Cingulate, Inc. ( (CING) ) has released its Q4 earnings. Here is a breakdown of the information Cingulate, Inc. presented to its investors.
Cingulate Inc. is a biopharmaceutical company that leverages its proprietary Precision Timed Release™ (PTR™) technology to develop next-generation pharmaceutical products, primarily focusing on Attention Deficit/Hyperactivity Disorder (ADHD) treatments. In its latest earnings report, Cingulate Inc. highlighted significant financial and developmental milestones for the year ending December 31, 2024. Key achievements include the completion of Phase 3 trials for its lead ADHD treatment, CTx-1301, and the scheduling of a pre-New Drug Application (NDA) meeting with the FDA, with a submission targeted for mid-2025.
The company reported a $17.5 million increase in working capital, extending its cash runway into the fourth quarter of 2025. Cingulate’s financial health was bolstered by various fundraising activities, including stock offerings and promissory notes, resulting in a net loss reduction from $23.5 million in 2023 to $15.5 million in 2024. Additionally, research and development expenses decreased significantly as clinical activities were completed.
Cingulate’s strategic focus remains on advancing its lead candidate, CTx-1301, which has shown a consistent safety profile across multiple trials. The company also secured a European patent for CTx-1301 and conducted a managed care payor study, indicating strong market potential for the treatment. Furthermore, Cingulate is exploring licensing opportunities to expand its reach beyond the United States.
Looking ahead, Cingulate Inc. aims to continue its progress toward the NDA submission for CTx-1301 and explore additional therapeutic areas where its PTR technology can be applied. The company’s management remains optimistic about the potential market impact of its innovative ADHD treatment, pending regulatory approval.