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10-Q: Q2 2024 Earnings Report

10-Q: Q2 2024 Earnings Report

10-Q：2024财年二季报
美股SEC公告 ·  2024/08/13 20:17

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Cingulate Inc. reported Q2 2024 financial results with a net loss of $3.2 million, down from $6.6 million in Q2 2023, as research and development expenses decreased 57.8% to $1.9 million. The company ended the quarter with $0.4 million in cash and cash equivalents. Revenue remains at zero as the company continues product development activities.Research and development costs declined primarily due to reduced clinical trial activity for CTx-1301, as enrollment in two Phase 3 pediatric studies was completed in late 2023. General and administrative expenses decreased 30.5% to $1.3 million, driven by lower headcount and cost containment measures including salary reductions. The company is targeting an NDA submission for CTx-1301 in the first half of 2025.Management estimates approximately $12-13 million in additional capital is needed to achieve the CTx-1301 NDA filing timeline. The company is actively seeking a strategic pharmaceutical partnership and exploring various financing options, having raised funds through warrant exercises and stock sales in Q2. Subsequent to quarter end, Cingulate received $1.6 million from a warrant inducement transaction that closed July 1, 2024.
Cingulate Inc. reported Q2 2024 financial results with a net loss of $3.2 million, down from $6.6 million in Q2 2023, as research and development expenses decreased 57.8% to $1.9 million. The company ended the quarter with $0.4 million in cash and cash equivalents. Revenue remains at zero as the company continues product development activities.Research and development costs declined primarily due to reduced clinical trial activity for CTx-1301, as enrollment in two Phase 3 pediatric studies was completed in late 2023. General and administrative expenses decreased 30.5% to $1.3 million, driven by lower headcount and cost containment measures including salary reductions. The company is targeting an NDA submission for CTx-1301 in the first half of 2025.Management estimates approximately $12-13 million in additional capital is needed to achieve the CTx-1301 NDA filing timeline. The company is actively seeking a strategic pharmaceutical partnership and exploring various financing options, having raised funds through warrant exercises and stock sales in Q2. Subsequent to quarter end, Cingulate received $1.6 million from a warrant inducement transaction that closed July 1, 2024.
Cingulate Inc. 公布了2024年第二季度财务结果，净亏损为320万美元，较2023年第二季度的660万美元有所减少，因为研发费用下降了57.8%，降至190万美元。该公司在季度末的现金及现金等价物为40万美元。营业收入保持在零，因为公司仍在进行产品开发活动。研发成本下降主要是由于CTx-1301的临床试验活动减少，因为两个第三期儿童研究的入组在2023年末完成。一般及管理费用下降了30.5%，降至130万美元，这主要是由于员工人数减少和包括薪资削减在内的成本控制措施。公司计划在2025年上半年提交CTx-1301的新药申请（NDA）。管理层估计，达成CTx-1301新药申请提交时间表大约需要1200-1300万美元的额外资金。公司正在积极寻求战略药品合作伙伴关系，并探索各种融资选项，在第二季度通过认股权证行使和股票销售筹集了资金。在季度结束后，Cingulate 于2024年7月1日通过一项认股权证诱导交易收到了160万美元。
Cingulate Inc. 公布了2024年第二季度财务结果，净亏损为320万美元，较2023年第二季度的660万美元有所减少，因为研发费用下降了57.8%，降至190万美元。该公司在季度末的现金及现金等价物为40万美元。营业收入保持在零，因为公司仍在进行产品开发活动。研发成本下降主要是由于CTx-1301的临床试验活动减少，因为两个第三期儿童研究的入组在2023年末完成。一般及管理费用下降了30.5%，降至130万美元，这主要是由于员工人数减少和包括薪资削减在内的成本控制措施。公司计划在2025年上半年提交CTx-1301的新药申请（NDA）。管理层估计，达成CTx-1301新药申请提交时间表大约需要1200-1300万美元的额外资金。公司正在积极寻求战略药品合作伙伴关系，并探索各种融资选项，在第二季度通过认股权证行使和股票销售筹集了资金。在季度结束后，Cingulate 于2024年7月1日通过一项认股权证诱导交易收到了160万美元。
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