Company: SION
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0002036042-25-000005
Chunk: 214

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 8
Chunk 214
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 financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.  

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ Deloitte & Touche LLP 

Boston, Massachusetts 

March 20, 2025 

We have served as the Company’s auditor since 2021. 

F-2

SIONNA THERAPEUTICS, INC. 

CONSOLIDATED BALANCE SHEETS 

(in thousands, except share and per share data) 

Year Ended December 31,20242023AssetsCurrent assets:Cash and cash equivalents$37,788 $38,521 Marketable securities, current109,750 — Prepaid expenses and other current assets3,455 686 Total current assets150,993 39,207 Property and equipment, net2,466 3,107 Marketable securities, noncurrent20,505 — Restricted cash962 962 Operating lease right-of-use asset7,832 8,625 Other assets2,994 44 Total assets$185,752 $51,945 Liabilities, convertible preferred stock and stockholders’ deficitCurrent liabilities:Accounts payable$1,186 $719 Accrued expenses8,162 6,590 Operating lease liability, current1,072 728 Total current liabilities10,420 8,037 Operating lease liability, noncurrent8,677 9,749 Total liabilities19,097 17,786 Commitments and contingencies (Note 8)Series Seed convertible preferred stock, $0.001 par value, 3,963,963 shares authorized, issued and outstanding as of December 31, 2024 and 2023; liquidation value of $13,200 as of December 31, 2024 and 202313,014 13,014 Series A convertible preferred stock, $0.001 par value, 5,704,161 shares authorized, issued and outstanding as