Company: SION
Filing Date: 2025-01-17
Form Type: S-1
Source: 0001193125-25-008474
Chunk: 131

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-01-17
Form: S-1
Chunk 131
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30, 2024 and 2023, respectively, and $47.3 million and $40.2 million for the years ended December 31, 2023 and 2022, respectively. As of September 30, 2024, we had an accumulated deficit of $165.2 million. We expect our expenses and operating losses will increase substantially as we:

| • |     | continue to advance the clinical development of our current and future product candidates, including our lead NBD1 
 stabilizer product candidate, including conducting our ongoing clinical trials;                                    |

| • |     | continue to advance our research activities and seek to discover and develop additional product candidates to expand our 
 pipeline;                                                                                                                |

| • |     | pursue regulatory approvals for any current or future product candidates, including our lead NBD1 stabilizer product 
 candidate, that successfully complete clinical trials;                                                               |

| • |     | continue to utilize third parties to manufacture our product candidates; |

| • |     | continue to develop, maintain, expand, enforce, defend and protect our intellectual property portfolio (including                             
 intellectual property obtained through license agreements) and provide reimbursement of third-party expenses related to our patent portfolio; |

| • |     | attract, hire and retain additional qualified personnel; |

| • |     | add operational, financial and management information systems; |

| • |     | undertake pre-commercial activities, and                                                                                                                       
 scale-up external commercial-scale manufacturing capabilities, to commercialize any current or future product candidates which may obtain regulatory approval; |

| • |     | ultimately establish a sales, marketing and distribution infrastructure to commercialize any current or future product 
 candidates which may receive regulatory approval; and                                                                  |

| • |     | incur additional audit, legal, regulatory, tax and other expenses associated with being a public company. |

In addition, we have several clinical development, regulatory, and commercial milestones, as well as royalty payment obligations under our licensing arrangements. Our net losses may fluctuate significantly from quarter to quarter and year to year, depending on the timing of our ongoing and planned clinical trials and our expenditures on other research and development activities. We do not have any products approved for sale and have not generated any revenue from product sales. We will not generate revenue from product sales unless and until we successfully complete clinical development and obtain regulatory approval for our current and any future product candidates, which we expect will take a number of years or may never occur. As a result, we will need substantial additional funding to support our continuing operations and