The Life Sciences team advised Sionna Therapeutics on the closing of its upsized initial public offering of 12,176,467 shares of its common stock at a public offering price of $18.00 per share, which includes 1,588,234 shares issued upon the full exercise by the underwriters of their option to purchase additional shares of common stock in the offering. All of the shares of common stock were sold by Sionna. The gross proceeds to Sionna from the initial public offering were, including full exercise of the underwriters’ option to purchase additional shares, approximately $219.2 million, before deducting underwriting discounts and commissions and offering expenses. The shares commenced trading on the Nasdaq Global Market on February 7, 2025 under the ticker symbol “SION.”
Sionna Therapeutics is a clinical-stage biopharmaceutical company on a mission to revolutionize the current treatment paradigm for CF by developing novel medicines that normalize the function of the CFTR protein. Sionna’s goal is to deliver differentiated medicines for people living with CF that can restore their CFTR function to as close to normal as possible by directly stabilizing CFTR’s nucleotide-binding domain 1 (NBD1), which the company believes is central to potentially unlocking dramatic improvements in clinical outcomes and quality of life for people with CF. Leveraging more than a decade of the co-founders’ research on NBD1, the company is advancing a pipeline of small molecules engineered to correct the defects caused by the F508del genetic mutation, which resides in NBD1. Sionna is also developing a portfolio of complementary CFTR modulators that are designed to work synergistically with its NBD1 stabilizers to improve CFTR function.
The Goodwin team was led by Gaby Morales-Rivera, Bill Collins, Janet Hsueh, Lauren Zhang and Stefanie Hartford with invaluable assistance from Kevin Boyle, Julia Shaver, Steven Tjoe, Sukrti Thonse, Matthew Wetzel, Grace Wirth, Rahat Tariq, Cathy McCarty, Dan Karelitz, Erika Pey, Jacqueline Klosek, Karl Dragosz, Brian Mukherjee, Jennifer Fay, Christina Bitter, Tim Worden, Lucy Sharples, Curtis McCluskey, Ettore Santucci and Nathan Needle.
For more information on the deal, please read the press release.