Equillium (EQ) Well Equipped For 2020...

(RTTNews) - After a disappointing performance in 2019, shares of Equillium Inc. (EQ) seem to have started the year on a right note - gaining over 20% on Thursday - the first day of trading in 2020.

Equillium is a clinical-stage biotechnology company developing products to treat severe autoimmune and inflammatory disorders with high unmet medical need.

The Company's lead product candidate is Itolizumab (EQ001). Equillium acquired exclusive rights to Itolizumab for the U.S. & Canada from Biocon. Itolizumab is the first antibody targeting the novel CD6/ALCAM pathway for the treatment of severe immuno-inflammatory disorders.

The ongoing trials with Itolizumab include:

-- A phase Ib uncontrolled trial in moderate to severe asthma patients, dubbed EQUIP, initiated in June 2019, with initial data expected in the second half of this year. -- A phase 1b/2 trial in Acute Graft Versus Host Disease, known as EQUATE, initiated in March 2019, with initial data expected in the second half of this year. -- A phase Ib multiple ascending dose trial in patients with systemic lupus erythematosus (SLE) and lupus nephritis, dubbed EQUALISE, initiated last September. Data from the SLE cohort of this trial is expected in the second half of 2020, with data from the lupus nephritis cohort expected in the first half of 2021.

As of September 30, 2019, Equillium had total cash, cash equivalents and short-term investments of $62.2 million.

EQ has traded in a range of $2.56 to $13.32 in the last 1 year. The stock closed Thursday's trading at $4.09, up 21.01%.

In light of the important data readouts scheduled for this year, Equillium is a stock worth the watch.