8-K
filed December 15, 2023, 6:59 PM ET
ticker CING
CIK 0001862150
other material
confidence high
sentiment negative
materiality 0.85
Cingulate CFO & GC resign; pauses CTx-1301 trial; CEO salary cut 55%; warns of capital need
Cingulate Inc.
- CFO Louis Van Horn retired Dec 13; General Counsel Craig Gilgallon resigned effective Dec 15.
- CEO Shane Schaffer base salary reduced 55% to $226,350; COO Laurie Myers reduced 50% to $212,000.
- Three directors (Gallagher, Givens, Medeiros) resigned.
- Clinical trial for CTx-1301 paused pending FDA guidance; expects ~$184k/month comp expense reduction.
- Company states no assurance of continued operations; needs significant capital; may file for bankruptcy.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Craig S. Gilgallon resigned as General Counsel at Cingulate Inc..
- Action
- resigned
- Role
- General Counsel
Exact text from the filing
On December 12, 2023, Craig S. Gilgallon, General Counsel, informed Cingulate Inc. (the “Company”) that he was resigning as an officer of the Company and was terminating employment with Cingulate Therapeutics LLC, a wholly-owned subsidiary of the Company, effective on December 15, 2023.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Gregg Givens resigned as Director at Cingulate Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
On December 13, 2023, each of Gregg Givens and Curt Medeiros provided the Company with notice of their resignation from the Board of Directors.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Curt Medeiros resigned as Director at Cingulate Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
On December 13, 2023, each of Gregg Givens and Curt Medeiros provided the Company with notice of their resignation from the Board of Directors.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Patrick Gallagher resigned as Director at Cingulate Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
On December 12, 2023, Patrick Gallagher provided the Company with notice of his resignation from the Board of Directors.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Louis G. Van Horn retired as Chief Financial Officer at Cingulate Inc..
- Action
- retired
- Role
- Chief Financial Officer
Exact text from the filing
On December 13, 2023, Louis G. Van Horn, Chief Financial Officer, retired from the Company, effective immediately.
View on SEC.gov
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