Monitor for initial safety and PK readouts from the Phase 1 trial, which are likely 6-12 months away. The key value inflection for EQ504 will be Phase 2 proof-of-concept data, not this Phase 1 start.
Price Chart
Executive Summary
Equillium received regulatory clearance from Australian authorities (HREC and TGA) to begin a Phase 1 clinical trial of EQ504, an oral drug candidate. Dosing of healthy volunteers is expected to start by early November 2026. This is an early-stage milestone with no financial data or binary catalyst — the trial is purely exploratory (safety, PK, PD) and years away from any value inflection.
Key Facts
- Received HREC approval and TGA clearance in Australia for Phase 1 trial of EQ504
- Phase 1 is a randomized, double-blinded, placebo-controlled, single-center study in healthy participants
- Dosing expected to begin by early November 2026
- Trial has three parts: SAD (5 cohorts), MAD (3 cohorts, 10-day dosing), and food-effect cohort
- Dose range: 0.1 to 3.0 mg once-daily oral
- MAD part includes GI mucosal biopsies to assess CYP1A1 expression as a PD biomarker
Financial Impact
No financial figures disclosed; pre-revenue clinical-stage biotech with no near-term revenue catalyst
Risk Factors
- Phase 1 trials in healthy volunteers have high failure rates for novel oral compounds
- No disclosed financial runway or financing plan to complete the trial
- EQ504 is an early-stage pipeline asset with no approved products or revenue
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-414364 |
| Document: 0001193125-26-414364-index-headers.html | 0001193125-26-414364 |
| Document: 0001193125-26-414364-index.html | 0001193125-26-414364 |
| Document: 0001193125-26-414364.txt | 0001193125-26-414364 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | Press Release | — | awaiting T+60 | — | — |
Oct 5, 2026 20d ago | 8-K | $1.42 | awaiting T+60 | — | $1.23 (−13.73%) |
Oct 5, 2026 20d ago | Press Release | $1.42 | awaiting T+60 | — | $1.23 (−13.73%) |
Sep 29, 2026 26d ago | Press Release | $1.63 | awaiting T+60 | — | $1.23 (−24.62%) |
Jun 11, 2026 19w ago | Institutional Cluster | $2.81 $2.21 | ▼ −21.35% | ▼ −25.75% | $1.23 (−56.41%) |
Jun 5, 2026 20w ago | Insider Cluster | $2.77 $2.21 | ▲ +20.40% | ▲ +23.45% | $1.23 (+55.78%) |
May 29, 2026 21w ago | Insider Cluster | $3.08 $2.18 | ▼ −29.22% | ▼ −30.45% | $1.23 (−60.23%) |
May 20, 2026 22w ago | Press Release | $2.21 | awaiting T+60 | — | $1.23 (−44.57%) |
Apr 17, 2026 27w ago | EFFECT | $2.05 $2.76 | ▲ +34.63% | ▲ +28.49% | $1.23 (−40.24%) |
Apr 15, 2026 27w ago | DEFA14A | $2.05 $2.91 | ▲ +41.95% | ▲ +33.81% | $1.23 (−40.24%) |
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