Sionna Therapeutics Inc. has opened on Nasdaq in the year’s fourth IPO, this one priced at the upper end of its original per-share range at $18. The cystic fibrosis therapy developer is looking for gross proceeds of about $191 million by offering 10.58 million shares of common stock. On Feb. 7, shares (NASDAQ:SION) closed the day 39% upward at $25.
Sionna Therapeutics Inc.’s approach with small molecules in cystic fibrosis (CF) yielded the Boston-based firm an upsized and oversubscribed $182 million series C financing. The company is working on drugs that could fully restore the function of the CF transmembrane conductance regulator protein by stabilizing the first nucleotide-binding domain (NBD1). Four compounds are expected to enter the clinic this year – three NBD1 stabilizers and one ICL4 modulator.
ΔF508-CFTR is the most common CFTR mutation in cystic fibrosis (CF), which leads to destabilization of CFTR’s first nucleotide-binding domain (NBD1), contributing centrally to defective ΔF508-CFTR folding, trafficking and function.
ΔF508 is the most prevalent mutation detected in patients with cystic fibrosis (CF), and it causes a loss of F508 within CFTR’s first nucleotide binding domain (NBD1). Researchers from Sionna Therapeutics Inc. recently reported the discovery and preclinical evaluation of novel small-molecule CFTR NBD1 stabilizers and CFTR assembly correctors as potential new agents for the treatment of CF.
Sionna Therapeutics Inc. has received FDA clearance of its IND application for SION-638, a small molecule designed to target the first nucleotide-binding domain (NBD1) of the cystic fibrosis transmembrane conductance regulator (CFTR) protein. A phase I study is now dosing healthy volunteers.
