Company: SION
Filing Date: 2025-02-03
Form Type: S-1/A
Source: 0001193125-25-018825
Chunk: 337

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-02-03
Form: S-1/A
Chunk 337
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         | 11,886 |     |         | — |
| U.S. Treasury securities     |     |                   | 15,887 |     |         | 15,887 |     |         |      — |     |         | — |
| Total financial assets       |     | $                 | 71,797 |     | $       | 57,993 |     | $       | 13,804 |     | $       | — |

As of December 31, 2023 and 2022, the Company had no financial liabilities that required fair value measurement. As of December 31, 2023, the Company had cash equivalents consisting of money market funds classified as Level 1 financial assets, as these assets are valued using quoted market prices in active markets without any valuation adjustments. Additionally, the Company holds commercial paper which were considered Level 2 category assets as these have quoted prices in markets that are not considered to be active. As of December 31, 2022, the Company held both marketable securities as well as U.S. Treasuries which were included in cash equivalents and are considered Level 1 category assets. Additionally, the Company held both government agency securities and commercial paper which are considered Level 2 category assets. During the year ended December 31, 2023 and 2022, there were no transfers or reclassifications between fair value measurement levels of assets or liabilities. The carrying values of prepaid expenses and other current assets, accounts payable and accrued expenses and other current liabilities approximate their fair values due to the short-term nature of these assets and liabilities. F-16

5. Property and Equipment, net Property and equipment, net consisted of the following (in thousands):

|                                      |     | December 31, |  2023 |   |     |   |  2022 |   |
|:-------------------------------------|:----|:-------------|------:|:--|:----|:--|------:|:--|
| Deposits on lab and office equipment |     | $            |   116 |   |     | $ |   780 |   |
| Construction-in-progress             |     |              |     — |   |     |   | 1,521 |   |
| Laboratory equipment                 |     |              | 1,329 |   |     |   |   617 |   |
| Leasehold improvements               |     |              | 1,854 |   |     |   |