Equillium Announces Leadership and Corporate Updates
Rhea-AI Summary
Equillium (Nasdaq: EQ) announced leadership and corporate governance updates effective October 1, 2025, and a contract termination dated September 30, 2025. Stephen Connelly, Ph.D. was promoted to President while retaining his Chief Scientific Officer role. Daniel M. Bradbury moved from Executive Chairman to Chairman of the Board, and Bruce Steel remains CEO and a board member. Both Stephen Connelly and Bala Manian tendered resignations from the board, stated as not resulting from any disagreement with the company. Separately, Equillium and Biocon agreed to terminate their collaboration and license arrangements related to itolizumab.
Company commentary emphasized a sharpened pipeline focus on advancing EQ504 into the clinic and improving capital efficiency.
Positive
- Promotion of Dr Stephen Connelly to President effective October 1, 2025
- Daniel M. Bradbury appointed Chairman of the Board
- CEO Bruce Steel remains in place, preserving executive continuity
Negative
- Two board members resigned from the Board effective October 1, 2025
- Termination of collaboration with Biocon on September 30, 2025 ends itolizumab partnership
News Market Reaction
On the day this news was published, EQ gained 12.78%, reflecting a significant positive market reaction. Argus tracked a peak move of +13.4% during that session. Our momentum scanner triggered 10 alerts that day, indicating notable trading interest and price volatility. This price movement added approximately $11M to the company's valuation, bringing the market cap to $97M at that time.
Data tracked by StockTitan Argus on the day of publication.
LA JOLLA, Calif., Oct. 06, 2025 (GLOBE NEWSWIRE) -- Equillium, Inc. (Nasdaq: EQ), a clinical-stage biotechnology company leveraging a deep understanding of immunobiology to develop novel therapeutics to treat severe autoimmune and inflammatory disorders, today announced changes to its Board of Directors (BoD) and senior leadership, and other corporate updates.
“The updates we announced today mark an important and timely step as we sharpen our therapeutic pipeline focus on advancing EQ504, our novel aryl hydrocarbon receptor (AhR) modulator, into the clinic to treat severe inflammatory diseases,” said Bruce Steel, Chief Executive Officer at Equillium. “These changes are intended to strengthen our ability to execute with enhanced capital efficiency to bring meaningful new therapies to patients in need. We are very pleased to promote Dr. Stephen Connelly to President, as his scientific and organizational leadership will continue to impact our success into the future. We would also like to sincerely thank Dr. Bala Manian for his service to the company since its inception; his thoughtfulness and insights were always constructive and welcomed by the Board.”
Recent Corporate Updates:
Changes to Corporate Governance Effective October 1, 2025
- Stephen Connelly, Ph.D. has been promoted to President, in addition to his current role as Chief Scientific Officer, of the Company.
- Stephen Connelly, Ph.D. and Bala Manian, Ph.D. tendered their resignations from the BoD; such resignations were not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
- Daniel M. Bradbury transitioned from Executive Chairman of the Company to Chairman of the BoD.
- Bruce Steel remains the Company’s Chief Executive Officer and a member of the BoD.
Termination of Biocon Agreement
- As previously announced, Equillium had no further intention to continue development of itolizumab, therefore on September 30, 2025, Biocon and Equillium entered into an agreement to terminate their collaboration and license agreement and other agreements relating to itolizumab.
About EQ504
EQ504 is an investigational potent and selective aryl hydrocarbon receptor (AhR) modulator designed with a multi-modal, non-immunosuppressive mechanism of action to be complementary to other inflammation and immunology agents. AhR is critical to barrier organ tissue physiology and immunology, maintaining barrier function and promoting tissue repair and regeneration, while regulating resident immune cells with anti-inflammatory responses. EQ504’s preclinical properties provide the potential for targeted, local delivery via enteric coating for the treatment of ulcerative colitis and pouchitis or inhaled formulations for the treatment of inflammatory lung diseases.
About Equillium
Equillium is a clinical-stage biotechnology company leveraging a deep understanding of immunobiology to develop novel therapeutics to treat severe autoimmune and inflammatory disorders. The Company’s pipeline consists of novel immunomodulatory assets and a product platform targeting immuno-inflammatory pathways.
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. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “could”, “continue”, “expect”, “estimate”, “may”, “plan”, “outlook”, “future”, “potential” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements include, but are not limited to, the Company’s plans and timing related to the development of EQ504, the potential benefits of EQ504, and the anticipated capital efficiency resulting from the announced changes. Because such statements are subject to risks and uncertainties, many of which are outside of Equillium’s control, actual results may differ materially from those expressed or implied by such forward-looking statements. Risks that contribute to the uncertain nature of the forward-looking statements include: Equillium’s ability to execute its plans and strategies; risks related to performing clinical and pre-clinical studies; whether the results from clinical and pre-clinical studies will validate and support the safety and efficacy of EQ504; changes in the competitive landscape; and changes in Equillium’s strategic plans. These and other risks and uncertainties are described more fully under the caption “Risk Factors” and elsewhere in Equillium's filings and reports, which may be accessed for free by visiting the Securities and Exchange Commission’s website and on Equillium’s website under the heading “Investors.” Investors should take such risks into account and should not rely on forward-looking statements when making investment decisions. 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, except as required by law.
Investor Contact
PJ Kelleher
LifeSci Advisors, LLC
+1-617-430-7579
pkelleher@lifesciadvisors.com
FAQ
What leadership changes did Equillium (EQ) announce on October 6, 2025?
When did Equillium (EQ) terminate its Biocon collaboration related to itolizumab?
How does the Equillium announcement affect EQ504 development plans?
Who remains in Equillium executive leadership after the October 2025 changes?
Did Equillium say the board resignations were due to disagreements?
When did the leadership and governance changes at Equillium become effective?
