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10-Q: Q3 2024 Earnings Report

10-Q: Q3 2024 Earnings Report

10-Q:2024财年三季报
美股SEC公告 ·  2024/11/07 20:58

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Cingulate Inc. reported Q3 2024 financial results with a net loss of $3.2 million, compared to $6.0 million in Q3 2023. Research and development expenses decreased 63.6% to $1.4 million, primarily due to reduced clinical trial activity following the closure of two Phase 3 CTx-1301 studies. The company ended the quarter with $10.0 million in cash and cash equivalents.The company is progressing with the remaining clinical requirements for CTx-1301, its lead ADHD treatment candidate, and targeting an NDA submission in mid-2025. In September 2024, Cingulate initiated a food effect study utilizing CTx-1301's highest dosage strength, which is expected to be completed by year-end. The company was also issued a European patent for CTx-1301 in August 2024.Management believes current cash will fund operations into Q3 2025 under the existing business plan. The company continues to pursue additional funding through various means, including strategic partnerships and capital markets. During Q3 2024, Cingulate raised significant capital through ATM sales and Lincoln Park agreements, generating combined net proceeds of approximately $11.9 million.
Cingulate Inc. reported Q3 2024 financial results with a net loss of $3.2 million, compared to $6.0 million in Q3 2023. Research and development expenses decreased 63.6% to $1.4 million, primarily due to reduced clinical trial activity following the closure of two Phase 3 CTx-1301 studies. The company ended the quarter with $10.0 million in cash and cash equivalents.The company is progressing with the remaining clinical requirements for CTx-1301, its lead ADHD treatment candidate, and targeting an NDA submission in mid-2025. In September 2024, Cingulate initiated a food effect study utilizing CTx-1301's highest dosage strength, which is expected to be completed by year-end. The company was also issued a European patent for CTx-1301 in August 2024.Management believes current cash will fund operations into Q3 2025 under the existing business plan. The company continues to pursue additional funding through various means, including strategic partnerships and capital markets. During Q3 2024, Cingulate raised significant capital through ATM sales and Lincoln Park agreements, generating combined net proceeds of approximately $11.9 million.
Cingulate Inc. 报告了2024年第三季度的财务结果,净亏损为320万美元,较2023年第三季度的600万美元有所减少。研发费用减少了63.6%,降至140万美元,主要是由于在关闭两项第3阶段的CTx-1301研究后,临床试验活动减少。公司在本季度末拥有1000万美元的现金及现金等价物。公司正在推进其主要ADHD治疗候选药物CTx-1301剩余的临床要求,计划在2025年中期提交新药申请(NDA)。在2024年9月,Cingulate启动了一项食品效应研究,利用CTx-1301的最高剂量,预计将在年底前完成。公司还在2024年8月获得了CTx-1301的欧洲专利。管理层认为,现有现金将能支持公司运营至2025年第三季度,基于现行业务计划。公司继续通过多种方式寻求额外资金,包括战略伙伴关系和资本市场。2024年第三季度,Cingulate通过ATM销售和Lincoln Park协议筹集了大量资本,净收益合计约为1190万美元。
Cingulate Inc. 报告了2024年第三季度的财务结果,净亏损为320万美元,较2023年第三季度的600万美元有所减少。研发费用减少了63.6%,降至140万美元,主要是由于在关闭两项第3阶段的CTx-1301研究后,临床试验活动减少。公司在本季度末拥有1000万美元的现金及现金等价物。公司正在推进其主要ADHD治疗候选药物CTx-1301剩余的临床要求,计划在2025年中期提交新药申请(NDA)。在2024年9月,Cingulate启动了一项食品效应研究,利用CTx-1301的最高剂量,预计将在年底前完成。公司还在2024年8月获得了CTx-1301的欧洲专利。管理层认为,现有现金将能支持公司运营至2025年第三季度,基于现行业务计划。公司继续通过多种方式寻求额外资金,包括战略伙伴关系和资本市场。2024年第三季度,Cingulate通过ATM销售和Lincoln Park协议筹集了大量资本,净收益合计约为1190万美元。
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