Company: SION
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049251
Chunk: 353

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part II, Item 8
Chunk 353
---
 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 million and $0.5 million for the nine months ended September 30, 2025, and 2024, respectively, due to sublease income in connection with our subleasing agreement.

Liquidity and Capital Resources

Sources of Liquidity

Since our inception, we have not generated any revenue from product sales and have incurred significant operating losses and negative cash flows from operations. We expect to continue to incur significant expenses and operating losses for the foreseeable future as we advance the clinical development of our product candidates and any future product candidates. As such, we expect our research and development and general and administrative costs will continue to increase significantly, including the costs associated with operating as a public company. As a result, we will need additional capital to fund our operations, which we may obtain from additional equity or debt financings or strategic agreements.

As of September 30, 2025, we had $325.0 million in cash, cash