Company: SION
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0002036042-25-000016
Chunk: 217

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 217
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 the Company’s common stock option activity for the three months ended March 31, 2025: Number ofCommonStockOptionsWeighted-AverageExercise PriceWeighted-AverageRemainingContractual TermAggregateIntrinsic Value(in years)(in thousands)Outstanding as of December 31, 20243,700,335$5.87 8.3$16,522 Granted1,949,58817.99 Exercised—— Cancelled or forfeited—— Outstanding as of March 31, 20255,649,923$10.05 8.7$16,993 Exercisable as of March 31, 20251,741,157$5.70 7.4$8,564 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 months ended March 31, 2025, was $13.20. 

F-11

Table of Contents

Stock-Based Compensation Expense During the three months ended March 31, 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 EndedMarch 31,20252024Research and development expense$804 $279 General and administrative expense1,290 368 Total$2,094 $647 

As of March 31, 2025, there was $33.5 million of unrecognized stock-based compensation expense for common stock option awards that are expected to be recognized over a weighted average period of 3.1 years. As of March 31, 2025, the unrecognized stock-based compensation expense for restricted common stock awards is de minimis. 

10. Segment Information 

The following table presents segment net loss, including significant expense categories (in thousands):Three Months EndedMarch 31,20252024Research and development expenses:External research and development expenses(1)$9,978 $7,719 Personnel-related expenses, excluding stock-based compensation2,3831,687Facility and information technology allocated expenses440464General and administrative expenses:Personnel-related expenses, excluding stock-based compensation2,2321,200General corporate and facility expenses(2)1