Company: SION
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049251
Chunk: 338

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part II, Item 8
Chunk 338
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 — Corporate debt13,705 — 13,705 — Total financial assets$324,500 $232,943 $91,557 $— December 31, 2024Total Level 1 Level 2 Level 3 AssetsCash equivalents:Money market funds$37,288 $37,288 $— $— Marketable securities:   U.S. Treasury securities70,679 70,679 — — Government agency securities36,415 — 36,415 — Corporate debt17,227 — 17,227 — Commercial paper5,934 — 5,934 — Total financial assets$167,543 $107,967 $59,576 $— During the three and nine months ended September 30, 2025, there were no transfers or reclassifications between fair value measurement levels of assets or liabilities. The carrying values of prepaid expenses and other current assets, accounts payable and accrued expenses approximate their fair values due to the short-term nature of these assets and liabilities.

5. Property and Equipment, net 

Property and equipment, net consisted of the following (in thousands): September 30,2025December 31,2024Leasehold improvements$1,914 $1,854 Laboratory equipment1,574 1,461 Furniture & fixtures626 722 Total property and equipment4,114 4,037 Less: accumulated depreciation(1,970)(1,571)Property and equipment, net$2,144 $2,466 

F-10

Depreciation expense for the three months ended September 30, 2025 and 2024 was $0.1 million and $0.2 million, respectively. Depreciation expense was $0.5 million for the nine months ended September 30, 2025 and 2024.

6. Accrued Expenses 

Accrued expenses consisted of the following (in thousands): September 30,2025December 31,2024Accrued research and development$3,109 $3,961 Accrued compensation and benefits3,066 2,972 Accrued professional fees693 737 Accrued other61 — Accrued offering costs— 492 Total accrued expenses$6,929 $8,162 

7. Commitments and Conting