Quarterly ResultAug 13, 2026, 08:51 AM
Cingulate Q2 Net Loss $(5.87)M; Cash $28.4M; FDA CRL for CTx-1301
AI Summary
Cingulate Inc. reported a net loss of $(5.87) million for Q2 2026 and $(15.18) million for the six months ended June 30, 2026. The company's cash and cash equivalents significantly increased to $28.4 million, and total stockholders' equity rose to $23.47 million, primarily due to financing activities. However, the FDA issued a Complete Response Letter for the CTx-1301 NDA, requesting additional CMC information, and the company expressed substantial doubt about its ability to continue as a going concern.
Key Highlights
- FDA issued a Complete Response Letter for CTx-1301 NDA on June 2, 2026, requesting additional CMC information.
- Net loss for Q2 2026 was $(5.87) million, compared to $(4.98) million in Q2 2025.
- Net loss for H1 2026 was $(15.18) million, compared to $(8.84) million in H1 2025.
- Cash and cash equivalents increased to $28.40 million as of June 30, 2026, from $10.95 million at year-end 2025.
- Total stockholders' equity rose to $23.47 million as of June 30, 2026, from $2.51 million at year-end 2025.
- Net cash provided by financing activities was $30.39 million for H1 2026.
- Selling, general and administrative expenses increased to $9.67 million for H1 2026 from $3.43 million for H1 2025.
- Company expressed substantial doubt about its ability to continue as a going concern.
Price Impact
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