Biopharma firm Cingulate's Q3 net loss widens, misses analyst expectations

Reuters11-13

Biopharma firm Cingulate's Q3 net loss widens, misses analyst expectations

Overview

Cingulate Q3 net loss of $7.3 mln missed analyst expectations
R&D expenses rose 99.5% due to NDA submission costs for CTx-1301
FDA accepted NDA for CTx-1301 with PDUFA date of May 2026

Outlook

Company anticipates needing $7 mln additional capital before May 2026 PDUFA date
Cingulate plans potential commercialization of CTx-1301 in 2026
Cingulate has commercial supply agreement with Bend Bio Sciences for CTx-1301

Result Drivers

R&D EXPENSES - Increased due to NDA submission costs for CTx-1301 and preparation for manufacturing validation batches
G&A EXPENSES - Rise attributed to personnel costs and commercial preparation for CTx-1301 launch

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q3 Net Income	Miss	-$7.30 mln	-$3.82 mln (5 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Cingulate Inc is $20.00, about 81% above its November 12 closing price of $3.80

Press Release: ID:nGNX2Hpmpt

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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