Cingulate Inc. is a biopharmaceutical enterprise currently in its clinical development phase, dedicated to devising therapeutic options for attention-deficit/hyperactivity disorder (ADHD). Leading ...
Cingulate Inc. (NASDAQ: CING) is a clinical-stage biopharmaceutical company headquartered in Kansas City, Kansas, founded in 2012. The company's core mission is to address unmet needs in central nervous system (CNS) disorders through its innovative Precision Timed Release (PTR) drug delivery platform, which enables the development of medications with optimized release profiles for enhanced efficacy, tolerability, and patient compliance.
Cingulate's pipeline is centered on three key candidates. CTx-1301 (dexmethylphenidate) is the lead product candidate for ADHD, currently in Phase 3 clinical trials. CTx-1302 (dextroamphetamine) is another ADHD candidate also advancing through Phase 3. Additionally, the company is developing CTx-2103, a candidate for anxiety disorders, which is in earlier stages of development. The PTR platform differentiates Cingulate by allowing for a single-dose, multi-release profile that could potentially replace multiple daily doses, improving patient adherence and outcomes.
As of the latest reported period (TTM data from the financial overview), Cingulate has 14 full-time employees, reflecting its clinical-stage status with a lean operational structure. The company is led by CEO and co-founder Shane J. Schaffer, a 25-year pharmaceutical industry veteran with extensive experience in drug development and commercialization. Financially, Cingulate is pre-revenue, with no product sales yet. Its financial metrics show negative profitability ratios (e.g., net profit margin and return on equity are negative), indicating ongoing investment in R&D. The company's cash position and working capital (approximately $25.9 million in cash as of March 31, 2026, per a recent report) are critical to funding clinical trials and advancing its pipeline.
Cingulate trades on the NASDAQ Capital Market with a market cap of around $70.2 million (as of the latest snapshot). Key financial ratios include a current ratio of 2.547, indicating sufficient short-term liquidity, and a debt-to-equity ratio of 0.394, suggesting a moderate use of leverage. The company's burn rate is high, with a negative free cash flow (FCF) of about -$13.8 million (FCF to equity) over the trailing twelve months, reflecting its heavy investment in R&D and clinical operations. Despite these losses, the company's PTR technology has significant potential, and its progress in Phase 3 trials for ADHD candidates positions it well for potential future commercialization. Overall, Cingulate's strategic focus, experienced leadership, and proprietary platform make it a notable player in the CNS biotech space, though it remains dependent on successful clinical outcomes and additional financing.
