Cingulate Inc (CING) AI Stock Analysis

• Market Cap: $34.33M
• Dividend Yield: N/A
• Average Volume (3M): 190.99K
• Price to Earnings (P/E): ―
• Beta (1Y): 5.60
• Revenue Growth: N/A
• EPS Growth: 93.84%
• Country: US
• Employees: 13
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -1.35
• Shares Outstanding: 6,757,070
• 10 Day Avg. Volume: 270,731
• 30 Day Avg. Volume: 190,985
• PEG Ratio: 0.01
• Price to Book (P/B): 2.52
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -1.01
• Enterprise Value/Market Cap: -137.02
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: 8.12K
• Enterprise Value/Ebitda: 218.91
• 1Y Price Target: $27.33
• Price Target Upside: 437.99% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 52 Neutral
• Price Target: $4.00 ▼(-21.26% Downside)

The score is held back mainly by weak financial performance (pre-revenue, widening losses, and persistent cash burn). Offsetting this are meaningful positive corporate milestones (FDA NDA acceptance and added financing) and a modestly constructive technical picture, while valuation is difficult to support due to negative earnings and no dividend.

Positive Factors

FDA NDA Acceptance

FDA acceptance of the NDA for CTx-1301 is a critical step towards commercialization, potentially transforming Cingulate from a development-stage to a commercial-stage company.

Strategic Manufacturing Partnership

The partnership ensures manufacturing security and operational efficiency, crucial for scaling production upon FDA approval, supporting long-term market entry.

Phase 3 Trial Success

Positive Phase 3 results validate the efficacy of CTx-1301, strengthening its case for FDA approval and enhancing its competitive position in the ADHD treatment market.

Negative Factors

Pre-Revenue Status

Being pre-revenue with significant losses indicates reliance on external funding, posing risks to financial sustainability and increasing dilution risk for shareholders.

Cash Burn

Sustained cash burn without offsetting revenue strains financial resources, necessitating additional capital raises and potentially impacting long-term viability.

Shrinking Equity

Shrinking equity, despite improved leverage, limits financial flexibility and can hinder the company's ability to invest in growth opportunities or weather financial downturns.

Cingulate Inc Business Overview & Revenue Model

Company Description

Cingulate Inc., a clinical-stage biopharmaceutical company, focuses on the development of product candidates for the treatment of attention-deficit/hyperactivity disorder. The company's lead product candidates are CTx-1301 (dexmethylphenidate), which is in phase 3 clinical trial, and CTx-1302 (dextroamphetamine) for the treatment of attention-deficit/hyperactivity disorders. It also focuses on developing CTx-2103 for the treatment of anxiety disorders. The company was founded in 2012 and is headquartered in Kansas City, Kansas.

How the Company Makes Money

Cingulate Inc. generates revenue through the research, development, and eventual commercialization of its proprietary drug formulations. The company focuses on advancing its product candidates through clinical trials and obtaining regulatory approvals, which would enable them to market these drugs to healthcare providers and patients. Revenue streams are expected to include sales of approved medications, licensing agreements, and potential partnerships with other pharmaceutical companies. Additionally, Cingulate may engage in collaborative research arrangements that provide funding and milestone payments, contributing to its financial inflows.

Cingulate Inc Financial Statement Overview

Summary

Cingulate Inc. faces significant financial challenges with no revenue, persistent losses, and negative cash flows. The lack of debt is a positive aspect, but zero equity and dependency on external funding highlight financial instability.

Income Statement

Cingulate Inc. has consistently reported zero revenue across the years, indicating no sales or commercialization activities. The company is experiencing significant losses, with negative EBIT and Net Income frequently worsening year over year. There is no revenue growth, and both EBIT and EBITDA margins are negative, highlighting operational inefficiencies and financial distress.

Balance Sheet

The company has no debt as of the latest report, which is a positive aspect. However, the stockholders' equity is zero, indicating a lack of financial cushion. Historical data shows negative equity in some years, highlighting financial instability. The absence of liabilities may be misleading due to the lack of assets compared to the company’s size and industry norms.

Cash Flow

Operating cash flow is consistently negative, reflecting ongoing cash burn without revenue generation. The free cash flow is also negative, indicating that the company is not generating sufficient cash to cover its operational needs. There is no growth in free cash flow, and the heavy reliance on financing cash flow suggests dependency on external funding to sustain operations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-579.36K	-653.09K	-582.92K	-621.99K	-808.44K	-842.35K
EBITDA	-21.49M	-14.89M	-22.95M	-17.05M	-19.87M	-6.29M
Net Income	-22.06M	-15.55M	-23.53M	-17.68M	-20.74M	-7.18M
Balance Sheet
Total Assets	10.52M	14.86M	3.49M	11.41M	22.89M	5.79M
Cash, Cash Equivalents and Short-Term Investments	6.12M	12.21M	52.42K	5.36M	16.49M	1.20M
Total Debt	4.58M	5.10M	3.51M	5.87M	1.19M	2.05M
Total Liabilities	7.05M	7.41M	10.36M	7.52M	2.04M	4.50M
Stockholders Equity	3.47M	7.46M	-6.87M	3.88M	20.84M	1.29M
Cash Flow
Free Cash Flow	-17.93M	-18.66M	-15.26M	-16.04M	-11.25M	-7.21M
Operating Cash Flow	-17.73M	-18.45M	-15.03M	-15.88M	-10.43M	-6.81M
Investing Cash Flow	-204.39K	-211.80K	-224.10K	-152.65K	-814.74K	-384.17K
Financing Cash Flow	14.01M	30.82M	9.95M	4.90M	26.54M	7.97M

Cingulate Inc Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 5.08
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CING, the sentiment is Positive. The current price of 5.08 is above the 20-day moving average (MA) of 4.26, above the 50-day MA of 3.91, and above the 200-day MA of 4.11, indicating a bullish trend. The MACD of 0.26 indicates Negative momentum. The RSI at 73.53 is Negative, neither overbought nor oversold. The STOCH value of 80.62 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CING.

Cingulate Inc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CING	52 Neutral	$34.33M	-0.96	-284.50%	―	―	93.84%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
BOLD	45 Neutral	$29.33M	-0.47	-44.88%	―	―	-0.50%
BGMS	44 Neutral	$6.71M	-0.02	-226.28%	10.27%	9.46%	96.85%
FBLG	44 Neutral	$21.95M	-0.69	-1292.87%	―	―	18.47%
NNVC	43 Neutral	$26.10M	-2.38	-94.03%	―	―	32.92%
ENLV	43 Neutral	$198.90M	-1.57	-57.64%	―	―	46.09%

Cingulate Inc Corporate Events

Cingulate continues stock-for-debt exchanges to reduce liabilities

Between November 21, 2025 and January 2, 2026, Cingulate Inc. issued multiple tranches of common stock to a lender in exchange for portions of outstanding debt, with share prices ranging from $3.39 to $4.13. The unregistered stock-for-debt exchanges reduce the company’s debt load but dilute existing shareholders, reflecting an ongoing effort to manage its capital structure without raising new cash in the public markets.

The most recent analyst rating on (CING) stock is a Hold with a $4.00 price target. To see the full list of analyst forecasts on Cingulate Inc stock, see the CING Stock Forecast page.

Cingulate Inc Reinstates Shane Schaffer as CEO

Cingulate Inc. announced that as of December 15, 2025, Shane Schaffer has been reinstated as Chief Executive Officer after being placed on administrative leave due to a personal legal matter. The board of directors had previously appointed John A. Roberts as Executive Chairman and Jennifer Callahan as interim CEO during Schaffer’s leave. With Schaffer’s return, Roberts will continue as Chairman and Callahan will remain as CFO. The company also amended Schaffer’s employment agreement, adjusting terms related to termination and salary.

The most recent analyst rating on (CING) stock is a Buy with a $16.00 price target. To see the full list of analyst forecasts on Cingulate Inc stock, see the CING Stock Forecast page.

Cingulate Inc Signs Note Purchase Agreement with Avondale

On November 7, 2025, Cingulate Inc. entered into a Note Purchase Agreement with Avondale Capital, LLC, issuing a $6,570,000 promissory note to strengthen its cash position, with the proceeds intended for working capital and general corporate purposes. Additionally, Cingulate announced the appointment of Bryan Downey as Chief Commercial Officer to lead the launch preparation for CTx-1301, following the FDA’s acceptance of its New Drug Application, marking a significant step towards commercialization, pending FDA approval.

The most recent analyst rating on (CING) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on Cingulate Inc stock, see the CING Stock Forecast page.

Cingulate Inc’s NDA for CTx-1301 Accepted by FDA

On October 14, 2025, Cingulate Inc. announced that the FDA has accepted the New Drug Application for CTx-1301, a treatment for ADHD in children and adults, with a target action date set for May 31, 2026. This acceptance marks a significant regulatory milestone for Cingulate, as it transitions from a development-stage to a commercial-stage company, pending FDA approval. The NDA acceptance follows successful Phase 3 trials demonstrating CTx-1301’s efficacy and safety, and positions the company for potential market entry, supported by strategic partnerships for manufacturing and commercialization.

The most recent analyst rating on (CING) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on Cingulate Inc stock, see the CING Stock Forecast page.