Cingulate Inc., a biopharmaceutical company, reported its financial performance for the quarter ended September 30, 2024. The company experienced a net loss of $3.2 million, a decrease from the $5.9 million loss in the same period the previous year. Research and development expenses totaled $1.4 million, a significant reduction from $3.9 million in the prior year, primarily due to decreased clinical activity. General and administrative expenses slightly increased to $1.9 million, up from $1.8 million, mainly due to higher legal and professional fees. Interest and other income netted $50,000, an improvement from a $229,000 expense in the previous year. Cingulate Inc. has not generated any revenue and continues to incur losses as it develops its product candidates, including CTx-1301 for ADHD treatment. The company's future plans include seeking regulatory...Show More

Cingulate Inc., a biopharmaceutical company, reported its financial performance for the quarter ended September 30, 2024. The company experienced a net loss of $3.2 million, a decrease from the $5.9 million loss in the same period the previous year. Research and development expenses totaled $1.4 million, a significant reduction from $3.9 million in the prior year, primarily due to decreased clinical activity. General and administrative expenses slightly increased to $1.9 million, up from $1.8 million, mainly due to higher legal and professional fees. Interest and other income netted $50,000, an improvement from a $229,000 expense in the previous year. Cingulate Inc. has not generated any revenue and continues to incur losses as it develops its product candidates, including CTx-1301 for ADHD treatment. The company's future plans include seeking regulatory approval for CTx-1301, advancing other product candidates, and potentially commercializing approved products. Cingulate Inc. is actively seeking additional capital to support its operations and development efforts. The company's common stock and warrants are listed on The Nasdaq Capital Market, and it has recently regained compliance with Nasdaq's minimum stockholders' equity and minimum bid price requirements.