CINGW Cingulate Inc.
Price Chart
Executive Summary
Cingulate Inc. reported Q1 2026 results with a net loss of $9.3M, widening from a $3.9M loss in Q1 2025, driven by a 287% increase in G&A expenses to $5.7M as the company builds commercial infrastructure ahead of the May 31, 2026 PDUFA date for CTx-1301. Cash grew to $25.9M from $11.0M at year-end 2025, funded by a $12M PIPE and ATM usage, extending runway into 2027. The pre-revenue biotech remains a binary event stock with no revenue or EPS consensus to beat.
Actionable Insight
The May 31, 2026 PDUFA date for CTx-1301 is the primary catalyst — approval would transform the company from pre-revenue to commercial stage, while a CRL would likely trigger significant dilution or restructuring. The recent S-3 shelf registration adds overhang risk from potential secondary sales by existing investors. Monitor FDA communication closely in the next two weeks.
Key Facts
- Net loss widened to $9.3M in Q1 2026 from $3.9M in Q1 2025, driven by G&A costs rising 287% to $5.7M for commercial build-out
- Cash and cash equivalents grew to $25.9M as of March 31, 2026, up $14.9M from $10.95M at December 31, 2025
- Working capital improved to $17.0M from $1.7M at year-end 2025
- R&D expenses were $2.2M, down 1.8% YoY as clinical studies concluded, offset by higher regulatory/manufacturing costs
- Cash runway extended into 2027, supporting operations through the May 31, 2026 PDUFA date for CTx-1301
- S-3 shelf registration filed April 14, 2026 for resale of up to 4,208,711 shares from a January 2026 private placement
- No revenue generated; pre-revenue clinical-stage biotech with no analyst EPS consensus available
Financial Impact
Net loss of $9.3M in Q1 2026 vs $3.9M in Q1 2025; cash position $25.9M; no revenue
Risk Factors
- PDUFA date of May 31, 2026 — FDA could issue a Complete Response Letter (CRL) on CTx-1301 NDA, given ongoing CMC information requests
- S-3 shelf registration filed April 14, 2026 allows selling stockholders to resell up to 4.2M shares, creating overhang
- Pre-revenue with no approved products; net loss widening as commercial spending ramps up
- Accumulated deficit of $141.7M with no path to profitability without product approval
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-022881 |
| Exhibit: ex99-1.htm | 0001493152-26-022881 |
| Document: 0001493152-26-022881-index-headers.html | 0001493152-26-022881 |
| Document: 0001493152-26-022881-index.html | 0001493152-26-022881 |
| Document: 0001493152-26-022881.txt | 0001493152-26-022881 |
| 8-K Data (Synthetic) | 0001493152-26-022881 |
Track record builds as more directional reports settle.
Filters
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Jun 2, 2026
11d ago
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8-K
| $0.0601 $0.0601 | · 0.00% | ▼ −0.69% | $0.0601 (−0.00%) |
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May 19, 2026
24d ago
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8-K
| $0.0601 $0.0601 | · 0.00% | ▼ −0.19% | $0.0601 (+0.00%) |
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May 14, 2026
4w ago
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8-K
| $0.0601 $0.0601 | · 0.00% | ▲ +1.23% | $0.0601 (+0.00%) |
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May 14, 2026
4w ago
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Press Release
| $0.0601 $0.0601 | · 0.00% | ▲ +1.23% | $0.0601 (+0.00%) |
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Apr 27, 2026
6w ago
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EFFECT
| $0.0601 $0.0601 | · 0.00% | ▼ −0.49% | $0.0601 (−0.00%) |
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Mar 18, 2026
12w ago
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Press Release
| $0.0601 $0.0601 | · 0.00% | ▲ +0.27% | $0.0601 (+0.00%) |
US Market Status
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