Cingulate Inc., a clinical-stage biopharmaceutical company, reported a significant improvement in its financial performance for 2024, with net loss narrowing to $15.5M from $23.5M in 2023. The loss per share substantially decreased to $10.20 from $311.99 year-over-year. The company maintains a cash position expected to sustain operations into Q4 2025, while carrying an accumulated deficit of $108.5M with no revenue generation.The company strengthened its financial position in early 2025 through multiple funding initiatives, raising $776K via ATM offerings and securing $900K through the Lincoln Park agreement. Notable operational developments include the completion of CTx-1301 registration batches and plans for NDA submission in mid-2025. The company also made a milestone payment of $250K in early 2023 for initiating the CTx-1301 Phase 3 trial.Corporate governance saw significant changes with WFIA converting $8M debt to equity and new appointments of independent directors and CFO in early 2024. The company maintains Nasdaq listing compliance while advancing its proprietary PTR™ platform for ADHD and anxiety treatments. Operating and finance lease obligations stood at $130.7K and $4.4K respectively as of December 31, 2024.

Cingulate Inc., a clinical-stage biopharmaceutical company, reported a significant improvement in its financial performance for 2024, with net loss narrowing to $15.5M from $23.5M in 2023. The loss per share substantially decreased to $10.20 from $311.99 year-over-year. The company maintains a cash position expected to sustain operations into Q4 2025, while carrying an accumulated deficit of $108.5M with no revenue generation.The company strengthened its financial position in early 2025 through multiple funding initiatives, raising $776K via ATM offerings and securing $900K through the Lincoln Park agreement. Notable operational developments include the completion of CTx-1301 registration batches and plans for NDA submission in mid-2025. The company also made a milestone payment of $250K in early 2023 for initiating the CTx-1301 Phase 3 trial.Corporate governance saw significant changes with WFIA converting $8M debt to equity and new appointments of independent directors and CFO in early 2024. The company maintains Nasdaq listing compliance while advancing its proprietary PTR™ platform for ADHD and anxiety treatments. Operating and finance lease obligations stood at $130.7K and $4.4K respectively as of December 31, 2024.