Stonegate Capital Partners Updates Coverage on Cingulate Inc. (CING) 3Q25

Core Insights - Cingulate Inc. is making significant progress in transforming CTx-1301 into a commercial ADHD franchise, with key milestones achieved [1][5] - The FDA has accepted the NDA for CTx-1301, with a PDUFA date set for May 31, 2026, indicating a potential launch in 2026 pending approval [5] - The company has secured a commercial supply agreement with Bend Bio Sciences to ensure U.S. manufacturing capacity ahead of the product launch [1][5] Financial Position - As of the end of the quarter, Cingulate reported approximately $6.1 million in cash [5] - A $6 million financing post-quarter has extended the company's runway into the second quarter of 2026 [5] Commercial Strategy - The commercial build is advancing with the appointment of Bryan Downey as Chief Commercial Officer [5] - Partnerships with Indegene and Bend Bio Sciences are part of the strategy to secure manufacturing and commercial capabilities [5]