Cingulate Inc. (CING): Nasdaq/NYSE listing notice — Cingulate faces new Nasdaq delisting notice; halts CTx-1301 Phase 3 trials, plans NDA by H1 2025

Cingulate Inc.

Received additional Nasdaq non-compliance letter on Dec 26 due to three board resignations; hearing set for Feb 2024.
Stopped enrollment in two Phase 3 pediatric ADHD studies for CTx-1301 after FDA guidance; NDA planned H1 2025 under 505(b)(2).
Capital needed for CTx-1301 NDA reduced to $17-21M, $9-13M less than prior estimate.
Needs to raise ~$15M by March 31, 2024 to regain compliance with Nasdaq minimum stockholders' equity rule.
Board reduced to two non-independent directors; actively seeking new independent directors.

item 3.01 item 8.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Cingulate Inc. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1), 5605).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: stockholders equity
Rules: 5550(b)(1), 5605

Exact text from the filing

s non-compliance serves as additional and separate bases for desilting of our securities from Nasdaq. As previously disclosed, on November 14, 2023, we received a letter from Nasdaq indicating that, based upon our continued non-compliance the minimum stockholders’ equity requirement in Listing Rule 5550(b)(1) (the “Minimum Stockholders’ Equity Rule”) for continued listing on Nasdaq, the Staff had determined to delist our securities from Nasdaq. We timely requested a hearing before the Nasdaq Hearings Panel (the “Panel”) and Nasdaq granted our request. At the Panel hearing, which is expected to

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Cingulate Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-046319

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