Sionna hits record low after experimental drug misses mid-stage trial goal
SION•Shares plunge after mid-stage failure
Shares of biotech firm Sionna Therapeutics SION.O plunged 91% to $4.23, hitting a record low.
The stock was on track for its biggest one-day percentage drop on record, and was down about 90% year to date including session moves.
Other program data and disease background
Sionna said SION-451 dual combinations met safety, tolerability and drug exposure goals in healthy volunteers, and the company is reviewing next steps.
Cystic fibrosis is an inherited disease that causes thick, sticky mucus to build up in the lungs and other organs.
Experimental cystic fibrosis drug misses study goal
The company said its experimental cystic fibrosis drug SION-719 failed to improve sweat chloride levels, a key measure of CFTR protein function, in a mid-stage study.
Sionna said SION-719 will not advance as an add-on treatment to Vertex's standard therapy Trikafta after missing the study's main activity goal.
The trial showed a placebo-adjusted sweat chloride change of -1.0 mmol/L, with potential confounding factors under review.
