Equillium (NASDAQ:EQ) stock is seeing gains on Friday after getting the go-ahead from the U.S. Food and Drug Administration (FDA) for a drug trial.
Equillium wants to test how well its itolizumab can treat patients suffering from the novel coronavirus. To do so, it’s planning a Phase 3 trial that the FDA has approved. This trial will start in the fourth quarter of 2020 with initial results coming as soon as mid-2021.
Equillium’s itolizumab isn’t designed to treat the coronavirus itself. Instead, the drug is for severe autoimmune and inflammatory disorders. EQ believes it may be helpful in coronavirus patients suffering from acute respiratory distress syndrome.
Of course, EQ stock investors are hoping for positive results from the Phase 3 trial. The FDA has indicated that the drug may be eligible for a Biologic License Application if the study meets its primary and secondary endpoints.
Here’s what investors need to know about Equillium.
- Equillium is a biotechnology company with a focus on developing medicines for unmet needs.
- It’s an incredibly young company that was only founded in 2017.
- To go along with this, it only went public during an initial public offering (IPO) that took place on Oct. 12, 2018.
- The company’s current market capitalization is sitting at $152.13 million.
- It’s planning to use itolizumab to treat a wide range of illnesses.
- That includes acute GVHD, uncontrolled asthma, and SLE/lupus nephritis.
EQ stock was up 3.7% as of Friday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
