Company: SION
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0002036042-25-000047
Chunk: 314

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 314
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 June 30, 2025: Number ofCommonStockOptionsWeighted-AverageExercise PriceWeighted-AverageRemainingContractual TermAggregateIntrinsic Value(in years)(in thousands)Outstanding as of December 31, 20243,700,335$5.87 8.3$16,522 Granted2,305,76017.40 Exercised(7,944)0.76 Cancelled or forfeited(24,000)10.16 Outstanding as of June 30, 20255,974,151$10.31 8.5$43,341 Exercisable as of June 30, 20252,097,556$6.39 7.4$23,089 The aggregate intrinsic value of stock options is calculated as the difference between the exercise price of the stock options and the estimated fair value of the Company’s common stock for those stock options that had exercise prices lower than the fair value of the Company’s common stock. The weighted-average grant date fair value of options granted during the three and six months ended June 30, 2025, was $10.20 per share and $12.74 per share, respectively. The total intrinsic value of stock options exercised was $0.1 million for the three and six months ended June 30, 2025.

F-12

Stock-Based Compensation Expense During the three and six months ended June 30, 2025, and 2024, the Company recorded stock-based compensation in the accompanying condensed consolidated statements of operations and comprehensive loss as follows (in thousands): Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024Research and development expense$1,084 $396 $1,888 $675 General and administrative expense1,756 575 3,046 943 Total$2,840 $971 $4,934 $1,618 

As of June 30, 2025, there was $34.1 million of unrecognized stock-based compensation expense for common stock option awards that are expected to be recognized over a weighted average period of 2.9 years. The stock-based compensation expense for restricted common stock awards was de minimis and fully recognized as of June 30, 2025, when the final vesting conditions were met. 

10. Segment Information 

The following table presents segment net loss, including significant expense categories (in