<SEC-DOCUMENT>0001415889-24-014372.txt : 20240523
<SEC-HEADER>0001415889-24-014372.hdr.sgml : 20240523
<ACCEPTANCE-DATETIME>20240523180425
ACCESSION NUMBER:		0001415889-24-014372
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20240522
FILED AS OF DATE:		20240523
DATE AS OF CHANGE:		20240523

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			DEMSKI MARTHA J
		CENTRAL INDEX KEY:			0001198230
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38692
		FILM NUMBER:		24980080

	MAIL ADDRESS:	
		STREET 1:		7770 REGENTS ROAD SUITE 113-505
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92122

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Equillium, Inc.
		CENTRAL INDEX KEY:			0001746466
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		IRS NUMBER:				821554746
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		2223 AVENIDA DE LA PLAYA
		STREET 2:		SUITE 105
		CITY:			LA JOLLA
		STATE:			CA
		ZIP:			92037
		BUSINESS PHONE:		(858) 412-5302

	MAIL ADDRESS:	
		STREET 1:		2223 AVENIDA DE LA PLAYA
		STREET 2:		SUITE 105
		CITY:			LA JOLLA
		STATE:			CA
		ZIP:			92037
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4-05232024_100518.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2024-05-22</periodOfReport>

    <issuer>
        <issuerCik>0001746466</issuerCik>
        <issuerName>Equillium, Inc.</issuerName>
        <issuerTradingSymbol>EQ</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001198230</rptOwnerCik>
            <rptOwnerName>DEMSKI MARTHA J</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2223 AVENIDA DE LA PLAYA, SUITE 105</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>LA JOLLA</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>92037</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1.43</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2024-05-22</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>20000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2034-05-22</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>20000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>20000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The option vests in twelve equal monthly installments commencing on the grant date of May 22, 2024, provided that the option will, in any case, be fully vested on the date of the Issuer's annual meeting of stockholders following the grant date.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Jason A. Keyes, Attorney-in-Fact for Martha J. Demski</signatureName>
        <signatureDate>2024-05-23</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
