Cingulate Inc. reports clinical, regulatory, intellectual property and financing developments tied to its Precision Timed Release™ drug-delivery platform. The clinical-stage biopharmaceutical company is focused on once-daily, multi-core tablet formulations for central nervous system conditions, led by CTx-1301 (dexmethylphenidate HCl) for attention deficit/hyperactivity disorder.
Company news commonly covers CTx-1301 data presentations, FDA interactions under the 505(b)(2) pathway, patent activity in the United States and Europe, commercial supply and launch-preparation arrangements, quarterly financial results, private placements, at-the-market financing capacity, and governance or executive updates.
Cingulate Inc. has successfully completed its initial public offering, selling 4,166,666 shares of common stock along with warrants, generating approximately $25 million in gross proceeds. The shares and warrants now trade on the Nasdaq under the symbols ‘CING’ and ‘CINGW’, respectively. The funds will primarily support research and development for their product candidates, including CTx-1301 and CTx-1302, and cover various financial obligations. An over-allotment option was partially exercised, allowing for the sale of additional shares and warrants.
Cingulate Inc. has priced its initial public offering (IPO) of 4,166,666 shares at $6.00 per share, paired with warrants at the same price. The offering will yield gross proceeds of approximately $25 million, aimed at advancing its clinical products, including CTx-1301 and CTx-1302, focused on ADHD treatment. The shares and warrants are set to trade on Nasdaq under the symbols ‘CING’ and ‘CINGW’ starting December 8, 2021. The transaction is expected to close on December 10, 2021, if standard conditions are met.