Goldman Sachs initiated coverage of Sionna Therapeutics (SION) with an Early-Stage Biotech designation. Lead assets SION-719 and SION-451 are designed to unlock full cystic fibrosis transmembrane conductance regulator function and the firm is “encouraged” by “promising” preclinical data in combination with complementary modulators, the analyst tells investors. However, the firm acknowledges questions around the translatability of the preclinical assay and looks to Phase 2a proof-of-concept data due in mid-2026 and also points out the “high bar needed to succeed as a late entrant to a market monopolized” by Vertex Pharmaceuticals (VRTX).
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