Home/Markets/‘Cingulate incorporated Achieves Major Milestones in Q3 2023\n\nCingulate incorporated, a biopharmaceutical company utilizing its proprietary Precision Timed Release™ (PTR™) drug delivery platform technology, has announced its financial results for the quarter ended September 30, 2023, along with a clinical and business update. The company’s highlights include the presentation of data from its Phase 3 adult efficacy and safety trial, the successful closure of a $4 million public offering, and the conversion of $5.8 million of debt into equity.\n\n”We are pleased with the full data received from the Phase 3 adult efficacy and safety trial, and believe it amplifies our view that the effect size seen with CTx-1301 is positioned to provide substantial benefit to the millions of ADHD patients,” said Cingulate Chairman and CEO Shane J. Schaffer.\n\nOn September 11, 2023, Cingulate entered into a Securities Purchase Agreement, resulting in the issuance of 1,720,000 shares of common stock, pre-funded warrants, Series A warrants, and Series B warrants. The offering closed on September 13, 2023, with a combined purchase price per share of common stock and accompanying warrants at $0.5776, and a combined purchase price per pre-funded warrant and accompanying warrants at $0.5775. The Series A and Series B warrants have an exercise price of $0.5776 per share and will expire on November 3, 2028 and November 3, 2025, respectively. The issuance of common stock upon the exercise of the warrants was approved by the Company’s stockholders at a special meeting held on November 3, 2023. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.\n\nIn addition, on September 8, 2023, Werth Family Investment Associates, LLC (“WFIA”), the manager of which is Peter J. Werth, a member of the Cingulate board of directors, converted $5.8 million of debt and accrued interest into pre-funded warrants to purchase 6,838,235 shares of Cingulate common stock. The pre-funded warrants have no expiration date and are exercisable immediately at an exercise price of $0.0001 per share, subject to a beneficial ownership blocker of 19.99%.\n\nCingulate also presented full results from the Phase 3 adult efficacy and safety study of its lead candidate, CTx-1301 (dexmethylphenidate), for the treatment of attention deficit hyperactivity disorder (ADHD), at the 36th Annual Psych Congress in Nashville, TN on September 8, 2023. The study, which was not powered for statistical significance, demonstrated a strong effect size of CTx-1301 in 21 adults with ADHD.\n\n’

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‘Cingulate incorporated Achieves Major Milestones in Q3 2023\n\nCingulate incorporated, a biopharmaceutical company utilizing its proprietary Precision Timed Release™ (PTR™) drug delivery platform technology, has announced its financial results for the quarter ended September 30, 2023, along with a clinical and business update. The company’s highlights include the presentation of data from its Phase 3 adult efficacy and safety trial, the successful closure of a $4 million public offering, and the conversion of $5.8 million of debt into equity.\n\n”We are pleased with the full data received from the Phase 3 adult efficacy and safety trial, and believe it amplifies our view that the effect size seen with CTx-1301 is positioned to provide substantial benefit to the millions of ADHD patients,” said Cingulate Chairman and CEO Shane J. Schaffer.\n\nOn September 11, 2023, Cingulate entered into a Securities Purchase Agreement, resulting in the issuance of 1,720,000 shares of common stock, pre-funded warrants, Series A warrants, and Series B warrants. The offering closed on September 13, 2023, with a combined purchase price per share of common stock and accompanying warrants at $0.5776, and a combined purchase price per pre-funded warrant and accompanying warrants at $0.5775. The Series A and Series B warrants have an exercise price of $0.5776 per share and will expire on November 3, 2028 and November 3, 2025, respectively. The issuance of common stock upon the exercise of the warrants was approved by the Company’s stockholders at a special meeting held on November 3, 2023. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.\n\nIn addition, on September 8, 2023, Werth Family Investment Associates, LLC (“WFIA”), the manager of which is Peter J. Werth, a member of the Cingulate board of directors, converted $5.8 million of debt and accrued interest into pre-funded warrants to purchase 6,838,235 shares of Cingulate common stock. The pre-funded warrants have no expiration date and are exercisable immediately at an exercise price of $0.0001 per share, subject to a beneficial ownership blocker of 19.99%.\n\nCingulate also presented full results from the Phase 3 adult efficacy and safety study of its lead candidate, CTx-1301 (dexmethylphenidate), for the treatment of attention deficit hyperactivity disorder (ADHD), at the 36th Annual Psych Congress in Nashville, TN on September 8, 2023. The study, which was not powered for statistical significance, demonstrated a strong effect size of CTx-1301 in 21 adults with ADHD.\n\n’

‘Cingulate incorporated Achieves Major Milestones in Q3 2023\n\nCingulate incorporated, a biopharmaceutical company utilizing its proprietary Precision Timed Release™ (PTR™) drug delivery platform technology, has announced its financial results for the quarter ended September 30, 2023, along with a clinical and business update. The company’s highlights include the presentation of data from its Phase 3 adult efficacy and safety trial, the successful closure of a $4 million public offering, and the conversion of $5.8 million of debt into equity.\n\n”We are pleased with the full data received from the Phase 3 adult efficacy and safety trial, and believe it amplifies our view that the effect size seen with CTx-1301 is positioned to provide substantial benefit to the millions of ADHD patients,” said Cingulate Chairman and CEO Shane J. Schaffer.\n\nOn September 11, 2023, Cingulate entered into a Securities Purchase Agreement, resulting in the issuance of 1,720,000 shares of common stock, pre-funded warrants, Series A warrants, and Series B warrants. The offering closed on September 13, 2023, with a combined purchase price per share of common stock and accompanying warrants at $0.5776, and a combined purchase price per pre-funded warrant and accompanying warrants at $0.5775. The Series A and Series B warrants have an exercise price of $0.5776 per share and will expire on November 3, 2028 and November 3, 2025, respectively. The issuance of common stock upon the exercise of the warrants was approved by the Company’s stockholders at a special meeting held on November 3, 2023. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.\n\nIn addition, on September 8, 2023, Werth Family Investment Associates, LLC (“WFIA”), the manager of which is Peter J. Werth, a member of the Cingulate board of directors, converted $5.8 million of debt and accrued interest into pre-funded warrants to purchase 6,838,235 shares of Cingulate common stock. The pre-funded warrants have no expiration date and are exercisable immediately at an exercise price of $0.0001 per share, subject to a beneficial ownership blocker of 19.99%.\n\nCingulate also presented full results from the Phase 3 adult efficacy and safety study of its lead candidate, CTx-1301 (dexmethylphenidate), for the treatment of attention deficit hyperactivity disorder (ADHD), at the 36th Annual Psych Congress in Nashville, TN on September 8, 2023. The study, which was not powered for statistical significance, demonstrated a strong effect size of CTx-1301 in 21 adults with ADHD.\n\n’$CING2023-12-28T18:29:42.779Z

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