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On Monday, Cingulate Inc., a pharmaceutical company based in Kansas City, Kansas, announced the approval of an amendment to increase the number of shares in its equity incentive plan. The company, currently valued at $21.02 million, has shown strong recent momentum with a 16.75% return over the past week, according to InvestingPro data. The amendment, which was approved by stockholders at the Annual Meeting on June 10, 2025, adds 800,000 shares to the plan, bringing the total authorized shares to 1,141,826.
The approval came during the company’s 2025 Annual Meeting of Stockholders, where several key proposals were voted upon. Alongside the equity plan expansion, stockholders elected Peter J. Werth as a Class I director, ratified the appointment of KPMG LLP as the company’s independent auditor for the year ending December 31, 2025, and adopted an amendment to effect a reverse stock split of the company’s issued common stock.
The reverse stock split, which can be executed at a ratio ranging from one-for-two to one-for-twenty-five, will be at the discretion of the Board of Directors any time before the one-year anniversary of the Annual Meeting, without further stockholder approval. This decision comes as the stock trades at $4.95, significantly below its 52-week high of $20.83, though it has shown recent strength with a 15.65% return over the past six months.
Additionally, the stockholders authorized the adjournment of the Annual Meeting to a later date if necessary to solicit further votes. However, this was deemed unnecessary as there were sufficient votes at the time of the Annual Meeting to approve each proposal.
The details of the amendment to the equity plan are included in Exhibit 10.1 of the Form 8-K filed with the SEC. The report also mentions the updated trading symbols for the company’s common stock (CING) and warrants (CINGW) on The Nasdaq Stock Market LLC.
Cingulate Inc., identified by the Central Index Key (CIK) number 0001862150, is incorporated in Delaware and operates under the SIC code 2834, which corresponds to pharmaceutical preparations.
This news is based on the recent 8-K filing by Cingulate Inc. with the Securities and Exchange Commission.
In other recent news, Cingulate Inc. has announced its plans to submit a New Drug Application (NDA) for its ADHD treatment candidate, CTx-1301, during the upcoming summer. This follows feedback from the U.S. Food and Drug Administration (FDA) after a formal pre-NDA meeting. The FDA has agreed on a post-NDA approval commitment for additional stability data and indicated that CTx-1301 may rely on the efficacy and safety data of the listed drug, Focalin XR. Cingulate’s proprietary Precision Timed Release™ technology aims to provide once-daily dosing, addressing the challenge of providing an entire active-day duration for ADHD treatment. The company recently released Phase 3 safety data for CTx-1301, maintaining a consistent safety profile across nine clinical trials. Cingulate plans to include a final analysis combining adult and pediatric safety and efficacy data in the NDA submission. The company is also exploring the use of its technology for other therapeutic areas, such as anxiety disorders. These developments mark a significant step forward in Cingulate’s regulatory process for CTx-1301.
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