Why Is Neurology Focused Cingulate Stock Trading Higher Today?
Portfolio Pulse from Vandana Singh
Cingulate Inc (CING) saw its stock trading higher after receiving FDA guidance for its ADHD drug candidate CTx-1301. The company plans to submit an NDA in 1H 2025 using Novartis AG's (NVS) Focalin XR as a reference. Cingulate has stopped enrollment in two Phase 3 studies and will update its Pediatric Study Plan. It requires $17M-$21M to file the NDA, less than expected. Cingulate is also planning to initiate clinical plans for CTx-1302 and may develop CTx-2103 for anxiety, pending additional capital. The company is addressing Nasdaq compliance issues due to board member resignations and will present a plan at a hearing in February 2024. CING shares surged 174.2% to $10.94.
December 28, 2023 | 2:50 pm
News sentiment analysis
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NEUTRAL IMPACT
Novartis AG's Focalin XR is being used as the reference drug for Cingulate's NDA submission for CTx-1301, which could bring attention to Novartis' product but has a neutral impact on its stock.
While Novartis' product is mentioned as a reference for Cingulate's NDA submission, this news does not directly affect Novartis' operations or financials and is therefore neutral for its stock in the short term.
CONFIDENCE 75
IMPORTANCE 30
RELEVANCE 50
POSITIVE IMPACT
Cingulate Inc's stock rose sharply after receiving FDA guidance for its ADHD drug candidate, indicating progress in its development pipeline. The company also announced a lower-than-expected capital requirement for NDA filing.
The positive FDA guidance and reduced capital requirement for NDA filing are significant developments for Cingulate, likely to boost investor confidence and drive short-term stock price appreciation.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100