Company: SION
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0002036042-25-000047
Chunk: 336

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part II, Item 8
Chunk 336
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 and six months ended June 30, 2025, or 2024.

F-9

4. Fair Value Measurements 

The following tables present information about the Company’s financial instruments that are measured at fair value on a recurring basis and indicates the fair value hierarchy of the inputs the Company utilized to determine such fair value (in thousands): June 30, 2025Total Level 1 Level 2 Level 3 AssetsCash equivalents:Money market funds$40,485 $40,485 $— $— Marketable securities:U.S. Treasury securities183,705 183,705 — — Commercial paper61,638 — 61,638 — Government agency securities37,870 — 37,870 — Corporate debt13,072 — 13,072 — Total financial assets$336,770 $224,190 $112,580 $— December 31, 2024Total Level 1 Level 2 Level 3 AssetsCash equivalents:Money market funds$37,288 $37,288 $— $— Marketable securities:   U.S. Treasury securities70,679 70,679 — — Government agency securities36,415 — 36,415 — Corporate debt17,227 — 17,227 — Commercial paper5,934 — 5,934 — Total financial assets$167,543 $107,967 $59,576 $— During the three and six months ended June 30, 2025, there were no transfers or reclassifications between fair value measurement levels of assets or liabilities. The carrying values of prepaid expenses and other current assets, accounts payable and accrued expenses approximate their fair values due to the short-term nature of these assets and liabilities.

5. Property and Equipment, net 

Property and equipment, net consisted of the following (in thousands): June 30,2025December 31,2024Leasehold improvements$1,854 $1,854 Laboratory equipment1,547 1,461 Furniture & fixtures722 722 Total property and equipment4,123 4,037 Less: accumulated depreciation(1,877)(1,571)Property and equipment, net$2,246 $2,466 Depreciation expense for the three months ended June 30, 2025 and 202