<SEC-DOCUMENT>0001415889-25-014400.txt : 20250523
<SEC-HEADER>0001415889-25-014400.hdr.sgml : 20250523
<ACCEPTANCE-DATETIME>20250523135043
ACCESSION NUMBER:		0001415889-25-014400
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250521
FILED AS OF DATE:		20250523
DATE AS OF CHANGE:		20250523

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Colabuono Peter
		CENTRAL INDEX KEY:			0001819620
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38692
		FILM NUMBER:		25981011

	MAIL ADDRESS:	
		STREET 1:		C/O DECHENG CAPITAL
		STREET 2:		3000 SAND HILL ROAD, BUILDING 2, STE 110
		CITY:			MENLO PARK
		STATE:			CA
		ZIP:			94025

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Equillium, Inc.
		CENTRAL INDEX KEY:			0001746466
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				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>form4-05232025_050539.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-05-21</periodOfReport>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001819620</rptOwnerCik>
            <rptOwnerName>Colabuono Peter</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O EQUILLIUM, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>2223 AVENIDA DE LA PLAYA, SUITE 105</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>Director Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.39</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2025-05-21</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>2035-05-20</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 21, 2025, 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>/s/ Bruce Steel, Attorney-in-Fact</signatureName>
        <signatureDate>2025-05-23</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
