Company: SION
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0002036042-25-000016
Chunk: 237

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part II, Item 8
Chunk 237
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 Measurements 

The following tables present information about the Company’s financial instruments that are measured at fair value on a recurring basis and indicates the fair value hierarchy of the inputs the Company utilized to determine such fair value (in thousands): March 31, 2025Total Level 1 Level 2 Level 3 AssetsCash equivalents:Money market funds$56,355 $56,355 $— $— Commercial paper25,841 — 25,841 — Marketable securities:U.S. Treasury securities154,777 154,777 — — Commercial paper53,259 — 53,259 — Government agency securities42,116 — 42,116 — Corporate debt21,841 — 21,841 — Total financial assets$354,189 $211,132 $143,057 $— December 31, 2024TotalLevel 1Level 2Level 3AssetsCash equivalents:Money market funds$37,288 $37,288 $— $— Marketable securities:   U.S. Treasury securities70,679 70,679 — — Government agency securities36,415 — 36,415 — Corporate debt17,227 — 17,227 — Commercial paper5,934 — 5,934 — Total financial assets$167,543 $107,967 $59,576 $— During the three months ended March 31, 2025, there were no transfers or reclassifications between fair value measurement levels of assets or liabilities. The carrying values of prepaid expenses and other current assets, accounts payable and accrued expenses approximate their fair values due to the short-term nature of these assets and liabilities.

5. Property and Equipment, net 

Property and equipment, net consisted of the following (in thousands): March 31,2025December 31,2024Leasehold improvements$1,854 $1,854 Laboratory equipment1,547 1,461 Furniture & fixtures722 722 Total property and equipment4,123 4,037 Less: accumulated depreciation(1,730)(1,571)Property and equipment, net$2,393 $2,466 

Depreciation expense was $0.2 million for both the three months ended March 31, 2025, and 2024. 

F