Equillium's journey in the pharmaceutical industry presents a compelling case study of the complexities and challenges inherent in drug development, particularly in the realm of Immunobiology. 

The company's pursuit of breakthrough status, despite encountering significant setbacks like missing primary endpoints in clinical trials, underscores the intricate interplay of scientific innovation, regulatory hurdles, and market demands. This essay will delve into Equillium's endeavors, analyze the implications of missing primary endpoints, and highlight the critical role of immunobiology research in advancing therapeutic solutions.