Equillium Joining Russell Microcap Index on June 12, 2024

Equillium, Inc., a clinical-stage biotechnology company based in LA JOLLA, Calif., has announced its anticipated inclusion in the Russell Microcap Index. This inclusion is expected to take effect at the opening of the equity markets on July 1, 2024, as part of the annual Russell reconstitution, which ranks the 4,000 largest US stocks by total market capitalization as of April 30 each year.

The Russell Microcap Index membership, which lasts for one year, includes automatic addition to the corresponding growth and value style indexes. The inclusion in these indexes is primarily determined by FTSE Russell based on objective criteria such as market capitalization rankings and style attributes.

Bruce Steel, the CEO of Equillium, expressed the company's excitement about joining the Russell Microcap Index. He noted that this membership could lead to inclusion in numerous funds that track and benchmark the Russell indices. Steel highlighted the increased exposure Equillium could gain, which would bring attention to their recent Phase 2 data on alopecia areata, indicating that EQ101 was well-tolerated and clinically active. This data will guide future development efforts. He also mentioned their strategic partnership with Ono Pharmaceutical, with the final data package expected in the third quarter of the year.

Equillium focuses on developing innovative therapeutics for severe autoimmune and inflammatory disorders, leveraging a deep understanding of immunobiology. The company’s development pipeline includes several first-in-class immunomodulatory assets and a product platform targeting immuno-inflammatory pathways.

EQ101, a selective tri-specific cytokine inhibitor targeting IL-2, IL-9, and IL-15, has shown positive results in a Phase 2 proof-of-concept clinical study involving patients with alopecia areata in Australia and New Zealand. This study was conducted by Equillium's Australian subsidiary as the trial sponsor.

Another asset, EQ302, is an orally administered, selective bi-specific cytokine inhibitor targeting IL-15 and IL-21, which is currently in pre-clinical development. Additionally, Equillium's multi-cytokine platform generates composite peptides designed to selectively block key cytokines at shared receptor levels, targeting pathogenic cytokine redundancies and synergies while preserving non-pathogenic signaling.

Itolizumab, a monoclonal antibody, targets the CD6-ALCAM signaling pathway, which plays a crucial role in modulating effector T cells. This therapeutic is currently under evaluation in a Phase 3 clinical study for patients with acute graft-versus-host disease (aGVHD) and has shown positive data from a Phase 1b clinical study in patients with lupus and lupus nephritis as of April 2024. Equillium acquired the rights to itolizumab through an exclusive partnership with Biocon Limited and has formed a strategic partnership with Ono Pharmaceutical for its development and commercialization under an option and asset purchase agreement.