Cingulate (CING) Q4 2025 earnings summary

Executive summary

• Reported fourth quarter and full year 2025 financial results, highlighting regulatory, operational, and financial milestones.

• Achieved key inflection points in 2025, including patent advancements, NDA acceptance, and commercial readiness progress.

• Strengthened financial position with a $12 million private placement and extended cash runway into late Q4 2026.

Financial highlights

• Net loss for Q4 2025 was $6.3 million, compared to $6.2 million in Q4 2024; full year net loss was $22.4 million, up from $16.6 million in 2024.

• R&D expenses for Q4 2025 were $2.0 million (down from $4.3 million in Q4 2024); full year R&D was $9.8 million, up from $9.4 million in 2024.

• G&A expenses for Q4 2025 were $3.6 million (up from $1.9 million in Q4 2024); full year G&A was $10.2 million, up from $6.2 million in 2024.

• Cash and cash equivalents stood at $11.0 million as of December 31, 2025, a decrease of $1.3 million from the prior year.

Outlook and guidance

• Current cash is expected to fund operations into late Q4 2026, supporting regulatory and pre-commercialization activities.

• Pending FDA review of CTx-1301 NDA, with a PDUFA target action date of May 31, 2026.

• Commercial launch preparations underway, contingent on regulatory approval.