Company: SION
Filing Date: 2025-02-03
Form Type: S-1/A
Source: 0001193125-25-018825
Chunk: 56

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-02-03
Form: S-1/A
Chunk 56
---
 conditions generally. The collaborator may also consider alternative product candidates for similar indications that may be available to collaborate on and whether such a collaboration could be more attractive than the one with us for our product candidate. Collaborations are complex and time-consuming to negotiate and document. In addition, there have been a significant number of recent business combinations among large pharmaceutical companies that have resulted in a reduced number of potential future collaborators. Collaborations involving our product candidates would pose the following risks to us:

| • |     | collaborators have significant discretion in determining the efforts and resources that they will apply to these 
 collaborations;                                                                                                  |

| • |     | collaborators may not perform their obligations as expected, or at all; |

| • |     | collaborators may not pursue development and commercialization of any product candidates that achieve regulatory approval                                                                                                                     
 or may elect not to continue or renew development or commercialization programs based on clinical trial results, changes in the collaborators’ strategic focus or available funding, or external factors, such as an acquisition, that divert 
 resources or create competing priorities;                                                                                                                                                                                                     |

| • |     | collaborators may delay clinical trials, provide insufficient funding for a clinical trial program, stop a clinical trial                       
 or abandon a product candidate, repeat or conduct new clinical trials or require a new formulation of a product candidate for clinical testing; |

| • |     | collaborators could independently develop, or develop with third parties, products that compete directly or indirectly with                                                                                      
 our product candidates if the collaborators believe that competitive products are more likely to be successfully developed or can be commercialized under terms that are more economically attractive than ours; |

| • |     | a collaborator with marketing and distribution rights to one or more of our product candidates that achieve regulatory 
 approval may not commit sufficient resources to the marketing and distribution of such products;                       |

| • |     | disagreements with collaborators, including disagreements over proprietary rights, contract interpretation or the preferred                                                                                                                             
 course of development, might cause delays or termination of the research, development or commercialization of product candidates, might lead to additional responsibilities for us with respect to product candidates, or might result in litigation or 
 arbitration, any of which would be time-consuming and expensive;                                                                                                                                                                                        |

| • |     | collaborators may not properly maintain or defend our or their intellectual property rights or may use our or their                                                                           
 proprietary information in such a way as to invite litigation that could jeopardize or invalidate such intellectual property or proprietary information or expose us to potential litigation; |

| • |     | collaborators may infringe