12th

    View Full Article Hide Full Article
  4. LA JOLLA, Calif., May 21, 2020 (GLOBE NEWSWIRE) -- Equillium, Inc. (NASDAQ:EQ), a clinical-stage biotechnology company leveraging deep understanding of immunobiology to develop novel products to treat severe autoimmune and inflammatory disorders, today announced that Bruce Steel, Equillium's chief executive officer and Krishna Polu, M.D., chief medical officer, will present at Jefferies Virtual Healthcare Conference on Tuesday, June 2, 2020.

    Date:   Tuesday, June 2, 2020
    Time:   1:30 PM Eastern Time | 10:30 AM Pacific Time
    Location:   Virtual Webcast

    A live webcast of the presentation will be available under the "Investors" section of the Company's website at https://ir.equilliumbio.com/. Replays will be available for 30 days following each…

    LA JOLLA, Calif., May 21, 2020 (GLOBE NEWSWIRE) -- Equillium, Inc. (NASDAQ:EQ), a clinical-stage biotechnology company leveraging deep understanding of immunobiology to develop novel products to treat severe autoimmune and inflammatory disorders, today announced that Bruce Steel, Equillium's chief executive officer and Krishna Polu, M.D., chief medical officer, will present at Jefferies Virtual Healthcare Conference on Tuesday, June 2, 2020.

    Date:   Tuesday, June 2, 2020
    Time:   1:30 PM Eastern Time | 10:30 AM Pacific Time
    Location:   Virtual Webcast

    A live webcast of the presentation will be available under the "Investors" section of the Company's website at https://ir.equilliumbio.com/. Replays will be available for 30 days following each webcast.

    About Equillium

    Equillium is a clinical-stage biotechnology company leveraging deep understanding of immunobiology to develop novel products to treat severe autoimmune and inflammatory disorders with high unmet medical need.

    Equillium's initial product candidate, itolizumab (EQ001), is a clinical-stage, first-in-class monoclonal antibody that selectively targets the CD6-ALCAM pathway. This pathway plays a central role in modulating the activity and trafficking of T cells that drive a number of immuno-inflammatory diseases. Itolizumab is a clinically-validated therapeutic that has demonstrated a favorable safety and tolerability profile. Equillium acquired rights to itolizumab through an exclusive partnership with Biocon Limited. Equillium believes that itolizumab has the potential to be a best-in-class disease modifying therapeutic and is advancing itolizumab into clinical development in the following severe immuno-inflammatory disorders: uncontrolled asthma, acute graft-versus-host disease, and lupus nephritis. For more information, visit www.equilliumbio.com.

    Investor Contact
    +1-858-412-5302

    Media Contact
    Cammy Duong
    Canale Communications
    +1-619-849-5389

    Primary Logo

    View Full Article Hide Full Article
  5. LA JOLLA, Calif., May 13, 2020 (GLOBE NEWSWIRE) -- Equillium, Inc. (NASDAQ:EQ), a clinical-stage biotechnology company leveraging deep understanding of immunobiology to develop products to treat severe autoimmune and inflammatory disorders, today announced financial results for the first quarter 2020.

    "We continue to advance our EQUATE clinical trial for itolizumab in patients with acute graft-versus-host disease (aGVHD), an acute life-threatening disease that remains a medical priority in the midst of the coronavirus pandemic," said Bruce Steel, chief executive officer of Equillium. "Our EQUIP and EQUALISE trials in uncontrolled asthma and lupus nephritis, respectively, remain paused as healthcare professionals have prioritized resources…

    LA JOLLA, Calif., May 13, 2020 (GLOBE NEWSWIRE) -- Equillium, Inc. (NASDAQ:EQ), a clinical-stage biotechnology company leveraging deep understanding of immunobiology to develop products to treat severe autoimmune and inflammatory disorders, today announced financial results for the first quarter 2020.

    "We continue to advance our EQUATE clinical trial for itolizumab in patients with acute graft-versus-host disease (aGVHD), an acute life-threatening disease that remains a medical priority in the midst of the coronavirus pandemic," said Bruce Steel, chief executive officer of Equillium. "Our EQUIP and EQUALISE trials in uncontrolled asthma and lupus nephritis, respectively, remain paused as healthcare professionals have prioritized resources around the pandemic.  We continue to monitor the situation closely to assess the feasibility of recommencing these trials." 

    Business Highlights:

    • Strengthened the leadership team with the appointments of Maple Fung, M.D., as vice president of clinical development and Matthew Ritter, Ph.D., as vice president of corporate development.
    • Presented translational data supporting the potential of itolizumab in the treatment of graft-versus-host disease (GVHD) at the Transplantation & Cellular Therapy (TCT) Meeting.
    • Entered into a common stock purchase agreement for up to $15 million with Lincoln Park Capital Fund, LLC.  With this potential funding source and Equillium's cash and cash equivalents at the end of the first quarter 2020, Equillium believes it has sufficient resources to support operations into the second half of 2021.

    Upcoming Catalysts:

    • Initial data from the Phase 1b part of the EQUATE trial in aGVHD expected in the second half of 2020

    First Quarter 2020 Financial Results

    Research and development (R&D) expenses. Total R&D expenses for the three months ended March 31, 2020 were $4.7 million, compared with $3.8 million for the same period in 2019. The increase in R&D expenses was primarily driven by the initiation and ramp-up of clinical development activities associated with the EQUIP, EQUATE and EQUALISE clinical trials and increased headcount expenses offset by slight decreases in expenses related to preclinical research activities and general overhead expenses.

    General and administrative (G&A) expenses. Total G&A expenses for the three months ended March 31, 2020 were $2.7 million, compared with $2.6 million for the same period in 2019. The increase in G&A expenses was primarily driven by increased non-cash stock based compensation expense and consulting expenses, offset by slight decreases in legal and other professional fees. 

    Net loss. Net loss for the three months ended March 31, 2020 was $7.8 million, or $(0.45) per basic and diluted share, compared with a net loss of $6.0 million, or $(0.34) per basic and diluted share for the same period in 2019.

    Cash, cash equivalents and short-term investments. Equillium held cash, cash equivalents and short-term investments totaling $47.7 million at March 31, 2020, compared to $53.1 million at December 31, 2019.

    About Equillium
    Equillium is a clinical-stage biotechnology company leveraging deep understanding of immunobiology to develop products to treat severe autoimmune and inflammatory disorders with high unmet medical need.

    Equillium's initial product candidate, itolizumab (EQ001), is a clinical-stage, first-in-class monoclonal antibody that selectively targets the CD6-ALCAM pathway. This pathway plays a central role in modulating the activity and trafficking of T cells that drive a number of immuno-inflammatory diseases. Itolizumab is a clinically-validated therapeutic that has demonstrated a favorable safety and tolerability profile. Equillium acquired rights to itolizumab through an exclusive partnership with Biocon Limited. Equillium believes that itolizumab (EQ001) has the potential to be a best-in-class disease modifying therapeutic and is advancing the clinical development of itolizumab (EQ001) in the following severe immuno-inflammatory disorders: acute graft-versus-host disease, uncontrolled asthma, and lupus nephritis. For more information, visit www.equilliumbio.com.

    Forward Looking Statements
    Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding the impact of new leadership team members, Equillium's ability to sell additional shares of its common stock to Lincoln Park, Equillium's business strategy, Equillium's plans and expected timing for developing itolizumab, including the expected timing of results from the EQUATE clinical trial, the potential benefits of itolizumab, Equillium's cash runway and the impact of the COVID-19 pandemic. Risks that contribute to the uncertain nature of the forward-looking statements include: uncertainties related to the abilities of new leadership team members to integrate and perform as expected, uncertainties related to Equillium's capital requirements, Equillium's ability to satisfy the conditions of the Lincoln Park agreement, Equillium's plans and product development, including the initiation, restarting and completion of clinical trials, uncertainties related to the actual impacts and length of such impacts caused by the COVID-19 pandemic, uncertainties caused by the pausing of the EQUIP and EQUALISE clinical trials, whether the results from clinical trials will validate and support the safety and efficacy of itolizumab, having to use cash in ways or on timing other than expected and the impact of market volatility on cash reserves. These and other risks and uncertainties are described more fully under the caption "Risk Factors" and elsewhere in Equillium's filings and reports with the United States Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made. Equillium undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

    Investor Contact
    +1-858-412-5302

    Media Contact
    Cammy Duong
    Canale Communications
    +1-619-849-5389


    Equillium, Inc.  
    Condensed Consolidated Balance Sheets  
    (In thousands)  
             
      March 31,   December 31,  
      2020   2019  
      (Unaudited)      
    Cash, cash equivalents and short-term investments $ 47,675   $ 53,143  
    Prepaid expenses and other assets   2,236     2,396  
    Total assets $ 49,911   $ 55,539  
    Current liabilities   3,711     3,883  
    Long-term notes payable   9,746   $ 9,681  
    Other non-current liabilities   108     127  
    Total stockholders' equity   36,346     41,848  
    Total liabilities and stockholders' equity $ 49,911   $ 55,539  
             



    Equillium, Inc.
    Condensed Consolidated Statements of Operations
    (In thousands, except share and per share data)
       
      Three Months Ended
    March 31,
      2020    2019 
       
      (unaudited)
    Operating expenses:      
    Research and development $ 4,706     $ 3,759  
    General and administrative   2,746       2,589  
    Total operating expenses   7,452       6,348  
    Loss from operations   (7,452 )     (6,348 )
    Other (expense) income, net   (385 )     398  
    Net loss $ (7,837 )   $ (5,950 )
    Net loss per common share, basic and diluted $ (0.45 )   $ (0.34 )
    Weighted-average number of common shares outstanding, basic and diluted   17,562,551       17,376,236  

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