Another $20 million is expected to fund planned operations into 2029 after a gut-targeted drug's first dose.

Equillium Inc. (EQ) dosed the first subject in a Phase 1 trial for EQ504, an oral drug for inflammatory diseases. The company expects to raise $20M in a private placement. EQ504 is being tested in Australia in healthy volunteers. If Phase 1 data is supportive, a proof-of-concept study in ulcerative colitis patients is planned for 2027. EQ's stock closed at $1.25, up 1.63%.

Equillium, Inc. (EQ) has started a Phase 1 trial for EQ504 in Australia and expects a $20M funding milestone from its 2025 equity private placement, which will fund operations into 2029. The company anticipates further catalysts in 2027 with Phase 1 results and a potential UC proof-of-concept study.

Piper Sandler maintained a $20 price target for Equillium (EQ), citing Australian regulatory clearance for its EQ504 drug. The stock is down 10% this week. Clear Street also initiated coverage with a $9 target. Equillium plans Phase 1 trials for EQ504, an AhR modulator, with data expected in 2027. The company has a market cap of $91.94M and trades near InvestingPro’s Fair Value estimate.

Equillium (EQ) received Australian regulatory approval for its Phase 1 EQ504 trial, expecting to begin dosing by early November 2026. The study will assess safety, tolerability, and pharmacokinetics in healthy participants.

Equillium, Inc. (EQ) filed an SEC Form 8-K — Other Events. Item 8.01 Other Events. On October 5, 2026, Equillium, Inc. (the Company) announced that the Company has received Human Research Ethics Committee approval and clearance from the Therapeutic Goods Administration in Australia under the Clinical Trial Notification scheme for its Pha

Equillium (EQ) received approval in Australia to start a Phase 1 trial of EQ504, with dosing expected by early Nov. 2026. The company anticipates topline proof-of-mechanism data around 6 months after the trial begins, according to the press release.