Cingulate Completes Financing Transaction for Net Proceeds of $5,000,000
Cingulate Inc. (CING)
Company Research
Source: GlobeNewswire
KANSAS CITY, Kan., Dec. 23, 2024 (GLOBE NEWSWIRE) -- Cingulate Inc. (NASDAQ: CING), a biopharmaceutical company utilizing its proprietary Precision Timed Release™ (PTR™) drug delivery platform technology to build and advance a pipeline of next-generation pharmaceutical products, has completed a financing transaction with an accredited investor which provided net proceeds to CING of $5 million. The transaction was structured as a non-convertible, unsecured promissory note in the principal amount of $5,480,000. The promissory note accumulates interest at a rate of 9% per annum and matures 18 months after its issuance date. CING intends to use the net proceeds for working capital and other general corporate purposes. Based on planned expenditures, this additional capital provides CING the cash runway to fund clinical, manufacturing, and regulatory activities, as well as operating costs, into the fourth quarter of 2025. Filing of the NDA for potential FDA approval of CTx-1301 is target
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CING
News
- Cingulate Completes Financing Transaction for Net Proceeds of $5,000,000 [Yahoo! Finance]Yahoo! Finance
- Cingulate Inc. (NASDAQ: CING) was upgraded by analysts at Maxim Group from a "hold" rating to a "buy" rating.MarketBeat
- Cingulate Reports Third Quarter 2024 Financial Results Reflecting $19.5 Million Increase in Working Capital to Advance ADHD Drug to MarketGlobeNewswire
- Cingulate’s Shane Schaffer Joins Cast of Nationally Syndicated Big Biz ShowGlobeNewswire
CING
Sec Filings
- 12/23/24 - Form 8-K
- 11/14/24 - Form SC
- 11/7/24 - Form 10-Q
- CING's page on the SEC website