Cingulate Q2 net loss narrows to $3.2M; FDA clears NDA filing for ADHD drug CTx-1301

Cingulate Inc.

2024-Q2 EPS reported -$12.28

Net loss of $3.2M in Q2 2024 vs $6.6M in Q2 2023; R&D expenses fell to $1.9M from $4.5M YoY.
Cash and equivalents $0.4M at June 30; received $1.6M net proceeds from warrant inducement closed July 1.
FDA confirmed remaining clinical requirements; NDA submission for CTx-1301 targeted for first half 2025.
Completed 1-for-12 reverse stock split on Aug 9 to regain compliance with Nasdaq $1.00 bid price rule.
Commissioned payer study (10 payers, 121M lives) found CTx-1301 likely to gain coverage; licensing discussions ongoing.

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