Sionna Therapeutics (SION)


Market Price (8/3/2026): $47.61 | Market Cap: $2.1 BilSector: Health Care | Industry: Biotechnology

Sionna Therapeutics (SION)


Market Price (8/3/2026): $47.61
Market Cap: $2.1 Bil
Sector: Health Care
Industry: Biotechnology

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Megatrend and thematic drivers
Megatrends include Precision Medicine. Themes include Targeted Therapies, and Biopharmaceutical R&D.

Trading close to highs
Dist 52W High is -4.6%, Dist 3Y High is -4.6%

Meaningful short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 11.51, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12%

Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -99 Mil

Stock price has recently run up significantly
12M Rtn12 month market price return is 179%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -8.4%

Key risks
SION key risks include [1] uncertainty surrounding the clinical and regulatory success of its NBD1 stabilizer and CFTR modulator drug candidates and [2] intense competition from entrenched market leader Vertex Pharmaceuticals and its dominant therapy, Show more.

0 Megatrend and thematic drivers
Megatrends include Precision Medicine. Themes include Targeted Therapies, and Biopharmaceutical R&D.
1 Trading close to highs
Dist 52W High is -4.6%, Dist 3Y High is -4.6%
2 Meaningful short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 11.51, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12%
3 Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -99 Mil
5 Stock price has recently run up significantly
12M Rtn12 month market price return is 179%
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -8.4%
7 Key risks
SION key risks include [1] uncertainty surrounding the clinical and regulatory success of its NBD1 stabilizer and CFTR modulator drug candidates and [2] intense competition from entrenched market leader Vertex Pharmaceuticals and its dominant therapy, Show more.

SION in ETFs

Weight = SION's share of each fund

ITOT0.00%
IWM0.03%
XBI0.30%
IBB0.10%
IWO0.06%
VTWO0.02%
SCHA0.01%
VHT0.01%
+3 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 8/1/2026

Sionna Therapeutics (SION) stock has gained about 20% since 4/30/2026 because of the following key factors:

1. Positive Clinical Trial Progress and Anticipation of Key Data Readouts.

Sionna Therapeutics completed enrollment in its Phase 2a PreciSION CF trial for SION-719 by April 27, 2026, a significant milestone for the company's lead cystic fibrosis (CF) drug candidate. This trial is evaluating SION-719 as an add-on therapy to existing standard of care treatments for CF patients. Topline data from this trial, as well as from a Phase 1 dual combination study with SION-451, are both anticipated in the summer of 2026 (fiscal Q2/Q3 2026), generating strong investor interest and optimism regarding potential advancements in CF treatment.

2. Favorable Analyst Sentiment and Raised Price Targets.

The period saw multiple investment firms reiterate "Buy" or "Strong Buy" ratings and adjust price targets upwards for Sionna Therapeutics. Following the company's fiscal Q1 2026 earnings report in May 2026, Guggenheim reiterated a Buy rating with a $50.00 price target, while Raymond James and Wedbush both reiterated Strong Buy and Outperform ratings respectively, with $53.00 price targets. Jones Trading further increased its price target to $63.00. As of late July 2026, the consensus among analysts indicated a "Moderate Buy" or "Strong Buy" rating with an average 12-month price target ranging from approximately $51.60 to $54.29, suggesting further potential upside.

Show more
Updated on 8/1/2026

Sionna Therapeutics (SION) stock has gained about 20% since 4/30/2026 because of the following key factors:

1. Positive Clinical Trial Progress and Anticipation of Key Data Readouts.

Sionna Therapeutics completed enrollment in its Phase 2a PreciSION CF trial for SION-719 by April 27, 2026, a significant milestone for the company's lead cystic fibrosis (CF) drug candidate. This trial is evaluating SION-719 as an add-on therapy to existing standard of care treatments for CF patients. Topline data from this trial, as well as from a Phase 1 dual combination study with SION-451, are both anticipated in the summer of 2026 (fiscal Q2/Q3 2026), generating strong investor interest and optimism regarding potential advancements in CF treatment.

2. Favorable Analyst Sentiment and Raised Price Targets.

The period saw multiple investment firms reiterate "Buy" or "Strong Buy" ratings and adjust price targets upwards for Sionna Therapeutics. Following the company's fiscal Q1 2026 earnings report in May 2026, Guggenheim reiterated a Buy rating with a $50.00 price target, while Raymond James and Wedbush both reiterated Strong Buy and Outperform ratings respectively, with $53.00 price targets. Jones Trading further increased its price target to $63.00. As of late July 2026, the consensus among analysts indicated a "Moderate Buy" or "Strong Buy" rating with an average 12-month price target ranging from approximately $51.60 to $54.29, suggesting further potential upside.

3. Strong Financial Position and Extended Cash Runway.

Sionna Therapeutics demonstrated a robust financial standing, which reassured investors about its operational longevity without immediate dilution concerns. The company reported ending fiscal Q1 2026 (ended March 31, 2026) with $289.9 million in cash. Management guided that this cash position provides a runway into 2028. The strong balance sheet is further highlighted by a current ratio of 20.61 and a minimal debt-to-equity ratio of just 0.03. This strong financial health underpins the company's ability to fund its ongoing clinical programs.

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Stock Movement Drivers

Fundamental Drivers

The 21.8% change in SION stock from 4/30/2026 to 8/2/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)43020268022026Change
Stock Price ($)38.7047.1321.8%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple0.0%
Shares Outstanding (Mil)4545-0.5%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 8/2/2026
ReturnCorrelation
SION21.8% 
Market (SPY)3.9%28.8%
Sector (XLV)11.3%11.9%

Fundamental Drivers

The 11.5% change in SION stock from 1/31/2026 to 8/2/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)13120268022026Change
Stock Price ($)42.2647.1311.5%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple0.0%
Shares Outstanding (Mil)4445-1.5%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 8/2/2026
ReturnCorrelation
SION11.5% 
Market (SPY)8.3%32.2%
Sector (XLV)5.5%19.3%

Fundamental Drivers

The 181.2% change in SION stock from 7/31/2025 to 8/2/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)73120258022026Change
Stock Price ($)16.7647.13181.2%
Change Contribution By: 
Total Revenues ($ Mil)00.0%
P/S Multiple0.0%
Shares Outstanding (Mil)2845-38.1%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 8/2/2026
ReturnCorrelation
SION181.2% 
Market (SPY)19.2%14.6%
Sector (XLV)26.2%15.9%

Fundamental Drivers

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Market Drivers

7/31/2023 to 8/2/2026
ReturnCorrelation
SION  
Market (SPY)68.9%19.3%
Sector (XLV)26.9%22.7%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
SION Return----65%14%87%
Peers Return-17%-9%34%-28%10%9%-12%
S&P 500 Return27%-19%24%23%16%9%98%

Monthly Win Rates [3]
SION Win Rate----64%71% 
Peers Win Rate42%55%52%47%62%51% 
S&P 500 Win Rate75%42%67%75%67%43% 

Max Drawdowns [4]
SION Max Drawdown------27% 
Peers Max Drawdown-48%-48%-37%-50%-45%-25% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: VRTX, ARCT, FDMT, ABBV, CRSP.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/31/2026 (YTD)

How Low Can It Go

EventSIONS&P 500
2025 US Tariff Shock
  % Loss-61.7%-18.8%
  % Gain to Breakeven160.8%23.1%
  Time to Breakeven83 days79 days

Compare to VRTX, ARCT, FDMT, ABBV, CRSP

In The Past

Sionna Therapeutics's stock fell -61.7% during the 2025 US Tariff Shock. Such a loss loss requires a 160.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventSIONS&P 500
2025 US Tariff Shock
  % Loss-61.7%-18.8%
  % Gain to Breakeven160.8%23.1%
  Time to Breakeven83 days79 days

Compare to VRTX, ARCT, FDMT, ABBV, CRSP

In The Past

Sionna Therapeutics's stock fell -61.7% during the 2025 US Tariff Shock. Such a loss loss requires a 160.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Sionna Therapeutics (SION)

Sionna Therapeutics (SION) is a clinical-stage biopharmaceutical company dedicated to transforming the treatment of cystic fibrosis (CF). Its core mission is to develop novel medicines that restore the function of the cystic fibrosis transmembrane conductance regulator (CFTR) protein to near-normal levels. The company primarily targets the F508del genetic mutation, which is present in approximately 90% of CF patients, aiming to unlock dramatic improvements in clinical outcomes and quality of life within the multi-billion dollar CF market.

Sionna's innovative approach centers on directly stabilizing the CFTR protein's nucleotide-binding domain 1 (NBD1), a region long considered "undruggable" by existing CF therapies. This mechanism is crucial for correcting the defects caused by the F508del mutation. The company is advancing two lead NBD1 stabilizers, SION-719 and SION-451, both currently in Phase 1 clinical trials. Interim data shows these compounds have been generally well-tolerated and have successfully achieved target therapeutic concentrations.

To maximize treatment efficacy, Sionna is also building a comprehensive pipeline of complementary CFTR modulators designed to work synergistically with its NBD1 stabilizers. This includes galicaftor (SION-2222), a clinical-stage compound in-licensed from AbbVie that has completed Phase 2 trials, and SION-109, which recently completed Phase 1. The company plans to evaluate its NBD1 stabilizers in combination with the current standard of care, Trikafta, and develop proprietary dual combinations, positioning itself to deliver highly differentiated medicines to CF patients globally.

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1. The Vertex Pharmaceuticals of tomorrow, aiming to normalize CFTR function for cystic fibrosis patients.

2. Like Vertex Pharmaceuticals, but focused on developing next-generation cystic fibrosis treatments by tackling a previously "undruggable" target.

3. A company striving to be the next Vertex Pharmaceuticals in cystic fibrosis, through a novel, more foundational approach to treatment.

AI Analysis | Feedback

  • SION-719: A clinical-stage small molecule NBD1 stabilizer being developed to treat cystic fibrosis.
  • SION-451: A clinical-stage small molecule NBD1 stabilizer being developed to treat cystic fibrosis.
  • Galicaftor (SION-2222): An in-licensed clinical-stage CFTR modulator targeting TMD1, intended for combination therapies in cystic fibrosis.
  • SION-109: A clinical-stage CFTR modulator targeting the ICL4 region, intended for combination therapies in cystic fibrosis.

AI Analysis | Feedback

Sionna Therapeutics (SION) is a clinical-stage biopharmaceutical company focused on developing novel medicines for cystic fibrosis. As of the provided description, the company is in the research and development phase, conducting Phase 1 clinical trials for its drug candidates SION-719 and SION-451. The company does not currently have any approved products on the market and, therefore, does not have major customers or generate revenue from product sales.

Upon successful development and regulatory approval, Sionna Therapeutics' products would ultimately be prescribed to individuals living with cystic fibrosis.

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  • AbbVie Global Enterprises Ltd. (ABBV)

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Here is the management team of Sionna Therapeutics:

Mike Cloonan, President and Chief Executive Officer

Mike Cloonan is a respected biotech leader with over 20 years of biopharma experience. He most recently served as Chief Operating Officer at Sage Therapeutics, where he led all business functions and G&A functions. Prior to Sage, he spent 14 years at Biogen in various business and commercial roles, culminating as Senior Vice President, U.S. Commercial. He joined Sionna in May 2021.

Elena Ridloff, C.F.A., Chief Financial Officer & Head of Corporate Development

Elena Ridloff has over 20 years of experience in finance and the life sciences industry. She most recently served as Executive Vice President and Chief Financial Officer for Acadia Pharmaceuticals, where she was responsible for leading corporate finance, accounting, investor relations, corporate affairs, and government affairs functions. During her tenure at Acadia, she played a critical role in the organization's commercial, business development, and pipeline growth, including successfully raising $600 million in capital. Prior to Acadia, she was Vice President, Investor Relations at Alexion Pharmaceuticals. Elena also served as Chief Executive Officer of BIOVISIO, an independent consulting firm, and was a Managing Director at Maverick Capital, a hedge fund, responsible for investments in the biotechnology, pharmaceutical, and life science sectors. She serves on the boards of directors of Kymera Therapeutics, Inc. and previously Kronos Bio, Inc.

Charlotte McKee, M.D., Chief Medical Officer

Dr. Charlotte McKee serves as the Chief Medical Officer of Sionna Therapeutics.

Caroline Stark Beer, Chief Business Officer

Caroline Stark Beer brings more than two decades of experience in the life sciences industry. She most recently served as Chief Business Officer at Jnana Therapeutics, where she led business and corporate development, alliance management, legal, new product planning, and communications. She played a key role in guiding Jnana Therapeutics through its acquisition by Otsuka Pharmaceutical.

Greg Hurlbut, Ph.D., Co-Founder and Senior Vice President, Discovery Research

Dr. Greg Hurlbut is a co-founder of Sionna Therapeutics. Prior to co-founding Sionna, he spent over a decade extensively researching the NBD1 target as a research leader at Sanofi SA.

AI Analysis | Feedback

The key risks to Sionna Therapeutics' business are:

  1. Clinical Development and Regulatory Approval Risk: Sionna Therapeutics' ability to achieve its mission of revolutionizing cystic fibrosis treatment is highly dependent on the successful development, regulatory approval, and commercialization of its novel NBD1 stabilizers and complementary CFTR modulators. Its lead NBD1 stabilizers, SION-719 and SION-451, are currently in Phase 1 trials with healthy subjects, an early stage in drug development. Historically, NBD1 has been considered "undruggable," which highlights the inherent difficulties and high risk of failure associated with developing therapies targeting this domain. Significant delays, unexpected adverse events, or a lack of demonstrated efficacy in later-stage clinical trials (Phase 2 and 3) would severely impact the company's prospects, especially given the high attrition rate of drug candidates in clinical development.
  2. Market Competition and Commercialization Risk: Sionna Therapeutics operates in a competitive market for cystic fibrosis treatments, which already includes established and highly effective CFTR modulators such as Trikafta, generating substantial global revenue. The company aims to deliver "differentiated medicines" and restore CFTR function to "as close to normal as possible." However, successfully penetrating this market and gaining significant adoption will require demonstrating clinically meaningful benefits that are superior to, or significantly differentiate their products from, existing standard-of-care treatments. Failure to effectively compete with incumbent therapies or to achieve sufficient market share would hinder the company's revenue generation and growth, even if its products receive regulatory approval.

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The addressable market for Sionna Therapeutics' main products, which are CFTR modulators, was approximately $10 billion worldwide in 2023 and is projected to grow to $15 billion worldwide by 2029.

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Sionna Therapeutics (SION), a clinical-stage biopharmaceutical company focused on cystic fibrosis (CF), is expected to drive future revenue growth over the next 2-3 years through several key advancements and strategic initiatives:

  1. Advancement of Lead NBD1 Stabilizers through Clinical Development: Successful progression of its novel nucleotide-binding domain 1 (NBD1) stabilizers, SION-719 and SION-451, from ongoing Phase 1 trials into later-stage clinical development (e.g., Phase 2 or proof-of-concept trials) will be a critical driver. The successful validation of these "undruggable" NBD1 targets, which have the potential to normalize CFTR protein function, would significantly enhance the company's valuation and attractiveness for potential partnerships, leading to milestone payments that contribute to revenue.
  2. Development and Clinical Progression of Proprietary Combination Therapies: Sionna's strategy includes evaluating its NBD1 stabilizers in combination with the current standard of care, Trikafta, and determining optimal proprietary dual combinations. Positive clinical data from these combination approaches, particularly given the in-licensed galicaftor (SION-2222) has completed Phase 2, would solidify the company's competitive position. This would accelerate the potential path to market and expand the addressable patient population, laying the groundwork for substantial future revenue.
  3. Establishment of Strategic Partnerships and Licensing Agreements: As a clinical-stage entity, Sionna Therapeutics can generate revenue through strategic collaborations and out-licensing agreements. Securing partnerships for its innovative CFTR modulators, especially the NBD1 stabilizers or promising combination candidates, could lead to significant upfront payments and subsequent milestone payments as development progresses, directly contributing to revenue growth within the 2-3 year timeframe.
  4. Demonstration of Differentiated Efficacy and Safety Profile: While commercialization is anticipated beyond the 2-3 year horizon, demonstrating compelling clinical data within this period that showcases superior efficacy in restoring CFTR function (potentially normalizing it) and a favorable safety profile compared to existing treatments will be a crucial driver for future revenue. Such differentiation would establish a strong market advantage and lay the foundation for significant product revenue upon eventual approval.

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Share Issuance

  • Sionna Therapeutics completed an upsized Initial Public Offering (IPO) in February 2025, raising approximately $219.2 million in gross proceeds through the issuance of 12,176,467 shares of common stock at $18.00 per share.
  • In March 2026, Sionna Therapeutics registered up to $250 million of common stock for sale under an at-the-market (ATM) sales agreement.
  • The company's updated certificate of incorporation, effective prior to the IPO, authorizes the issuance of 500 million shares of common stock and 10 million shares of undesignated preferred stock.

Inbound Investments

  • In March 2024, Sionna Therapeutics announced a $182 million Series C financing round.
  • TPG GP A, LLC, a former 10% owner, invested $20,250,000 in February 2025 by purchasing 1,125,000 shares of Sionna Therapeutics' stock.

Capital Expenditures

  • Sionna Therapeutics invested $204,000 in capital expenditures during the fourth quarter of 2025, representing a 134.5% increase from the prior quarter.
  • These capital expenditures were focused on funding long-term assets and infrastructure.

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
1Sionna Therapeutics Earnings Notes12/16/2025
Title
0ARTICLES

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

SIONVRTXARCTFDMTABBVCRSPMedian
NameSionna T.Vertex P.Arcturus.4D Molec.AbbVie CRISPR T. 
Mkt Price47.13477.105.7610.18250.9447.9947.56
Mkt Cap2.1121.20.20.7444.24.63.4
Rev LTM012,218428862,819165
Op Inc LTM-994,662-88-18020,844-646-94
FCF LTM-723,710-59-13019,980-426-65
FCF 3Y Avg-1,977-46-12219,085-301-46
CFO LTM-724,241-59-12921,224-400-65
CFO 3Y Avg-2,401-45-12020,104-289-45

Growth & Margins

SIONVRTXARCTFDMTABBVCRSPMedian
NameSionna T.Vertex P.Arcturus.4D Molec.AbbVie CRISPR T. 
Rev Chg LTM-10.1%-67.7%383,560.9%9.5%-97.1%9.5%
Rev Chg 3Y Avg-9.9%-36.5%128,095.9%3.6%-5.0%3.6%
Rev Chg Q-7.8%-97.6%21,664.3%12.4%-10.1%
QoQ Delta Rev Chg LTM-1.8%-37.0%3.6%2.7%-2.3%
Op Inc Chg LTM-28.4%1,214.0%-7.7%11.7%61.4%-36.3%2.0%
Op Inc Chg 3Y Avg-364.1%-77.9%-20.9%12.1%-16.1%-16.1%
Op Mgn LTM-38.2%-208.6%-203.5%33.2%-64,639.5%-203.5%
Op Mgn 3Y Avg-24.1%-127.6%-294,940.2%26.9%-22,035.2%-127.6%
QoQ Delta Op Mgn LTM-0.2%-95.2%-16.2%0.3%--8.0%
CFO/Rev LTM-34.7%-138.3%-146.7%33.8%-39,996.4%-138.3%
CFO/Rev 3Y Avg-21.5%-65.1%-222,283.0%34.7%-13,643.7%-65.1%
FCF/Rev LTM-30.4%-138.7%-146.8%31.8%-42,617.6%-138.7%
FCF/Rev 3Y Avg-17.7%-66.1%-227,659.6%33.0%-14,519.9%-66.1%

Valuation

SIONVRTXARCTFDMTABBVCRSPMedian
NameSionna T.Vertex P.Arcturus.4D Molec.AbbVie CRISPR T. 
Mkt Cap2.1121.20.20.7444.24.63.4
P/S-9.93.97.97.14,609.57.9
P/Op Inc-21.426.0-1.9-3.921.3-7.1-2.9
P/EBIT-21.423.9-2.1-3.950.0-7.1-3.0
P/E-24.727.9-2.1-4.3122.2-8.1-3.2
P/CFO-29.528.6-2.8-5.420.9-11.5-4.1
Total Yield-4.0%3.6%-48.1%-23.2%3.5%-12.3%-8.2%
Dividend Yield0.0%0.0%0.0%0.0%2.7%0.0%0.0%
FCF Yield 3Y Avg-1.6%-18.3%-32.6%5.5%-6.4%-6.4%
D/E0.00.00.10.00.20.20.1
Net D/E-0.1-0.0-1.1-0.50.1-0.4-0.2

Returns

SIONVRTXARCTFDMTABBVCRSPMedian
NameSionna T.Vertex P.Arcturus.4D Molec.AbbVie CRISPR T. 
1M Rtn7.1%-9.6%-20.9%-21.7%-3.2%-20.1%-14.9%
3M Rtn20.4%12.5%-33.3%12.0%22.3%-7.1%12.3%
6M Rtn11.5%1.5%-22.9%14.9%14.3%-3.9%6.5%
12M Rtn178.5%3.2%-53.2%58.6%32.5%-14.4%17.9%
3Y Rtn88.5%37.2%-82.4%-43.5%86.7%-6.5%15.3%
1M Excs Rtn13.1%-4.3%-16.5%-19.9%0.6%-13.8%-9.0%
3M Excs Rtn17.9%7.7%-37.1%10.9%15.7%-12.2%9.3%
6M Excs Rtn3.6%-7.2%-31.4%6.0%8.1%-17.5%-1.8%
12M Excs Rtn147.8%-16.0%-72.2%113.1%19.0%-34.5%1.5%
3Y Excs Rtn24.5%-28.4%-147.4%-107.4%32.1%-80.2%-54.3%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20232022
Single Segment00
Total00


Net Income by Segment
$ Mil202520242023
Single Segment-75-6247
Total-75-6247


Assets by Segment
$ Mil20232022
Single Segment5287
Total5287


Price Behavior

Price Behavior
Market Price$47.13 
Market Cap ($ Bil)2.1 
First Trading Date02/07/2025 
Distance from 52W High-4.6% 
   50 Days200 Days
DMA Price$41.06$29.20
DMA Trendupup
Distance from DMA14.8%61.4%
 3M1YR
Volatility66.5%77.0%
Downside Capture119.801.18
Upside Capture183.89119.44
Correlation (SPY)29.0%14.9%
SION Betas & Captures as of 7/31/2026

 1M2M3M6M1Y3Y
Beta1.110.891.401.520.890.50
Up Beta1.422.652.412.402.25-0.45
Down Beta-1.390.610.310.030.410.36
Up Capture254%84%206%199%131%33%
Bmk +ve Days11223567138427
Stock +ve Days12263974146192
Down Capture135%20%118%151%11%76%
Bmk -ve Days11212859114326
Stock -ve Days10172452105174

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with SION
SION166.6%76.8%1.59-
Sector ETF (XLV)22.8%15.9%1.1017.1%
Equity (SPY)18.8%12.9%1.0714.8%
Gold (GLD)23.6%28.1%0.74-1.1%
Commodities (DBC)30.2%19.7%1.22-17.2%
Real Estate (VNQ)13.7%13.9%0.695.9%
Bitcoin (BTCUSD)-46.8%43.0%-1.3410.6%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with SION
SION13.4%85.8%0.87-
Sector ETF (XLV)5.9%15.0%0.2222.7%
Equity (SPY)12.6%17.1%0.5619.3%
Gold (GLD)17.1%18.5%0.75-0.3%
Commodities (DBC)9.0%19.5%0.35-7.3%
Real Estate (VNQ)2.5%18.9%0.0316.5%
Bitcoin (BTCUSD)13.4%53.3%0.4313.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with SION
SION6.5%85.8%0.87-
Sector ETF (XLV)9.9%16.6%0.4822.7%
Equity (SPY)15.0%17.9%0.7119.3%
Gold (GLD)11.3%16.1%0.57-0.3%
Commodities (DBC)7.3%18.0%0.32-7.3%
Real Estate (VNQ)4.9%20.7%0.2016.5%
Bitcoin (BTCUSD)57.6%66.2%0.9813.1%

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Short Interest

Short Interest: As Of Date7152026
Short Interest: Shares Quantity5.3 Mil
Short Interest: % Change Since 6302026-4.8%
Average Daily Volume0.5 Mil
Days-to-Cover Short Interest11.5 days
Basic Shares Quantity44.9 Mil
Short % of Basic Shares11.7%

Earnings Returns History

Updated 6/15/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/12/2026-10.9%-14.6%-25.9%
3/2/2026-7.2%-1.7%0.3%
11/5/2025-1.6%2.3%13.0%
8/11/202513.4%17.8%38.7%
5/12/20254.7%9.0%48.2%
3/20/20250.0%-13.3%-20.2%
SUMMARY STATS   
# Positive334
# Negative332
Median Positive4.7%9.0%25.9%
Median Negative-7.2%-13.3%-23.1%
Max Positive13.4%17.8%48.2%
Max Negative-10.9%-14.6%-25.9%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/12/2026-10.9%-14.6%-25.9%
3/2/2026-7.2%-1.7%0.3%
11/5/2025-1.6%2.3%13.0%
8/11/202513.4%17.8%38.7%
5/12/20254.7%9.0%48.2%
3/20/20250.0%-13.3%-20.2%
SUMMARY STATS   
# Positive334
# Negative332
Median Positive4.7%9.0%25.9%
Median Negative-7.2%-13.3%-23.1%
Max Positive13.4%17.8%48.2%
Max Negative-10.9%-14.6%-25.9%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/12/202610-Q
12/31/202503/02/202610-K
09/30/202511/05/202510-Q
06/30/202508/11/202510-Q
03/31/202505/12/202510-Q
12/31/202403/20/202510-K
09/30/202402/07/2025424B4
Collapse to Preview
Report DateFiling DateFiling
03/31/202605/12/202610-Q
12/31/202503/02/202610-K
09/30/202511/05/202510-Q
06/30/202508/11/202510-Q
03/31/202505/12/202510-Q
12/31/202403/20/202510-K
09/30/202402/07/2025424B4

Recent Forward Guidance

Updated 7/27/2026

Latest: Q1 2026 Earnings Reported 5/12/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2028 Cash Runway 2,028    

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Insider Activity

Updated 7/9/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Thompson, Peter ASee footnotesSell709202644.8685,9183,854,281110,802,361Form
2Orbimed, Advisors LlcSee footnotesSell709202644.8685,9183,854,281110,802,361Form
3Fitzpatrick, JenniferChief Legal OfficerDirectSell707202643.6010,250  Form
4Thompson, Peter ASee footnotesSell702202645.50115,8445,270,902116,292,404Form
5Orbimed, Advisors LlcSee footnotesSell702202645.50115,8445,270,902116,292,404Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Thompson, Peter ASee footnotesSell709202644.8685,9183,854,281110,802,361Form
2Orbimed, Advisors LlcSee footnotesSell709202644.8685,9183,854,281110,802,361Form
3Fitzpatrick, JenniferChief Legal OfficerDirectSell707202643.6010,250  Form
4Thompson, Peter ASee footnotesSell702202645.50115,8445,270,902116,292,404Form
5Orbimed, Advisors LlcSee footnotesSell702202645.50115,8445,270,902116,292,404Form
6Thompson, Peter ASee footnotesSell529202644.491014,493118,864,867Form
7Orbimed, Advisors LlcSee footnotesSell529202644.491014,493118,864,867Form
8Thompson, Peter ASee footnotes(Sell511202646.22184,6398,534,015123,491,613Form
9Orbimed, Advisors LlcSee footnotes(Sell511202646.22184,6398,534,015123,491,613Form
10Thompson, Peter ASee footnotes(Sell511202644.5859,7672,664,413127,341,031Form
11Orbimed, Advisors LlcSee footnotes(Sell511202644.5859,7672,664,413127,341,031Form
12Thompson, Peter ASee footnotes(Sell511202644.6148,5462,165,637130,092,931Form
13Orbimed, Advisors LlcSee footnotes(Sell511202644.6148,5462,165,637130,092,931Form
14Thompson, Peter ASee footnotesSell421202644.522,948131,245131,991,738Form
15Orbimed, Advisors LlcSee footnotesSell421202644.522,948131,245131,991,738Form
16Thompson, Peter ASee footnotesSell421202644.6852,3972,341,098132,597,819Form
17Orbimed, Advisors LlcSee footnotesSell421202644.6852,3972,341,098132,597,819Form
18Thompson, Peter ASee footnotesSell416202645.34226,90610,287,918136,932,195Form
19Orbimed, Advisors LlcSee footnotesSell416202645.34226,90610,287,918136,932,195Form
20Thompson, Peter ASee footnotesSell416202644.64235,86310,528,924144,947,196Form
21Orbimed, Advisors LlcSee footnotesSell416202644.64235,86310,528,924144,947,196Form
22Thompson, Peter ASee footnotesSell416202644.5147,8142,128,201155,023,345Form
23Orbimed, Advisors LlcSee footnotesSell416202644.5147,8142,128,201155,023,345Form
24Fitzpatrick, JenniferChief Legal OfficerDirectSell306202633.8610,250  Form
25Thompson, Peter ASee footnotesSell204202644.5829,0631,295,629157,398,695Form
26Orbimed, Advisors LlcSee footnotesSell204202644.5829,0631,295,629157,398,695Form
27Thompson, Peter ASee footnotesSell204202644.571,89084,237158,658,726Form
28Orbimed, Advisors LlcSee footnotesSell204202644.571,89084,237158,658,726Form
29Tpg, Gp A, LlcSee Explanation of ResponsesSell126202640.00250,00010,000,000259,798,480Form
30Orbimed, Advisors LlcSee footnotesSell1229202544.5533,3561,486,010158,671,730Form
31Thompson, Peter ASee footnotesSell1229202544.5533,3561,486,010158,671,730Form
32Orbimed, Advisors LlcSee footnotesSell1219202544.4987538,929159,942,039Form
33Thompson, Peter ASee footnotesSell1219202544.4987538,929159,942,039Form
34Orbimed, Advisors LlcSee footnotesSell1219202544.491004,449159,980,968Form
35Thompson, Peter ASee footnotesSell1219202544.491004,449159,980,968Form
36Orbimed, Advisors LlcSee footnotesSell1219202544.5090040,050160,021,377Form
37Thompson, Peter ASee footnotesSell1219202544.5090040,050160,021,377Form
38Fitzpatrick, JenniferChief Legal OfficerDirectSell1209202540.5210,250  Form
39Orbimed, Advisors LlcSee footnotesSell1126202544.491,60071,184160,025,458Form
40Thompson, Peter ASee footnotesSell1126202544.491,60071,184160,025,458Form
41Orbimed, Advisors LlcSee footnotesSell1126202544.6011,890530,294160,492,476Form
42Thompson, Peter ASee footnotesSell1126202544.6011,890530,294160,492,476Form
43Orbimed, Advisors LlcSee footnotesSell1126202544.5494,5834,212,727160,806,147Form
44Thompson, Peter ASee footnotesSell1126202544.5494,5834,212,727160,806,147Form
45Ra, Capital Management, LPSee footnotesSell1124202539.5025,183994,7286,281,804Form
46Ra, Capital Management, LPSee footnotesSell1124202540.135,133205,9756,686,956Form
47Ra, Capital Management, LPSee footnotesSell1119202540.0147,4421,898,1736,729,468Form
48Ra, Capital Management, LPSee footnotesSell1119202539.576,922273,9047,222,593Form
49Ra, Capital Management, LPSee footnotesSell1119202540.5981,9873,328,0817,494,201Form
50Ra, Capital Management, LPSee footnotesSell1028202539.5862,6102,478,1048,287,696Form
51Ra, Capital Management, LPSee footnotesSell1028202539.50311,00012,284,5008,684,746Form
52Cloonan, MichaelPresident & CEODirectSell1022202536.2699,8003,618,56019,845,628Form
53Booth, BruceAtlas Venture Fund XI, L.P.Sell1021202534.2273,4602,514,03079,022,385Form
54Booth, BruceAtlas Venture Opportunity Fund II, L.P.Sell1021202534.2215,418527,65323,496,493Form
55Booth, BruceAtlas Venture Fund XI, L.P.Sell1020202532.0946,2731,484,94476,456,510Form
56Booth, BruceAtlas Venture Opportunity Fund II, L.P.Sell1020202532.099,712311,66722,527,340Form
57Booth, BruceAtlas Venture Fund XI, L.P.Sell1020202532.3750,5201,635,11778,608,858Form
58Booth, BruceAtlas Venture Opportunity Fund II, L.P.Sell1020202532.3710,604343,20623,034,611Form
59Booth, BruceAtlas Venture Fund XI, L.P.Sell1020202532.35139,8974,526,16980,213,850Form
60Booth, BruceAtlas Venture Opportunity Fund II, L.P.Sell1020202532.3529,363949,99823,369,028Form
61Cloonan, MichaelPresident & CEODirectSell1017202531.5110,425328,49117,246,726Form
62Cloonan, MichaelPresident & CEODirectSell1017202531.1114,775459,66217,028,279Form
63Booth, BruceAtlas Venture Fund XI, L.P.Sell1015202530.6195,7582,930,69480,160,728Form
64Booth, BruceAtlas Venture Opportunity Fund II, L.P.Sell1015202530.6120,098615,10423,004,835Form
65Booth, BruceAtlas Venture Fund XI, L.P.Sell1015202529.9550115,00581,312,543Form
66Booth, BruceAtlas Venture Opportunity Fund II, L.P.Sell1015202529.951053,14523,114,272Form
67Booth, BruceAtlas Venture Fund XI, L.P.Sell1015202530.3848,1301,462,20082,495,777Form
68Booth, BruceAtlas Venture Opportunity Fund II, L.P.Sell1015202530.3810,102306,90123,449,499Form
69Booth, BruceAtlas Venture Fund XI, L.P.Sell1015202529.9816,727501,47582,851,949Form
70Booth, BruceAtlas Venture Opportunity Fund II, L.P.Sell1015202529.983,511105,26023,443,431Form
71Booth, BruceAtlas Venture Fund XI, L.P.Sell1007202529.959,753292,10283,270,015Form
72Booth, BruceAtlas Venture Opportunity Fund II, L.P.Sell1007202529.952,04761,30823,525,126Form
73Booth, BruceAtlas Venture Fund XI, L.P.Sell1007202530.0031,198935,94083,701,620Form
74Booth, BruceAtlas Venture Opportunity Fund II, L.P.Sell1007202530.006,548196,44023,625,810Form
75Booth, BruceAtlas Venture Fund XI, L.P.Sell1001202529.951654,94284,496,497Form
76Booth, BruceAtlas Venture Opportunity Fund II, L.P.Sell1001202529.95351,04823,782,546Form
77Booth, BruceAtlas Venture Fund XI, L.P.Sell1001202530.0610,239307,78484,811,795Form
78Booth, BruceAtlas Venture Opportunity Fund II, L.P.Sell1001202530.062,14964,59923,870,947Form
79Booth, BruceAtlas Venture Fund XI, L.P.Sell1001202530.0954,6371,644,02785,204,529Form
80Booth, BruceAtlas Venture Opportunity Fund II, L.P.Sell1001202530.0911,468345,07223,959,433Form
81Cloonan, MichaelPresident & CEODirectSell930202529.707,793231,45116,256,032Form
82Cloonan, MichaelPresident & CEODirectSell930202528.8517,207496,34615,788,437Form
83Fitzpatrick, JenniferChief Legal OfficerDirectSell905202523.1210,250  Form
84Ridloff, ElenaCFO & Head of Corp. Dev.DirectSell903202525.088,836221,607966,383Form
85Ridloff, ElenaCFO & Head of Corp. Dev.DirectSell903202525.1874818,8351,192,726Form
86Ridloff, ElenaCFO & Head of Corp. Dev.DirectSell828202525.9716,098418,0651,249,573Form
87Cloonan, MichaelPresident & CEODirectSell828202525.017,426185,71413,688,282Form
88Ridloff, ElenaCFO & Head of Corp. Dev.DirectSell828202525.103,61890,8121,611,771Form
89Cloonan, MichaelPresident & CEODirectSell828202524.9617,574438,64713,661,681Form
90Ridloff, ElenaCFO & Head of Corp. Dev.DirectSell828202525.133,70092,9811,704,618Form
91Cloonan, MichaelPresident & CEODirectSell821202522.7525,000568,75012,452,053Form
92Ridloff, ElenaCFO & Head of Corp. Dev.DirectSell821202522.6917,500397,0751,623,061Form
93Ridloff, ElenaCFO & Head of Corp. Dev.DirectSell821202521.0834,500727,2601,876,795Form
94Tpg, Gp A, LlcSee Explanation of ResponsesBuy701202515.8460,000950,400106,840,198Form

Investor Activity (13F)

Updated Aug 3, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Enavate Sciences GP, LLC$99.3 Mil28.3%7Hold13F
Atlas Venture Life Science Advisors, LLC$120.1 Mil15.2%6Hold13F
Active Manager
Active Manager
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Atlas Venture Life Science Advisors, LLC$120.1 Mil15.2%6Hold13F
Enavate Sciences GP, LLC$99.3 Mil28.3%7Hold13F
Core Cache Last Updated: 8/2/2026