Cingulate (CING) Q2 2026 earnings summary

Executive summary

• Focused on developing once-daily, multi-dose therapies for ADHD and anxiety using proprietary drug delivery technology; lead candidate CTx-1301 is in late-stage development and pending regulatory approval.

• Advanced CMC work for CTx-1301 NDA resubmission following FDA Complete Response Letter; no clinical safety or efficacy concerns raised by FDA.

• Commercial readiness initiatives underway, including manufacturing, distribution, and market access partnerships.

• No product candidates approved or revenue generated to date; operations funded through equity and debt, with $160.4 million raised since inception.

• Cash and cash equivalents of $28.4 million as of June 30, 2026, expected to fund operations into mid-2027.

Financial highlights

• Net loss for Q2 2026 was $5.9 million, compared to $5.0 million in Q2 2025; net loss for the six months ended June 30, 2026 was $15.2 million, up from $8.8 million year-over-year.

• Operating loss for Q2 2026 was $5.4 million, up 16.5% from Q2 2025; six-month operating loss was $13.3 million, up 59.6% year-over-year.

• Research and development expenses decreased 44.9% to $1.5 million in Q2 2026 due to lower clinical operations and regulatory costs; SG&A expenses increased 101.5% to $3.9 million, driven by commercialization readiness.

• Cash used in operating activities was $12.8 million for the first half of 2026, compared to $9.4 million in the prior year period.

• Working capital increased to $21.6 million from $1.7 million at year-end 2025.

Outlook and guidance

• Cash runway expected into mid-2027, covering CMC work for CTx-1301 NDA resubmission and commercial launch preparations if approved.

• Additional capital will be needed for further development programs and to support long-term growth; exploring equity, debt, and strategic transactions.

• Plans to resubmit CTx-1301 NDA as soon as practicable; timing of approval remains uncertain.