Company: SION
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0002036042-25-000016
Chunk: 459

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 2
Chunk 459
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 due to an increase in clinical programs and combination development activities; and

•unallocated research and development expenses increased by $1.5 million primarily due to a $1.2 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. 

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Table of Contents

General and Administrative Expenses

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

Three Months Ended March 31,Change20252024Personnel-related (including stock-based compensation)$3,523 $1,569 $1,954 Professional services & fees2,037 992 1,045 Facility and depreciation431 366 65 Total general and administrative expenses$5,991 $2,927 $3,064 

General and administrative expenses increased by $3.1 million to $6.0 million for the three months ended March 31, 2025, from $2.9 million for the three months ended March 31, 2024. The increase in general and administrative expenses was primarily due to:

•$2.0 million increase in personnel-related expenses including stock-based compensation, driven by an increase in the size of our workforce; and

•$1.0 million increase in fees related to the increased use of consultants and professional service organizations.

Interest Income

Interest income increased by $1.9 million to $3.0 million for the three months ended March 31, 2025, from $1.1 million for the three months ended March 31, 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 $0.2 million for both the three months ended March 31, 2025, and 2024, 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