Company: SION
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0002036042-25-000016
Chunk: 238

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part II, Item 8
Chunk 238
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Table of Contents

6. Accrued Expenses 

Accrued expenses consisted of the following (in thousands): March 31,2025December 31,2024Accrued research and development$1,449 $3,961 Accrued compensation and benefits989 2,972 Accrued professional fees823 737 Accrued other89 — Accrued offering costs39 492 Total accrued expenses$3,389 $8,162 

7. Commitments and Contingencies 

Operating Leases The Company leases office space under a noncancelable operating lease. There have been no material changes to the Company’s lease during the three months ended March 31, 2025. For additional information, see Note 7, “Leases,” in the audited consolidated annual financial statements in the Annual Report.Legal Proceedings The Company was not subject to any material legal proceedings as of March 31, 2025, and the Company is not aware of any material legal proceedings that are currently pending or threatened. Other Contracts The Company is party to various contracts with contract research organizations and contract manufacturing organizations that generally provide for termination on notice, with the exact amounts in the event of termination to be based on the timing of the termination and the terms of the agreement. There were no contractual obligations arising from these arrangements as of March 31, 2025, and December 31, 2024. Indemnification Agreements In the ordinary course of business the Company may provide indemnification of varying scope and terms to vendors, lessors, business partners and other parties with respect to certain matters arising out of the relationship between such parties and the Company. In addition, the Company has entered into indemnification agreements with members of its board of directors and senior management that will require the Company, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as directors or officers. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is, in many cases, unlimited. To date however, the Company has not incurred any material costs as a result of such indemnifications nor experienced any losses related to them. As of March 31, 2025, the Company was not aware of any claims under indemnification arrangements and does not expect significant claims under indemnification arrangements and it has not accrued any liabilities related to such obligations.

8. License Agreements 

The Company has entered into