Sionna Therapeutics has multiple drug candidates in the clinic and an ambition to improve cystic fibrosis treatment beyond what Vertex Therapeutics has achieved with its blockbuster portfolio of cystic fibrosis transmembrane conductance regulator (CFTR) modulators. Both the start-up and its investors showed that they remain undaunted by Vertex’s dominance in the CF market, with a successful initial public offering that grossed $191m for Sionna on 6 February.
Key Takeaways
- Sionna grossed $191m in its IPO to fund development of NMD1 stabilizers and CFTR modulators for combination therapies in cystic fibrosis, taking on Vertex’s dominant position in CF.
- The company has multiple clinical-stage drug candidates and will advance combination regimens into Phase II studies with its IPO proceeds
The Boston-based company sold 10.59 million shares at $18 each, at the top of a proposed price range of $16 to $18, and Sionna closed 38.9% above its IPO price at $25 on 7 February, its first day of trading. The number of shares in the offering also was upsized from the 8
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