Company: SION
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0002036042-25-000016
Chunk: 218

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 218
---
,9431,095Other segment items(3)(494)(318)Net loss$16,482 $11,847 (1)External research and development expenses consist primarily of costs paid to third-parties including CROs, CDMOs, consultants, advisors and lab-related vendors.(2)General corporate and facility expenses consists primarily of professional services fees for legal, finance, human resources, in addition to information technology expenses and rent expense, net of sublease income.(3)Other segment items consists primarily of interest income, partially offset by non-cash expenses, such as stock-based compensation and depreciation, and amortization of discounts and premiums on marketable securities.

F-12

Table of Contents

11. Net Loss Per Share 

The Company excluded the following shares from the computation of diluted net loss per share attributable to common stockholders as of March 31, 2025, and 2024, because including them would have had an anti-dilutive effect: Three Months EndedMarch 31,20252024Convertible Preferred Stock—27,149,206Options to purchase common stock5,649,9233,466,466Unvested restricted common stock32,277210,966Total5,682,20030,826,638

F-13

Table of Contents

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis of our financial condition and results of operations should be read together with our condensed consolidated financial statements and related notes appearing elsewhere in this Quarterly Report and our Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the Securities and Exchange Commission (“SEC”) on March 20, 2025 (the “Annual Report”). 

This discussion and analysis as well as other parts of this Quarterly Report contain forward-looking statements that involve risks and uncertainties, including but not limited to, information with respect to our plans and strategy for our business. As a result of many factors, including those set forth in the section titled “Risk Factors,” our actual results could differ materially from the results described in or implied by the forward-looking statements. You should carefully read, consider and evaluate the section titled “Risk Factors” to gain an understanding of the factors that could cause actual results to differ materially from our forward-looking statements. Please also see the section titled “Cautionary Note Regarding Forward-Looking Statements” included elsewhere in this Quarterly Report. Our historical results are not necessarily indicative of the