Sionna Loss Widens as Clinical Spending Rises
The company ended June with $268.3 million in cash and securities, which it said should fund operations into 2028.
Sionna Therapeutics (SION), a cystic-fibrosis drug developer, reported a wider second-quarter net loss as clinical-pipeline and personnel costs lifted spending.
The loss widened 65% to $29.9 million from $18.1 million a year earlier. The loss was $0.66 a share, compared with $0.41 a share in the year-earlier quarter.
Research and development expense rose 42% to $21.9 million, driven mainly by clinical-pipeline development and personnel-related costs. General and administrative expense increased 63% to $10.6 million, primarily because of higher personnel costs.
The increases pushed total operating expenses to $32.5 million from $21.9 million and widened the operating loss by the same amount. Lower interest income added pressure, with total other income declining to $2.6 million from $3.8 million.
The spending increase extended through the first half. Research and development expense rose to $40.8 million from $29.1 million, while the six-month net loss widened to $56.7 million from $34.6 million.
Sionna completed enrollment in April for the Phase 2a PreciSION CF trial of SION-719 and expects topline data in summer 2026. Topline data from a Phase 1 trial of SION-451 combinations are also expected this summer.
Cash, cash equivalents and marketable securities declined $42 million during the first half, or about 14%. Working capital fell to $205.3 million from $229.7 million, while stockholders’ equity decreased to $265.8 million from $306.8 million.
The company’s cash runway extends beyond both expected summer clinical readouts.