Equillium doses first subject in Phase 1 trial of EQ504, triggers $20M milestone financing

Equillium reported one clinical and one financial update tied to its EQ504 program for inflammatory disease.

• Equillium announced that the first subject has been dosed in Australia in its Phase 1 clinical trial of EQ504, an investigational oral, colon-targeted aryl hydrocarbon receptor modulator being developed for serious inflammatory diseases.¹ The trial, registered as NCT07869225, is a randomized, double-blind, placebo-controlled, single-center study evaluating safety, tolerability, pharmacokinetics and pharmacodynamics of EQ504 in approximately 70 healthy subjects.¹ The company said that subject to supportive Phase 1 data, it anticipates starting a placebo-controlled proof-of-concept study in patients with moderately to severely active ulcerative colitis in the second half of 2027.¹
• Dosing of the first subject triggered the anticipated milestone closing under the company's August 2025 equity private placement, adding $20 million in shares of common stock or pre-funded warrants.¹ With the proceeds from this closing, the company expects its cash and cash equivalents to fund currently planned operations into 2029.¹