Equillium (EQ) Stock Continues Skyward on COVID-19 IND Aproval

Equillium EQ Stock News

After a strong day in the market yesterday, Equillium Inc (NASDAQ: EQ) is running for the top in the market yet again this morning. The excitement follows news that the FDA had approved an IND surrounding a Phase 3 clinical trial for a potential COVID-19 treatment. Here’s what’s going on:

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EQ Stock I Flying on Phase 3 IND Approval

In a press release issued yesterday, Equillium said that the United States Food and Drug Administration (FDA) has sent it a Study May Proceed letter. The letter surrounds a Phase 3 clinical trial called EQUINOX, which will evaluate itolizumab in hospitalized COVID-19 patients that are suffering from acute respiratory distress syndrome (ARDS).

As a result of the IND approval, Equillium said that it will begin enrolling patients in the study in the fourth quarter of 2020. Initial clinical data is expected to be released in mid-2021. Importantly, EQ pointed out that this is a pivotal trial. If all goes well, the company will move forward with the filing of a Biologic Linces Application, with the goal of bringing itolizumab to market.

In a statement, Ivor S. Douglas, M.D., lead investigator for the clinical trial, had the following to offer:

Itolizumab’s novel immune-modulating mechanism has the potential to regulate the cytokine cascade that is at the root of multiple complications seen in hospitalized COVID-19 patients, including blood clots, tissue damage and organ failure, as well as ARDS.

As we are confronting surging rates of COVID-19 infections globally, I anticipate a sharp rise in patients with severe disease requiring oxygen support or other life-saving critical care measures. As the principal investigator in the EQUINOX trial, it is my hope that this study will help propel a highly effective new treatment option closer to availability for these vulnerable and high-risk patients.

The above statement was followed up by Bruce Steel, CEO at EQ. Here’s what he had to offer:

While we feel a tremendous sense of urgency in the face of the COVID-19 pandemic, we remain committed to conducting studies with scientific rigor, which is why we are undertaking a robust, double-blind, placebo-controlled study, the gold standard for measuring a drug’s efficacy.

The initiation of the EQUINOX Phase 3 trial represents an important milestone for Equillium and for COVID-19 patients worldwide. We look forward to partnering with Dr. Douglas and our global sites to further evaluate itolizumab as a promising treatment for hospitalized COVID-19 patients.

This Is Big News

The news released by Equillium today proved to be overwhelmingly positive. At the moment, COVID-19 numbers are starting to climb as the colder months of the year begin to roll in. As the numbers climb, the world is looking for ways to prevent and treat the illness.

If all goes well, data from this pivotal clinical trial will be available early-to-mid next year. Of course, if the data is positive, EQ will benefit from a global push to develop therapies and vaccines, and the process from end of trial to approval will likely be relatively quick.

All in all, EQ seems to be working on a potential goose that lays the golden eggs, making the stock one to pay close attention to.

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