Company: SION
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0002036042-25-000047
Chunk: 306

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 306
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 liabilities:Prepaid expenses and other current assets(720)(1,470)Accounts payable(272)1,145 Accrued expenses(2,201)(3,488)Operating lease liabilities(1,056)(855)Other assets— 29 Net cash used in operating activities(34,441)(23,320)Cash flows from investing activities:Purchases of property and equipment(86)— Purchases of marketable securities(228,011)(152,548)Maturities of marketable securities63,658 — Net cash used in investing activities(164,439)(152,548)Cash flows from financing activities:Proceeds from initial public offering, net of underwriter discounts, commissions and offering costs paid during the period202,071 — Proceeds from issuance of Series C convertible preferred stock, net of issuance costs— 181,328 Exercise of common stock options6 43 Net cash provided by financing activities202,077 181,371 Net increase in cash, cash equivalents and restricted cash3,197 5,503 Cash, cash equivalents and restricted cash at beginning of period38,750 39,483 Cash, cash equivalents and restricted cash at end of period$41,947 $44,986 Supplemental disclosure of non-cash investing and financing activities:Conversion of convertible preferred stock into common stock upon closing of initial public offering$330,368 $— Offering costs transferred to additional paid in capital 4,265—Reconciliation of cash, cash equivalents and restricted cash:Cash and cash equivalents$40,985 $44,024 Restricted cash962 962 Total cash, cash equivalents, and restricted cash$41,947 $44,986 The accompanying notes are an integral part of these condensed consolidated financial statements. 

F-6

SIONNA THERAPEUTICS, INC. 

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 

(Unaudited)

1. Nature of the Business 

Organization Sionna Therapeutics, Inc. (the “Company”), formerly known as Sling Therapeutics, Inc., was incorporated in Delaware in August 2019 and is headquartered in Waltham, Massachusetts. The Company is a clinical-stage biopharmaceutical company on a mission to revolutionize the current treatment paradigm for cystic fibrosis (“CF”) patients by developing novel medicines that normalize the function of the cystic fibrosis transmembrane conductance regulator