Equillium, Inc.
EQ evidence brief
What we can confirm
- BioSniper Score:
- 5.2 / 10
- Market Cap:
- $133.8M
- Lead Asset:
- eq101 (Phase 2)
What it means
What to watch
Prepared research question
What matters most for EQ—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · EQ
Equillium, Inc. is a clinical-stage biotechnology company developing novel therapies for severe autoimmune and inflammatory disorders, with a pipeline including itolizumab (Phase 3 for graft-versus-host disease) and EQ504 (Phase 1 for ulcerative colitis).
Key risk: Clinical-stage only
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Market Cap
$133.8M
Cash Runway
—
Lead Asset
eq101 (Phase 2)
Next Catalyst
—
Tracking 4 pipeline candidates · 5 clinical trials for Equillium, Inc..
Equillium, Inc. is a clinical-stage biotechnology company developing novel therapies for severe autoimmune and inflammatory disorders, with a pipeline including itolizumab (Phase 3 for graft-versus-host disease) and EQ504 (Phase 1 for ulcerative colitis).
- Cash and cash equivalents of $57.2 million as of Q2 2026, expected to fund operations into 2029 [news · 2026-08-13].
- Phase 3 trial of itolizumab for acute graft-versus-host disease initiated in April 2022 [catalyst].
- Phase 1 proof-of-mechanism study of EQ504 for ulcerative colitis on track to initiate dosing by early November 2026, with topline data anticipated approximately six months later [news · 2026-10-05].
- Received $35 million financing from RA Capital Management in March 2026 to support EQ504 advancement [news · 2026-03-13].
- Appointed Snehal Naik, Ph.D., as Chief Development Officer in May 2026 [news · 2026-05-13].
What works
- Cash runway extended into 2029, providing financial stability for ongoing programs [news · 2026-08-13].
- Itolizumab holds Fast Track and Orphan Drug designations, indicating regulatory support [pipeline].
- EQ504 is advancing into Phase 1 with a clear timeline and preclinical data supporting its mechanism [news · 2026-10-05].
What to weigh
- Itolizumab faces a competitive landscape with 20 competitors in graft-versus-host disease [pipeline].
- EQ101 for alopecia areata is in Phase 2 but faces 108 competitors, including advanced programs [pipeline].
- All programs are in early or mid-stage development with no approved products, implying high clinical risk [pipeline].
From the filings
Quoted directly from source documents.
Cash runway into 2029
“Cash and cash equivalents of $57.2 million expected to fund operations into 2029”
News · August 13, 2026
EQ504 Phase 1 initiation timeline
“On track to initiate dosing by early November 2026; topline Phase 1 proof-of-mechanism data anticipated approximately six months following study initiation”
News · October 5, 2026
Itolizumab Phase 3 start
“Phase3_Start: A Phase 3, Randomized, Double-Blind, Placebo-Controlled Multicenter Study of Itolizumab in Combination With Corticosteroids for the Initial Treatment of Acute Graft Versus Host Disease”
Catalysts · April 29, 2022
Financing from RA Capital Management
“Equillium Announces $35 Million Financing with RA Capital Management”
News · March 13, 2026
Risks & what to watch (3)›
Key risks
- Clinical-stage only — No approved products; all programs are in Phase 1-3, with inherent risk of failure [pipeline].
- Competitive pipeline — Itolizumab has 20 competitors; EQ101 faces 108 competitors in alopecia areata [pipeline].
- Dependence on EQ504 — EQ504 is a key near-term catalyst; any delay or negative data could impact outlook [news · 2026-10-05].
What to watch
- Initiation of EQ504 Phase 1 dosing expected by early November 2026 [news · 2026-10-05].
- Topline Phase 1 data for EQ504 anticipated approximately six months after study initiation [news · 2026-10-05].
- Progress of itolizumab Phase 3 trial in acute graft-versus-host disease [catalyst].
- Financial updates and cash runway status in future quarterly reports [news · 2026-08-13].
Sources: Catalysts · News · Pipeline · Generated October 12, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
Cash runway data unavailable
Financial health data unavailable
Lead: Phase 3
4 candidates
No upcoming catalysts tracked
0 buys · 8 sells (180d)
Pipeline
Regulatory
Financials
Short Interest
as of Apr 20, 2026- % of float
- 5.5%
- Days to cover
- 4.4
- Shares short
- 2,727,834
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
EQ short interestGovernance
Frequently asked questions
What is the AI investment thesis for Equillium, Inc.?
Equillium, Inc. is a clinical-stage biotechnology company developing novel therapies for severe autoimmune and inflammatory disorders, with a pipeline including itolizumab (Phase 3 for graft-versus-host disease) and EQ504 (Phase 1 for ulcerative colitis).
What is Equillium, Inc.'s lead drug candidate?
Equillium, Inc.'s most advanced tracked candidate is eq101 (Phase 2) for Alopecia Areata.
Who is the CEO of Equillium, Inc.?
Mr. Bruce Steel is the chief executive officer of Equillium, Inc. (EQ).
Where is Equillium, Inc. headquartered?
Equillium, Inc. (EQ) is headquartered in La Jolla, CA, United States.
What therapeutic areas does Equillium, Inc. focus on?
Equillium, Inc. develops therapies across Oncology, Immunology, Nephrology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.