Company: SION
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0002036042-25-000016
Chunk: 209

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 209
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 to net cash used in operating activities:Stock-based compensation expense2,094 647 Non-cash operating lease expense491 492 Amortization of discount on marketable securities(697)(111)Depreciation expense159 166 Changes in operating assets and liabilities:Prepaid expenses and other current assets(559)(1,243)Accounts payable3,554 1,670 Accrued expenses(4,320)(2,622)Operating lease liabilities(528)(342)Other assets— 15 Net cash used in operating activities(16,288)(13,175)Cash flows from investing activities:Purchases of property and equipment(86)— Purchases of marketable securities(171,595)(123,927)Maturities of marketable securities30,487 — Net cash used in investing activities(141,194)(123,927)Cash flows from financing activities:Proceeds from initial public offering, net of underwriter discounts, commissions and offering costs paid during the period202,389 — Proceeds from issuance of Series C convertible preferred stock, net of issuance costs— 181,328 Exercise of common stock options— 5 Net cash provided by financing activities202,389 181,333 Net increase in cash, cash equivalents and restricted cash44,907 44,231 Cash, cash equivalents and restricted cash at beginning of period38,750 39,483 Cash, cash equivalents and restricted cash at end of period$83,657 $83,714 Supplemental disclosure of non-cash investing and financing activities:Conversion of convertible preferred stock into common stock upon closing of initial public offering$330,368 $— Offering costs transferred to additional paid in capital 4,265—Offering costs in accrued expenses and accounts payable318—Reconciliation of cash, cash equivalents and restricted cash:Cash and cash equivalents$82,695 $82,752 Restricted cash962 962 Total cash, cash equivalents, and restricted cash$83,657 $83,714 The accompanying notes are an integral part of these condensed consolidated financial statements. 

F-5

Table of Contents

SIONNA THERAPEUTICS, INC. 

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 

(Unaudited)

1. Nature of the Business 

Organization Sionna Therapeutics, Inc. (the “Company”), formerly known as Sling Therapeutics, Inc.,