MedCity News February 9, 2025
Sionna Therapeutics found strong investor interest in its cystic fibrosis drugs, which could rival blockbuster Vertex Pharmaceuticals product Trikafta. The biotech has three internally developed programs that hit a target unaddressed by any currently available CF therapies.
Vertex Pharmaceuticals dominates the market for cystic fibrosis drugs, but Sionna Therapeutics contends the pharma company’s products still have efficacy and safety limitations. Sionna has mapped out a clinical trial strategy that could validate its different approach to the chronic respiratory disease. Now the biotech can execute those plans with $191 million from an upsized IPO.
Sionna had planned to offer more than 8.8 million shares in the range of $16 and $18 each, which would have raised nearly $150 million at the...
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