Stock Alert: Equillium Jumps 12 On FDA's Positive Feedback

(RTTNews) - Shares of clinical-stage biotechnology company Equillium, Inc. (EQ) are rising more than 12% Tuesday morning after the company announced that the FDA has provided positive feedback on the company's plans to evaluate its Coronavirus drug candidate.

The company said it has successfully completed a pre-IND meeting with the FDA to start the study of Equillium's drug candidate, itolizumab (EQ001) for the treatment for hospitalized patients with COVID-19.

Equillium plans to submit an IND application to the FDA in October 2020 and start a global Phase 3 study during the fourth quarter of this year.

Equillium stock is currently trading at $6.74. It has traded in the range of $2.20- $27.05 in the last one year.