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| RA CAPITAL MANAGEMENT, L.P.Director | Sell | 3,415,011 | $21.6M | Thu, Sep 17 |
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Sionna Therapeutics, Inc. (SION) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it.
Sionna Therapeutics, Inc. (NASDAQ:SION) announced on September 14 that its board approved an approximately 46% workforce reduction as it concentrates development on SION-451 plus SION-2222 for cystic fibrosis. Sionna Therapeutics, Inc.
Sionna set to reduce its workforce by 46% after SION-719 fails a key CF study, shifting focus to SION-451 + SION-2222.
A Lutathera copycat has become the first “radioligand equivalent” cleared by regulators. Elsewhere, Novo dropped the “Nordisk” from its name and a novel RNAi drug showed early promise.
Post hoc analyses of SION-719 PreciSION CF subset showed a mean placebo-adjusted sweat chloride reduction of up to -8.6 mmol/L consistent with NBD1 biological activity
Sionna Therapeutics (SION) is back in focus after reporting topline results for its cystic fibrosis programs, including a Phase 2a proof of concept miss for SION-719 and supportive Phase 1 data for SION-451 combinations.
Sionna Therapeutics recently reported that its lead cystic fibrosis candidate SION-719 failed to meet the key activity endpoint in a Phase 2a proof-of-concept trial as an add-on to Trikafta, prompting the company to stop further development in this setting.
Sionna Therapeutics stock has fallen sharply in recent sessions, yet the valuation checks suggest it is not a clear bargain even after the sell off.
The biotech said it will not advance SION-719 as an add-on therapy after the drug missed its key endpoint in a Phase 2a study
Sionna Therapeutics (NasdaqGM:SION) reported that its lead cystic fibrosis drug candidate failed a Phase 2 trial. The company has halted further development of the candidate and is redirecting resources to other pipeline programs.