🔴 Sionna Therapeutics is trading 12.05% down today after 46% workforce reduction and SION-719 discontinuation

Sionna Therapeutics is trading 12.05% down now at $7.26 after announcing a restructuring.

• The plan eliminates approximately 46% of the workforce and discontinues the SION-719 add-on program.
• Resources will concentrate on the SION-451 and SION-2222 combination for cystic fibrosis.
• Investors may focus on the narrowed pipeline and approximately $6.4 million in restructuring charges, although management expects the measures to extend cash runway through the second half of 2029.