Equillium Stock Price, News & Analysis

Equillium announced on May 31, 2024, that its Compensation Committee granted a nonstatutory stock option award to a new employee under the company's 2024 Inducement Plan. This inducement award, approved under Nasdaq Listing Rule 5635(c)(4), consists of 7,200 shares of common stock with an exercise price of $1.50 per share, which matches the closing stock price on May 31, 2024. The vesting schedule for this award spans four years, with 25% vesting after one year and the remainder vesting monthly over the next three years, contingent on the employee's continued service with Equillium.

Equillium announced positive topline data from a Phase 2 study of EQ101 in treating alopecia areata (AA), an autoimmune disease causing hair loss. The study indicated favorable safety and tolerability with no serious adverse events (SAEs). Results showed 20% of subjects who completed 24 weeks of treatment reached a SALT score ≤ 20, improving from a baseline SALT of 35 to 100. Among those with moderate to severe AA, 29% achieved a SALT score ≤ 20. EQ101, a multi-cytokine inhibitor targeting IL-2, IL-9, and IL-15, demonstrated promising efficacy, warranting further development and exploration in other dermatological conditions like vitiligo and atopic dermatitis.

Equillium (Nasdaq: EQ), a clinical-stage biotechnology company, will present at the Jefferies Global Healthcare Conference from June 4-6, 2024, in New York. The presentation, scheduled for June 5 at 10:30 am ET, will cover the company's clinical programs, including EQ101 for alopecia areata, with data expected by the end of June 2024. The firm will also discuss its partnership with Ono Pharmaceutical and its 2024 milestones. Management will be available for one-on-one meetings. The presentation will be webcast live and available for replay for 90 days on Equillium's website.

Equillium (Nasdaq: EQ) has surpassed the interim enrollment target in its Phase 3 EQUATOR study of itolizumab for acute graft-versus-host disease (aGVHD). Over 100 patients from more than 100 clinical trial sites in 12 countries are participating. Interim data will be reviewed by an independent data monitoring committee in Q3, which will trigger a three-month option exercise period for Ono Pharmaceutical to acquire rights to itolizumab. If exercised, Ono will pay Equillium approximately $32.2 million, with potential milestone payments of up to $101.4 million.

Equillium Inc. (Nasdaq: EQ) reported a $32.3 million cash balance in Q1 2024, expected to last until 2H 2025. Positive data from the Phase 1b EQUALISE study of itolizumab in lupus nephritis patients was released. Anticipated milestones include EQ101 Phase 2 study results in Q2 2024 and EQUATOR acute graft-versus-host disease interim review in Q3 2024. Financially, revenue was $10.7 million, with $9.7 million in R&D expenses and $3.7 million in G&A expenses. Net loss was $2.7 million, with $32.3 million in cash, cash equivalents, and short-term investments as of March 31, 2024.

Equillium, Inc. (Nasdaq: EQ) presented a poster at the annual meeting of The American Association of Immunologists showcasing the role of CD6 in cell adhesion and migration, highlighting the efficacy of itolizumab in preventing trans-endothelial migration of effector T cells. The data revealed the mechanism of action of itolizumab and its ability to modulate T cell activity and trafficking, offering insights into treating autoimmune and inflammatory disorders.