Quarterly ResultMay 12, 2026, 07:22 AM
Sionna Therapeutics Q1 Net Loss $26.8M; $250M ATM Equity Program
AI Summary
Sionna Therapeutics reported a net loss of $26.8 million for Q1 2026, an increase from $16.5 million in Q1 2025, driven by higher research and development and general and administrative expenses. The company established an at-the-market equity offering program to sell up to $250.0 million in common stock, though no shares have been sold yet. Despite the increased loss, the company believes its $289.9 million in cash, cash equivalents, and marketable securities will fund operations for over twelve months.
Key Highlights
- Established an at-the-market equity offering program for up to $250.0 million.
- Net loss for Q1 2026 increased to $26.8 million from $16.5 million in Q1 2025.
- Research and development expenses rose to $19.0 million from $13.7 million year-over-year.
- General and administrative expenses increased to $10.6 million from $6.0 million.
- Net loss per share was $(0.60) in Q1 2026, compared to $(0.62) in Q1 2025.
- Cash, cash equivalents, and marketable securities totaled $289.9 million as of March 31, 2026.
- Net cash used in operating activities was $21.8 million for Q1 2026.