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CINGW

Cingulate Inc.

CINGW

Cingulate Inc. • NASDAQ
$0.04 ▲ 22.36% (+0.01)
Market Cap $11.19 M
52w High $0.04
52w Low $0.04
Dividend Yield 0%
P/E -0.02
Volume 12.40K
Outstanding Shares 292.26M

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 pure development‑stage biotech: it has not generated any product revenue over the past several years. All activity shows up as operating losses tied to R&D and overhead rather than sales. Losses have been fairly steady year to year in absolute terms, but the per‑share figures look extreme because of the company’s small scale and capital structure changes. In practical terms, this is a typical pre‑commercial biotech income statement: no sales yet, recurring losses, and a clear dependence on future approvals or partnerships to eventually cover ongoing expenses.

Balance Sheet

Balance Sheet The balance sheet is very light, with a small base of total assets and cash and only modest but meaningful debt relative to that small size. Equity has swung around and was negative at one point, signaling past financial strain and recapitalization. Overall, the company appears thinly capitalized, with limited cushion to absorb setbacks. Its current financial position leaves little room for prolonged delays in regulatory or commercial milestones without new external funding.

Cash Flow

Cash Flow Cash flow patterns are what you’d expect from a clinical‑stage biotech without revenue: cash is consistently flowing out from operations to fund trials, staff, and corporate costs. Free cash flow is negative and closely tracks operating cash outflow, since capital spending is minimal. This means the business is not self‑funding in any way and relies on raising capital or doing deals periodically to keep programs moving forward.

Competitive Edge

Competitive Edge Cingulate’s competitive edge centers on its Precision Timed Release platform, which aims to offer truly once‑daily pills with more stable symptom control across the full day. In ADHD and anxiety, that could address real pain points such as midday “wear‑off,” the need for booster doses, and adherence problems. However, the company is very small and will be competing against entrenched, well‑funded players in neurology and psychiatry. Its position is therefore a mix of strong technical differentiation but limited commercial muscle, making execution, partnerships, and payer acceptance crucial to turning its scientific edge into durable market share.

Innovation and R&D

Innovation and R&D Innovation is the clear strength here. The PTR platform, with its staged release design, underpins multiple candidates in ADHD and anxiety and could potentially be adapted to other conditions needing steady, all‑day dosing. The lead ADHD asset is already at the regulatory filing stage, which is relatively advanced for a small biotech, while follow‑on ADHD and anxiety candidates provide a pipeline behind it. The company has also invested in patents across key regions, helping protect its approach. At the same time, everything still hinges on clinical and regulatory outcomes, and on whether real‑world benefits versus existing therapies are convincing enough for doctors, patients, and payers.

Summary

Cingulate (and by extension its warrants) represents a high‑risk, high‑uncertainty, early‑stage biotech story. Financially, it is pre‑revenue, loss‑making, lightly capitalized, and reliant on external funding, which heightens sensitivity to delays or negative trial or regulatory news. Strategically, it has a focused but potentially powerful technology for improving daily symptom control in ADHD and anxiety, backed by patents and a late‑stage lead program. The overall picture is a company with clear scientific ambition and a targeted platform, but with substantial execution, financing, regulatory, and competitive risks that will likely lead to a very binary outcome over time depending on how its lead and follow‑on programs progress.