BioPharma Dive February 6, 2025
The biotech, which is testing several experimental cystic fibrosis drugs, is the fourth biotech company to go public in 2025.
Sionna Therapeutics on Thursday raised $191 million in an initial public offering that will fund its plan to challenge Vertex Pharmaceuticals’ dominant cystic fibrosis franchise.
The company sold nearly 10.6 million shares at $18 apiece, more than it projected in a filing earlier this week. It will start trading Friday on the Nasdaq stock exchange under the ticker symbol “SION.”
Sionna is pitching itself as a future threat to Vertex, which since 2012 has brought five cystic fibrosis drugs to market that collectively treat about 90% of people with the condition.
Vertex’s drugs generated about $10 billion in sales in...
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