Cingulate Q2 cash $0.3M, net loss widens to $6.6M; Phase 3 adult ADHD trial misses primary endpoint

Cingulate Inc.

2023-Q2 EPS reported -$0.92

Cash and equivalents $0.3M at June 30, 2023; expects to fund operations only into September 2023.
Net loss $6.6M in Q2 2023 vs $4.0M in Q2 2022; R&D expenses $4.5M vs $2.2M.
Phase 3 adult efficacy trial of CTx-1301 did not achieve statistical significance on primary endpoint; effect size 1.79 cited.
Private placement with WFIA: 1,823,155 shares at $0.5485, gross proceeds $1.0M, closed August 11, 2023.

item 1.01 item 2.02 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Cingulate Inc. reported financial results for the quarter ended June 30, 2023.

Period: the quarter ended June 30, 2023
Result: reported results

Exact text from the filing

On August 14, 2023, the Company issued a press release announcing its financial results for the second quarter of 2023

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Cingulate Inc. entered into Securities Purchase Agreement with Werth Family Investment Associates LLC valued at aggregate gross proceeds to the Company of approximately $1.0 million (effective 2023-08-11).

Action: entry
Agreement: equity purchase
Counterparty: Werth Family Investment Associates LLC
Value: aggregate gross proceeds to the Company of approximately $1.0 million
Effective: 2023-08-11

Exact text from the filing

On August 11, 2023, Cingulate Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with Werth Family Investment Associates LLC (“WFIA”)

View on SEC.gov

51 earnings releases filed in the last 30 days. Browse all earnings releases →

Cingulate Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-028522

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