Sionna hits record low after experimental drug misses mid-stage trial goal
BUZZ-Sionna hits record low after experimental drug misses mid-stage trial goal Updates
** Shares of biotech firm Sionna Therapeutics SION.O shares plunge 91% to $4.23, hitting a record low
** Stock on track for its biggest one-day percentage drop on record
** Co says experimental cystic fibrosis drug SION-719 failed to improve sweat chloride levels, a key measure of CFTR protein function, in a mid-stage study
** Co says SION-719 will not advance as an add-on treatment to Vertex's standard therapy Trikafta after missing the study's main activity goal
** Trial showed a placebo-adjusted sweat chloride change of -1.0 mmol/L, with potential confounding factors under review
** Sionna says SION-451 dual combinations met safety, tolerability and drug exposure goals in healthy volunteers; reviewing next steps
** Cystic fibrosis is an inherited disease that causes thick, sticky mucus to build up in the lungs and other organs
** Including session moves, stock down ~90% YTD
(Reporting by Sahil Pandey in Bengaluru)
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