Company: SION
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049251
Chunk: 341

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part II, Item 8
Chunk 341
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Weighted-AverageExercise PriceWeighted-AverageRemainingContractual TermAggregateIntrinsic Value(in years)(in thousands)Outstanding as of December 31, 20243,700,335$5.87 8.3$16,522 Granted2,396,96017.52 Exercised(339,133)5.84 Cancelled or forfeited(44,393)10.80 Outstanding as of September 30, 20255,713,769$10.72 8.4$106,785 Exercisable as of September 30, 20252,107,416$7.01 7.4$47,196 

F-12

The aggregate intrinsic value of stock options is calculated as the difference between the exercise price of the stock options and the estimated fair value of the Company’s common stock for those stock options that had exercise prices lower than the fair value of the Company’s common stock. The weighted-average grant date fair value of options granted during the three and nine months ended September 30, 2025, was $15.38 per share and $12.84 per share, respectively. The total intrinsic value of stock options exercised for the three and nine months ended September 30, 2025 was $5.9 million and $6.0 million, respectively.Stock-Based Compensation Expense During the three and nine months ended September 30, 2025, and 2024, the Company recorded stock-based compensation in the accompanying condensed consolidated statements of operations and comprehensive loss as follows (in thousands): Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Research and development expense$1,104 $407 $2,992 $1,082 General and administrative expense2,202 619 5,248 1,562 Total$3,306 $1,026 $8,240 $2,644 

As of September 30, 2025, there was $32.0 million of unrecognized stock-based compensation expense for common stock option awards that are expected to be recognized over a weighted average period of 2.7 years. The stock-based compensation expense for restricted common stock awards was de minimis and fully recognized during the three months ended June 30, 2025, when the final vesting conditions were met. 

F-13

10. Segment Information 

The following table presents segment net