Company: SION
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049251
Chunk: 351

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part II, Item 8
Chunk 351
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.6 million for the three months ended September 30, 2024. The decrease in research and development expenses was primarily due to:

•direct research and development expenses increased by $3.1 million primarily due to an increase in clinical programs and combination development activities; and

•unallocated research and development expenses decreased by $11.6 million primarily due to IPR&D acquisition costs incurred in connection with our license agreement with AbbVie of $13.6 million in the third quarter of 2024, partially offset by a $1.5 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. 

20

General and Administrative Expenses

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

Three Months Ended September 30,Change20252024Personnel-related (including stock-based compensation)$5,192 $2,197 $2,995 Professional services & fees2,049 817 1,232 Facility and depreciation520 388 132 Total general and administrative expenses$7,761 $3,402 $4,359 

General and administrative expenses increased by $4.4 million to $7.8 million for the three months ended September 30, 2025, from $3.4 million for the three months ended September 30, 2024. The increase in general and administrative expenses was primarily due to:

•$3.0 million increase in personnel-related expenses including stock-based compensation, driven by an increase in the size of our workforce; and

•$1.2 million increase in fees related to the increased use of consultants and professional service organizations.

Interest Income

Interest income increased by $1.1 million to $3.5 million for the three months ended September 30, 2025, from $2.4 million for the three months ended September 30, 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 $0.1 million and $0.2 million for the three months ended September 30, 2025, and 2024, respectively, due to sublease income in connection with our subleasing agreement.

Comparison of the Nine Months Ended September 30, 2025 and 2024

The following table summarizes our results of operations (in thousands):

Nine Months