Sionna Therapeutics Closes $219.2 Million Upsized IPO as Shares Hit Nasdaq

Sionna Therapeutics, a clinical-stage biopharmaceutical company aiming to improve treatment for cystic fibrosis (CF), successfully closed its upsized initial public offering (IPO), raising approximately $219.2 million. The offering included the issuance of 12,176,467 shares at $18 per share, with an additional 1,588,234 shares sold following the full exercise of the underwriters' option to purchase more shares. The shares began trading on the Nasdaq Global Market under the ticker 'SION'. This IPO marks a significant milestone for Sionna, which focuses on developing novel medicines to normalize the CFTR protein's function and improve clinical outcomes for CF patients. The company's pipeline targets the NBD1 defects caused by the F508del genetic mutation. Goodwin Procter LLP advised Sionna on this transaction, with a legal team led by several of the firm's key partners and associates.