RTTNews | Jul 13, 2020 10:10AM EDT

10:09 Monday, July 13, 2020 (RTTNews.com) - Shares of Equillium, Inc. (EQ) nearly triples on Monday morning after the company said a clinical trial demonstrated that itolizumab significantly reduced mortality in patients with COVID-19.

EQ is currently trading at $8.68, up $5.49 or 172.10%, on the Nasdaq.

Equillium, a clinical-stage biotechnology company developing itolizumab to treat severe autoimmune and inflammatory disorders, said a clinical trial conducted in India by Biocon demonstrated that itolizumab significantly reduced mortality in patients hospitalized with COVID-19.

Biocon has announced that the Drugs Controller General of India, the regulatory agency that oversees drug approvals, has granted restricted emergency use of itolizumab for the treatment of cytokine release syndrome in COVID-19 patients with moderate to severe acute respiratory distress syndrome in India.

Equillium is planning to conduct a global randomized controlled clinical trial of itolizumab in COVID-19 patients for which it will file a U.S. investigational new drug application.

Read the original article on RTTNews ( https://www.rttnews.com/3110537/stock-alert-equillium-surges-as-co-said-its-itolizumab-reduces-mortality-in-patients-with-covid-19.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com All Rights Reserved