JonesResearch downgraded Equillium (EQ) to Hold from Buy without a price target after the company announced that Ono Pharmaceutical (OPHLY) declined the option to acquire itolizumab. Equillium now has full commercial rights, “but there are several roadblocks,” the analyst tells investors in a research note. The firm prefers to wait on the sidelines until Equillium resolves the regulatory and trial design issues.
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Read More on EQ:
- Equillium: Ono to allow option to acquire rights to itolizumab to expire
- Equillium temporarily pausing EQUATOR enrollment to review clinical options
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