Cingulate posts wider Q2 loss as SG&A spending more than doubles

Cingulate Inc. (NASDAQ: CING) reported a net loss of $5.9 million for the second quarter ended June 30, 2026, compared with a net loss of $5.0 million in the same period a year earlier, according to a company press release.

Selling, general and administrative expenses rose 101.5% to $3.9 million in the quarter from $1.9 million a year ago, driven by commercialization preparations including expanded market access and medical affairs activity. Research and development expenses fell 44.9% to $1.5 million from $2.7 million, reflecting lower clinical operations costs following the conclusion of clinical study activities in early 2025.

For the six months ended June 30, 2026, net loss widened to $15.2 million from $8.8 million in the prior-year period. SG&A expenses for the first half totaled $9.7 million, up 181.7% from $3.4 million.

Cash and cash equivalents stood at $28.4 million as of June 30, 2026, up from $11.0 million at December 31, 2025. The increase reflects a $12.0 million private placement in the first quarter and $19.0 million raised through an at-the-market agreement and a purchase agreement, partially offset by $12.8 million used in operations. The company said it expects its cash to fund operations into mid-2027.

The FDA issued a Complete Response Letter for Cingulate's CTx-1301 NDA on June 1, 2026, citing requests for additional chemistry, manufacturing and controls information without raising clinical safety or efficacy concerns. The company said it is working with manufacturing partner Bend Bioscience to complete the requested work and plans to resubmit the NDA as soon as practicable.

On June 16, 2026, the U.S. Patent and Trademark Office issued U.S. Patent No. 12,653,791 covering CTx-1301, providing protection through December 2042. Cingulate also signed an exclusive distribution agreement with Prasco, LLC on July 21, 2026, to establish commercial distribution infrastructure for CTx-1301, contingent on FDA approval.

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