Sionna Therapeutics, a clinical-stage biopharmaceutical company focused on developing novel medicines that normalise the function of the cystic fibrosis transmembrane conductance regulator (CFTR) protein, has announced the pricing of its upsized initial public offering of 10,588,233 shares of its common stock at a public offering price of $18.00 per share.

The gross proceeds from the initial public offering are expected to be approximately $191 million, before deducting underwriting discounts and commissions and other offering expenses, and excluding any exercise of the underwriters’ option to purchase additional shares of common stock.