Equillium to be included in the Russell Microcap® Index

Rhea-AI Summary

Equillium (Nasdaq: EQ), a clinical-stage biotech firm, announced its expected inclusion in the Russell Microcap Index effective July 1, 2024. This follows the Russell annual reconstitution, which ranks the 4,000 largest US stocks by market capitalization. Membership in this index lasts a year and also includes growth and value style indexes. CEO Bruce Steel noted that this will increase Equillium's exposure, benefiting from its recent Phase 2 data on EQ101 for alopecia areata and its partnership with Ono Pharmaceutical.

Positive

• Expected inclusion in the Russell Microcap Index increases visibility and potential investment.
• Phase 2 data indicates EQ101 for alopecia areata is well-tolerated and clinically active.
• Membership in the index lasts for one year, ensuring sustained exposure.
• Potential inclusion in growth and value style indexes can attract diverse investment funds.

Negative

• Inclusion is not guaranteed until July 1, 2024.
• No financial performance or revenue figures provided.
• Potential delay in delivering final data package for Phase 2 results.

LA JOLLA, Calif.--(BUSINESS WIRE)-- Equillium, Inc. (Nasdaq: EQ), a clinical-stage biotechnology company focused on developing novel therapeutics to treat severe autoimmune and inflammatory disorders, today announced that it expects to join the Russell Microcap Index at the conclusion of the 2024 Russell annual reconstitution, effective at the open of equity markets on Monday, July 1, according to a preliminary list of additions posted Friday, May 24.

The annual Russell reconstitution captures the 4,000 largest US stocks as of Tuesday, April 30, ranking them by total market capitalization. Membership in the Russell Microcap Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

“We’re happy to be joining the Russell Microcap Index, paving the way for potential inclusion in a large number of funds that aim to mimic and benchmark the Russell indices,” said Bruce Steel, chief executive officer at Equillium. “This increased exposure can also highlight our recent Phase 2 alopecia areata data – indicating EQ101 was well-tolerated and clinically active – that will inform future development, as well as our partnership with Ono Pharmaceutical where we expect to delivery our final data package during the third quarter of this year.”

About Equillium

Equillium is a clinical-stage biotechnology company leveraging a deep understanding of immunobiology to develop novel therapeutics to treat severe autoimmune and inflammatory disorders with high unmet medical need. The company’s pipeline consists of the following novel first-in-class immunomodulatory assets and product platform targeting immuno-inflammatory pathways. EQ101: a selective tri-specific cytokine inhibitor targeting IL-2, IL-9, and IL-15; recently announced positive results from a Phase 2 proof-of-concept clinical study of patients with alopecia areata in Australia and New Zealand by Equillium’s Australian subsidiary as the trial sponsor. EQ302: an orally delivered, selective bi-specific cytokine inhibitor targeting IL-15 and IL-21; currently in pre-clinical development. The multi-cytokine platform: generates rationally designed composite peptides that selectively block key cytokines at the shared receptor level targeting pathogenic cytokine redundancies and synergies while preserving non-pathogenic signaling. Itolizumab: a monoclonal antibody that targets the CD6-ALCAM signaling pathway which plays a central role in the modulation of effector T cells; currently under evaluation in a Phase 3 clinical study of patients with acute graft-versus-host disease (aGVHD) and announced positive data from a Phase 1b clinical study of patients with lupus/lupus nephritis in April 2024. Equillium acquired rights to itolizumab through an exclusive partnership with Biocon Limited and has entered a strategic partnership with Ono Pharmaceutical Co., Ltd. (Ono), for the development and commercialization of itolizumab under an option and asset purchase agreement.

For more information, visit www.equilliumbio.com.

Forward Looking Statements

Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate", “believe”, “could”, “continue”, “expect”, “estimate”, “may”, “plan”, “outlook”, “future” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements include, but are not limited to, statements regarding Equillium’s expectation that it will be included in the Russell Microcap Index and the timing for its inclusion, the inclusion of Equillium in the Russell Microcap Index will potentially lead to Equillium’s inclusion in a larger number of funds, increased exposure from inclusion in the Russell Microcap Index will highlight Equillium’s current programs, plans for developing EQ101 and the expected timeline for results from clinical studies, the timing for triggering Ono’s option period and receiving Ono’s option decision, and the potential benefits of Equillium’s product candidates. Because such statements are subject to risks and uncertainties, many of which are outside of Equillium’s control, actual results may differ materially from those expressed or implied by such forward-looking statements. Risks that contribute to the uncertain nature of the forward-looking statements include: the risk that Equillium will not be included in the Russell Microcap Index on the stated timeline or at all; the degree to which Equillium will realize the expected benefits from inclusion in the Russell Microcap Index, if all, Equillium’s ability to execute its plans and strategies; risks related to performing clinical and pre-clinical studies; whether the results from clinical and pre-clinical studies will validate and support the safety and efficacy of Equillium’s product candidates; changes in the competitive landscape; and risks related to Ono’s financial condition and decision to exercise its option, if ever to purchase itolizumab or terminate the asset purchase agreement. These and other risks and uncertainties are described more fully under the caption “Risk Factors” and elsewhere in Equillium's filings and reports, which may be accessed for free by visiting the Securities and Exchange Commission’s website at www.sec.gov and on Equillium’s website under the heading “Investors.” Investors should take such risks into account and should not rely on forward-looking statements when making investment decisions. All forward-looking statements contained in this press release speak only as of the date on which they were made. Equillium undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240612177757/en/

Investor

Michael Moore

Vice President, Investor Relations & Corporate Communications

619-302-4431

ir@equilliumbio.com

Source: Equillium, Inc.

FAQ

When will Equillium be included in the Russell Microcap Index?

Equillium is expected to be included in the Russell Microcap Index effective at the open of equity markets on July 1, 2024.

What is Equillium's stock symbol?

Equillium's stock symbol is EQ.

What does inclusion in the Russell Microcap Index mean for Equillium?

Inclusion means automatic membership in relevant growth and value style indexes, increasing visibility and potential investment.

What recent clinical data has Equillium announced?

Equillium announced Phase 2 data for EQ101, indicating it is well-tolerated and clinically active for treating alopecia areata.

Who is Equillium's partner in its clinical developments?

Equillium is partnered with Ono Pharmaceutical.

What is the significance of the Russell annual reconstitution?

The Russell annual reconstitution ranks the 4,000 largest US stocks by market capitalization, determining inclusion in various indexes.