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CING

Cingulate Inc.

CING

Cingulate Inc. • NASDAQ
$3.73 ▲ 1.77% (+0.07)
Market Cap $20.94 M
52w High $6.01
52w Low $3.20
Dividend Yield 0%
P/E -1.35
Volume 152.85K
Outstanding Shares 5.61M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $5.889M ▲ $-7.341M ▼ 0% $-1.35 ▼ $-7.234M ▼
Q2-2025 $0 $4.503M ▲ $-4.789M ▼ 0% $-1.09 ▼ $-4.642M ▼
Q1-2025 $0 $3.541M ▼ $-3.803M ▲ 0% $-1.04 ▲ $-3.637M ▲
Q4-2024 $0 $6.048M ▲ $-6.132M ▼ 0% $-1.8 ▲ $-5.972M ▼
Q3-2024 $0 $3.117M $-4.126M 0% $-1.83 $-3.96M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $6.119M ▼ $10.519M ▼ $7.045M ▼ $3.474M ▼
Q2-2025 $8.9M ▼ $13.468M ▲ $7.956M ▲ $5.512M ▼
Q1-2025 $9.519M ▼ $12.47M ▼ $6.539M ▼ $5.931M ▼
Q4-2024 $12.211M ▲ $14.864M ▲ $7.409M ▲ $7.456M ▼
Q3-2024 $10.04M $13.58M $1.543M $12.038M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-7.341M ▼ $-4.244M ▲ $0 ▲ $1.463M ▼ $-2.781M ▼ $-4.244M ▲
Q2-2025 $-4.789M ▼ $-4.795M ▼ $-5.925K ▼ $4.182M ▲ $-618.783K ▲ $-4.801M ▼
Q1-2025 $-3.803M ▲ $-4.608M ▼ $0 ▲ $1.916M ▼ $-2.692M ▼ $-4.608M ▼
Q4-2024 $-6.132M ▼ $-4.08M ▼ $-198.462K ▼ $6.449M ▼ $2.171M ▼ $-4.278M ▼
Q3-2024 $-3.232M $-3.883M $140.795K $13.402M $9.659M $-3.743M

Five-Year Company Overview

Income Statement

Income Statement Cingulate is still a pre‑revenue biotech story. Over the past several years it has reported essentially no product sales and only operating losses. Those losses have been relatively steady in size, reflecting ongoing R&D, corporate overhead, and preparation for possible commercialization rather than any major scale‑up in revenue. Per‑share losses look dramatic largely because of reverse stock splits and a very small share count, not because the underlying cash burn suddenly exploded. Overall, this is a classic early‑stage biopharma income statement: all expenses, no commercial income yet, and progress measured in clinical and regulatory milestones rather than in sales growth.

Balance Sheet

Balance Sheet The balance sheet is very small and thinly capitalized. Assets are limited and mostly held as cash, with only modest other resources. Debt has appeared on the balance sheet in recent years, which adds financial obligations on top of ongoing operating needs. Equity has fluctuated and has at times been close to or below zero, signaling balance‑sheet strain and reliance on external funding or recapitalization. In simple terms, the company operates with a narrow financial cushion and limited tangible backing, which heightens sensitivity to setbacks or delays.

Cash Flow

Cash Flow Cash flow is consistently negative, driven by operating activities like clinical trials, regulatory work, and corporate costs. There is essentially no investment in heavy equipment or facilities, so the main cash use is keeping the R&D and corporate engine running. This pattern is typical for a clinical‑stage biotech: steady cash burn, no offsetting inflows from product sales, and dependence on financing transactions or partnerships to refill the cash balance. The key question for the future is whether upcoming milestones arrive before existing cash resources become too tight.

Competitive Edge

Competitive Edge Cingulate’s competitive position centers on a focused niche rather than broad scale. It targets ADHD and related conditions with a differentiated drug‑delivery approach rather than a brand‑new molecule, aiming to improve convenience and daily symptom control. The patented Precision Timed Release platform, plus recent international patent grants, provides some protection against direct copycats. Manufacturing partnerships and a commercialization partner strengthen execution capabilities that small biotechs often lack. Against this, the company faces large, entrenched competitors in ADHD, heavy reliance on a single lead asset, and the usual regulatory and reimbursement uncertainties. Its moat is based on formulation and timing of drug release, not on being the only player in the disease area.

Innovation and R&D

Innovation and R&D Innovation is the core of the story. Cingulate is building around one proprietary delivery platform and then extending it across multiple drugs and conditions. The lead ADHD candidate using this technology is already in late‑stage development and has progressed to an FDA review process, which is a major R&D milestone. Follow‑on candidates in ADHD and anxiety show management’s intent to reuse the same platform rather than start from scratch each time, which can be efficient if the first approval is successful. The pipeline is still relatively narrow, so outcomes for the first product will strongly influence the perceived value of the entire R&D effort. Overall, this is a high‑risk, high‑uncertainty innovation profile typical of small biotechs: potentially meaningful clinical upside if studies and regulators cooperate, but concentrated exposure if they do not.

Summary

Cingulate is a small, clinical‑stage biotech built around a specialized drug‑delivery technology for ADHD and other neurological or psychiatric conditions. Financially, it is pre‑revenue, loss‑making, and reliant on external funding, with a lean balance sheet and ongoing cash burn. Strategically, it has a clear focal point in ADHD, patent protection around its platform, and partnerships to support manufacturing and commercialization. The company’s future hinges on regulatory decisions and market reception for its lead ADHD product, as well as its ability to extend the same platform into additional indications. As with many early‑stage biopharmas, the outlook is binary and uncertain: progress on clinical and regulatory fronts could materially change the business profile, while delays or negative outcomes would put added pressure on its already tight financial position.

NEWS

November 18, 2025 · 4:27 PM UTC

Stonegate Capital Partners Updates Coverage on Cingulate Inc. (CING) 3Q25

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October 23, 2025 · 4:45 PM UTC

Cingulate's Lead ADHD Candidate CTx-1301 Selected for Podium Presentation at AACAP Annual Meeting

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September 17, 2025 · 8:45 AM UTC

Cingulate Secures Exclusive Manufacturing Partnership with Bend Bio Sciences to Support Future Commercialization of Next Generation ADHD Treatment

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