Company: SION
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049251
Chunk: 326

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 326
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 combination development program costs include NBD1 stabilizer activities and development of our proprietary combination therapy. Complementary modulator program costs include manufacturing expenses for the complementary modulators.

Research and development expenses increased by $2.1 million to $45.1 million for the nine months ended September 30, 2025, from $43.0 million for the nine months ended September 30, 2024. The increase in research and development expenses was primarily due to:

•direct research and development expenses increased by $10.4 million primarily due to an increase in clinical programs and combination development activities; and

•unallocated research and development expenses decreased by $8.3 million primarily due IPR&D acquisition costs incurred in connection with our license agreement with AbbVie of $13.6 million in the third quarter of 2024, partially offset by a $4.1 million increase in personnel-related expenses including stock-based compensation, driven by an increase in the size of our workforce to support our clinical pipeline. 

General and Administrative Expenses

The following table summarizes our general and administrative expenses (in thousands):

Nine Months Ended September 30,Change20252024Personnel-related (including stock-based compensation)$12,889 $5,608 $7,281 Professional services & fees5,957 2,636 3,321 Facility and depreciation1,429 1,144 285 Total general and administrative expenses$20,275 $9,388 $10,887 

General and administrative expenses increased by $10.9 million to $20.3 million for the nine months ended September 30, 2025, from $9.4 million for the nine months ended September 30, 2024. The increase in general and administrative expenses was primarily due to:

•$7.3 million increase in personnel-related expenses including stock-based compensation, driven by an increase in the size of our workforce; and

•$3.3 million increase in fees related to the increased use of consultants and professional service organizations.

22

Interest Income

Interest income increased by $4.0 million to $10.1 million for the nine months ended September 30, 2025, from $6.1 million for the nine months ended September 30, 2024, primarily driven by an increased investment in debt securities due to the proceeds received from the initial public offering and the amortization of discounts on our investment activity.

Other Income

Other income was $0.4