Core Insights - Cingulate Inc. has appointed three new directors to its board: Jay Roberts, Bryan Lawrence, and Jeff Ervin, enhancing its leadership team as it advances its clinical trials and business opportunities [1][2] Financial Developments - The company completed a follow-on offering of $7.5 million in February 2024 and generated $3.2 million from its at-the-market offering in January 2024 [1] - Additionally, Cingulate converted $3.3 million of outstanding debt into equity at a 10 percent premium to market [1] Directors' Backgrounds - Jay Roberts: Over 30 years in healthcare, currently a Venture Partner at DigiLife Fund II, with experience in CEO, COO, and CFO roles in various healthcare technology companies [3] - Bryan Lawrence: Nearly 25 years in pharmaceuticals, with experience in pharmacoeconomics and managed care at Novartis and Janssen, and has held significant roles in healthcare consulting [4][5] - Jeff Ervin: More than 20 years as an executive and investor, currently Chairman and CEO of IMAC Holdings, with a background in financial analysis in healthcare [6] Product and Technology Focus - Cingulate's lead candidate, CTx-1301, utilizes its proprietary Precision Timed Release™ (PTR™) platform to deliver dexmethylphenidate for ADHD treatment, aiming for optimized patient care through precise medication release [8][9] - The PTR technology is designed to achieve once-daily dosing with controlled drug release, potentially improving treatment outcomes for ADHD and anxiety disorders [9][10] Market Context - ADHD affects approximately 6.4 million children and adolescents in the U.S., with a significant portion continuing to experience symptoms into adulthood [7] - Adult ADHD prevalence is estimated at around 11 million patients, indicating a substantial market opportunity for effective treatment solutions [7]
Cingulate Appoints Jay Roberts, Bryan Lawrence, and Jeff Ervin to its Board of Directors