Company: SION
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0002036042-25-000016
Chunk: 458

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 2
Chunk 458
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Interest Income

Interest income consists primarily of interest earned and the amortization of discount or premiums on our cash equivalents and investments in marketable securities. 

Other Income

Other income consists of sublease income through our subleasing agreement which is further discussed within Note 7, “Leases,” in our audited consolidated annual financial statements in the Annual Report.

18

Table of Contents

Results of Operations

Comparison of the Three Months Ended March 31, 2025 and 2024

The following table summarizes our results of operations (in thousands):

Three Months Ended March 31,Change20252024Operating expenses:Research and development$13,668 $10,220 $3,448 General and administrative5,991 2,927 3,064 Total operating expenses19,659 13,147 6,512 Loss from operations(19,659)(13,147)(6,512)Other income:Interest income3,000 1,132 1,868 Other income177 168 9 Total other income:3,177 1,300 1,877 Net loss$(16,482)$(11,847)$(4,635)

 Research and Development Expenses

The following table summarizes our research and development expenses (in thousands):

Three Months Ended March 31,Change20252024Direct research and development expenses by program:NBD1 and combination development programs(1)$8,116 $4,370 $3,746 Complementary modulator programs851 2,660 (1,809)Unallocated research and development expenses:Personnel-related (including stock-based compensation)3,187 1,965 1,222 Other R&D related costs986 582 404 Facility, lab and depreciation528 643 (115)Total research and development expenses$13,668 $10,220 $3,448 

(1)NBD1 and combination development program costs include NBD1 stabilizer activities and development of our proprietary combination therapy. Complementary modulator program costs include manufacturing expenses for the modulators.

Research and development expenses increased by $3.4 million to $13.7 million for the three months ended March 31, 2025, from $10.2 million for the three months ended March 31, 2024. The increase in research and development expenses was primarily due to:

•direct research and development expenses increased by $1.9 million primarily