Company: SION
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049251
Chunk: 323

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 323
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 those individuals in executive, legal, finance, human resources, information technology and other administrative functions. Other significant costs include legal fees relating to intellectual property and corporate matters, professional fees for auditing, accounting, tax and consulting services.  Lastly, corporate overhead expenses such as information technology, insurance, facilities, and depreciation that are not allocated to the Company’s research and development activities are included in general and administrative expenses. We recognize general and administrative expenses in the periods in which they are incurred.

We anticipate that our general and administrative expenses will increase in the future to support our increased research and development activities, pre-commercial preparation activities for our product candidates and any future product candidates and, if any product candidate receives marketing approval, commercialization activities. These increases will likely include increased costs related to the hiring of additional personnel and fees paid to outside consultants, among other expenses. We also anticipate increased expenses related to audit, accounting, legal and regulatory services associated with public company reporting and compliance, director and officer insurance premiums, investor and public relations costs and other administrative and professional services associated with operating as a public company.

Interest Income

Interest income consists primarily of interest earned and the amortization of discount or premiums on our cash equivalents and investments in marketable securities. 

Other Income

Other income consists of sublease income through our subleasing agreement which is further discussed within Note 7, “Leases,” in our audited consolidated annual financial statements in the Annual Report.

19

Results of Operations

Comparison of the Three Months Ended September 30, 2025 and 2024

The following table summarizes our results of operations (in thousands):

Three Months Ended September 30,Change20252024Operating expenses:Research and development$16,044 $24,582 $(8,538)General and administrative7,761 3,402 4,359 Total operating expenses23,805 27,984 (4,179)Loss from operations(23,805)(27,984)4,179 Other income:Interest income3,456 2,353 1,103 Other income71 190 (119)Total other income:3,527 2,543 984 Net loss$(20,278)$(25,441)$5,163 

 Research and Development Expenses

The following table summarizes our research and development expenses (in thousands):

Three Months Ended September 30,Change20252024Direct research and development expenses by program:NBD1 and combination development programs(1)$8,609