Company: SION
Filing Date: 2025-01-17
Form Type: S-1
Source: 0001193125-25-008474
Chunk: 139

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-01-17
Form: S-1
Chunk 139
---

federal NOLs are not subject to expiration and the state NOLs begin to expire in 2043. These loss carryforwards are available to reduce future federal taxable income, if any. As of the nine months ended September 30, 2024 and 2023, and the
years ended December 31, 2023 and 2022, we have recorded a full valuation allowance against our net deferred tax assets.

99

Results of Operations Comparison of the Nine Months Ended September 30, 2024 and 2023 The following table summarizes our results of operations (in thousands):

| Operating expenses:        | 2024 | Nine Months         
 Ended September 30, |         |   | 2023 |   |         |   |     | Change |         |   |
|:---------------------------|:-----|:--------------------|--------:|:--|:-----|:--|--------:|:--|:----|:-------|--------:|:--|
| Research and development   |      | $                   |  43,035 |   |      | $ |  30,736 |   |     | $      |  12,299 |   |
| General and administrative |      |                     |   9,388 |   |      |   |   7,002 |   |     |        |   2,386 |   |
| Total operating expenses   |      |                     |  52,423 |   |      |   |  37,738 |   |     |        |  14,685 |   |
| Loss from operations       |      |                     | (52,423 | ) |      |   | (37,738 | ) |     |        | (14,685 | ) |
| Other income:              |      |                     |         |   |      |   |         |   |     |        |         |   |
| Interest income            |      |                     |   6,051 |   |      |   |   2,216 |   |     |        |   3,835 |   |
| Other income               |      |                     |     532 |   |      |   |     135 |   |     |        |     397 |   |
| Total other income:        |      |                     |   6,583 |   |      |   |   2,351 |   |     |