The IPO Buzz: Sionna Therapeutics (SION Proposed) Kicks Off February with $150 Million Filing

Cystic fibrosis-focused biotech Sionna Therapeutics (SION Proposed) unveiled its IPO terms early today on the first business day in February 2025. Sionna Therapeutics intends to offer 8.82 million shares – at a price range of $16.00 to $18.00  – to raise $150.0 million, according to an S-1/A filing early today – Monday, Feb. 3, 2025. Sionna Therapeutics would have a market cap of about $692.9 million, if priced at the $17.00 mid-point of the terms in the prospectus. The clinical biotech has two drug candidates – SION-719 and SION-451 – in ongoing Phase 1 trials, according to the prospectus. Goldman Sachs, TD Cowen, Stifel  and Guggenheim Securities are the joint book-runners. Sionna Therapeutics’ disclosure of its IPO’s terms came as U.S. stock futures pointed toward a sharp drop at the market’s opening today amid fear of the impact of tariffs on the U.S. economy. In the prospectus, Sionna Therapeutics said its two leading drug candidates are “highly potent NBD1 stabilizers,” noting that “NBD1” stands for nucleotide-binding domain 1. “We are 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 (“CFTR”) protein to deliver clinically meaningful benefit to CF patients. Our goal is to deliver differentiated medicines for people living with CF that can restore their CFTR function to as close to normal as possible by directly stabilizing CFTR’s nucleotide-binding domain 1 (“NBD1”). We believe stabilizing NBD1 is central to unlocking dramatic improvements in clinical outcomes and quality of life for CF patients,” Sionna Therapeutics said in the prospectus. Sionna Therapeutics, based in Waltham, Massachusetts, is not profitable. The biotech was founded in 2019. (For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on the IPOScoop.com  website.) Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board. To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message. Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.