Equillium

At the Cantor Fitzgerald Healthcare Conference Equillium presented the development of EQ504, a differentiated AHR modulator with anti-inflammatory and wound-healing properties. The company is well capitalized after earlier financing rounds and an investment from RA Capital; administration of the first phase I dose will trigger an additional tranche of USD 20 million. The SAD/MAD phase I study in healthy volunteers has been submitted to Australian authorities and could deliver top-line data six months after study start. Equillium is also working on an inhaled lung formulation and a colon-targeted capsule, prioritizing ulcerative colitis with later expansion into lung diseases. » Más en de.investing.com

Equillium reorganized management and the board, promoted Dr. Stephen Connelly to president while he remains active as CSO, and shortened the board; Daniel M. Bradbury remains chairman and Bruce Steel remains CEO. The company ended its collaboration on itolizumab and is concentrating on EQ504, a multimodal, non‑immunosuppressive aryl‑hydrocarbon receptor modulator with potential oral and inhaled formulations for inflammatory diseases. To strengthen the balance sheet, Equillium announced a prospectus supplement for share sales of up to $75 million, a private placement of up to $50 million (including a $30 million upfront payment), and the integration of cryptocurrencies into its treasury strategy. » Más en de.investing.com

Equillium has filed a prospectus supplement with the U.S. SEC for an offering and sale of common stock totaling up to $75 million under an open market sale agreement with LifeSci Capital. Under that agreement, 1,719,485 shares have already been sold, producing gross proceeds of $0.96 million. The company also reported a private placement of up to $50 million, with a $30 million advance for about 52.6 million shares at $0.57 per share and a potential additional $20 million contingent on milestone achievements. Equillium additionally announced plans to integrate cryptocurrencies into its treasury strategy; the stock is currently trading at $1.46 and the company has a market capitalization of $88 million. » Más en de.investing.com