Company: SION
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049251
Chunk: 342

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part II, Item 8
Chunk 342
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 loss, including significant expense categories (in thousands):Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Research and development expenses:External research and development expenses(1)$11,623 $8,070 $32,892 $21,274 Fees paid to licensors(2)—5,000—5,000Personnel-related expenses, excluding stock-based compensation2,7821,9317,6595,439Facility and information technology allocated expenses4864631,3901,387General and administrative expenses:Personnel-related expenses, excluding stock-based compensation2,9901,5817,6394,048General corporate and facility expenses(3)2,3178636,1622,834Other segment items(4)807,533(914)5,858Net loss$20,278 $25,441 $54,828 $45,840 (1)External research and development expenses consist primarily of costs paid to third-parties including contract research organizations ("CROs"), contract development and manufacturing organizations ("CDMOs"), consultants, advisors and lab-related vendors.(2)Fees paid to licensors consists primarily of upfront and annual licensing fees paid pursuant to the Company's license agreements.(3)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.(4)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.

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 September 30, 2025, and 2024, because including them would have had an anti-dilutive effect: Nine Months EndedSeptember 30,20252024Convertible Preferred Stock—27,149,206Options to purchase common stock5,713,7693,652,050Unvested restricted common stock—119,638Total5,713,76930,920,894

F-14

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