Company: SION
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049251
Chunk: 327

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 327
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 million and $0.5 million for the nine months ended September 30, 2025, and 2024, respectively, due to sublease income in connection with our subleasing agreement.

Liquidity and Capital Resources

Sources of Liquidity

Since our inception, we have not generated any revenue from product sales and have incurred significant operating losses and negative cash flows from operations. We expect to continue to incur significant expenses and operating losses for the foreseeable future as we advance the clinical development of our product candidates and any future product candidates. As such, we expect our research and development and general and administrative costs will continue to increase significantly, including the costs associated with operating as a public company. As a result, we will need additional capital to fund our operations, which we may obtain from additional equity or debt financings or strategic agreements.

As of September 30, 2025, we had $325.0 million in cash, cash equivalents and marketable securities.

Cash Flows

The following table sets forth a summary of the net cash flow activity (in thousands):

Nine Months Ended September 30,20252024Net cash used in operating activities$(49,671)$(41,006)Net cash used in investing activities(141,337)(142,141)Net cash provided by financing activities204,051 180,375 Net increase (decrease) in cash, cash equivalents and restricted cash$13,043 $(2,772)

Operating Activities

For the nine months ended September 30, 2025, net cash used in operating activities was $49.7 million primarily due to our net loss of $54.8 million and changes in operating assets and liabilities of $2.4 million, partially offset by $7.5 million of net non-cash charges, which includes stock-based compensation, depreciation, non-cash operating lease expense and amortization of discounts on marketable securities.

For the nine months ended September 30, 2024, net cash used in operating activities was $41.0 million  primarily due to our net loss of $45.8 million and changes in operating assets and liabilities of $6.2 million, partially offset by $11.0 million of net non-cash charges, which includes stock-based compensation, depreciation, non-cash operating lease expense, non-cash expense related to IPR&D acquisition and amortization of discounts on marketable securities.

Investing Activities

Net cash used in investing activities was $141.3 million during the nine months ended