CING on Nasdaq

Cingulate Inc.

American pharmaceutical preparations company, incorporated in Delaware. Summary from the record

Price unavailable

Last updated Oct 19, 2026.

Overview

TickerCING on Nasdaq¹
IndustryPharmaceutical Preparations¹
HeadquartersKansas City, Kansas¹
Incorporated inDE²
Business address1901 W. 47Th Place, Kansas City, Ks 66205²
Filer category, Emerging growth company²

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These forward-looking statements include, without limitation, statements about the following:³ From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Operating income⁴⁵⁶⁷⁸-$19.9M in 2025+181% since 2020

Net income⁴⁵⁶⁷⁸-$22.4M in 2025+213% since 2020

Every line of the income statement as filed: the last 2 fiscal years, latest first.⁸

Period ending	2025-12-31	2024-12-31
Research and development	$9.8M	$9.4M
General and administrative	$10.2M	$6.2M
Operating loss	-$19.9M	-$15.6M
Issuance cost and change in fair value of derivative	-$1.2M	-$1.0M
Interest and other income (expense), net	-$1.4M	$99.2K
Loss before income taxes	-$22.4M	-$16.6M
Net loss and comprehensive loss	-$22.4M	-$16.6M
Net loss per share of common stock, basic	-$4.44	-$10.86
Net loss per share of common stock, diluted	-$4.44	-$10.86
Weighted average number of shares used in computing net loss per share of common stock, basic	5.1M shares	1.5M shares
Weighted average number of shares used in computing net loss per share of common stock, diluted	5.1M shares	1.5M shares

Total assets⁴⁵⁶⁷⁸$15.1M in 2025+160% since 2020

Total liabilities⁴⁵⁶⁷⁸$12.6M in 2025+180% since 2020

Shareholders’ equity⁴⁵⁶⁷⁸$2.5M in 2025+307% since 2019

Cash⁴⁵⁶⁷⁸$11.0M in 2025+2517% since 2019

Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.⁸

Period ending	2025-12-31	2024-12-31	2024-07-31	2023-12-31
Cash and cash equivalents	$11.0M	$12.2M
Miscellaneous receivables	$8.0K	$26.3K
Prepaid expenses and other current assets	$1.0M	$423.2K
Total current assets	$12.0M	$12.7M
Property and equipment, net	$1.7M	$2.1M
Operating lease right-of-use assets	$1.3M	$99.0K
Total assets	$15.1M	$14.9M
Accounts payable	$2.0M	$1.3M
Accrued expenses	$1.7M	$1.0M
Notes payable, current	$6.3M	$2.5M
Finance lease liability, current		$4.4K
Operating lease liability, current	$238.9K	$130.7K
Total current liabilities	$10.3M	$5.0M
Note payable	$1.2M	$2.4M
Operating lease liability, net of current	$1.1M
Total long-term liabilities	$2.3M	$2.4M
Total liabilities	$12.6M	$7.4M
Common Stock, $0.0001 par value; 240,000,000 shares authorized and 7,250,299 and 3,402,306 shares issued and outstanding as of December 31, 2025 and 2024	$725	$340
Additional Paid-in-Capital	$134.9M	$117.4M
Accumulated deficit	-$132.4M	-$109.9M
Total stockholders equity	$2.5M	$7.5M		-$6.9M
Total liabilities and stockholders equity	$15.1M	$14.9M
Common stock, par value	$0.00	$0.00	$0.00
Common stock, shares authorized	240.0M shares	240.0M shares
Common stock, shares issued	7.3M shares	3.4M shares
Common stock, shares outstanding	7.3M shares	3.4M shares
Preferred stock, par value	$0.00	$0.00
Preferred stock, shares authorized	10.0M shares	10.0M shares
Preferred stock, shares issued	0 shares	0 shares
Preferred stock, shares outstanding	0 shares	0 shares

Period ending	2025-12-31	2024-12-31	2024-07-31	2023-12-31
Cash and cash equivalents	$11.0M	$12.2M
Miscellaneous receivables	$8.0K	$26.3K
Prepaid expenses and other current assets	$1.0M	$423.2K
Total current assets	$12.0M	$12.7M
Property and equipment, net	$1.7M	$2.1M
Operating lease right-of-use assets	$1.3M	$99.0K
Total assets	$15.1M	$14.9M
Accounts payable	$2.0M	$1.3M
Accrued expenses	$1.7M	$1.0M
Notes payable, current	$6.3M	$2.5M
Finance lease liability, current		$4.4K
Operating lease liability, current	$238.9K	$130.7K
Total current liabilities	$10.3M	$5.0M
Note payable	$1.2M	$2.4M
Operating lease liability, net of current	$1.1M
Total long-term liabilities	$2.3M	$2.4M
Total liabilities	$12.6M	$7.4M
Common Stock, $0.0001 par value; 240,000,000 shares authorized and 7,250,299 and 3,402,306 shares issued and outstanding as of December 31, 2025 and 2024	$725	$340
Additional Paid-in-Capital	$134.9M	$117.4M
Accumulated deficit	-$132.4M	-$109.9M
Total stockholders equity	$2.5M	$7.5M		-$6.9M
Total liabilities and stockholders equity	$15.1M	$14.9M
Common stock, par value	$0.00	$0.00	$0.00
Common stock, shares authorized	240.0M shares	240.0M shares
Common stock, shares issued	7.3M shares	3.4M shares
Common stock, shares outstanding	7.3M shares	3.4M shares
Preferred stock, par value	$0.00	$0.00
Preferred stock, shares authorized	10.0M shares	10.0M shares
Preferred stock, shares issued	0 shares	0 shares
Preferred stock, shares outstanding	0 shares	0 shares

Cash from operations⁴⁵⁶⁷⁸-$17.2M in 2025+153% since 2020

Capital spending⁴⁵⁶⁷⁸$162.1K in 2025−60% since 2020

Free cash flow⁴⁵⁶⁷⁸-$17.4M in 2025+141% since 2020

Every line of the cash flow as filed: the last 2 fiscal years, latest first.⁸

Period ending	2025-12-31	2024-12-31
Net loss	-$22.4M	-$16.6M
Depreciation	$540.9K	$653.1K
Stock-based compensation	$1.5M	$995.5K
Accretion of discount on note payable	$326.0K
Amortization of debt issue costs	$26.5K
Loss on debt extinguishment	$806.0K
Issuance cost and change in fair value of derivative	$1.2M	$1.0M
Miscellaneous receivables	$18.3K	-$11.7K
Prepaid expenses and other current assets	-$623.7K	$88.4K
Operating lease right-of-use assets	-$1.2M	$267.9K
Trade accounts payable and accrued expenses	$1.5M	-$4.5M
Current portion of operating lease liability	$108.2K	-$227.4K
Long-term portion of operating lease liability	$1.1M	-$130.7K
Net cash used in operating activities	-$17.2M	-$18.5M
Purchase of property and equipment	-$162.1K	-$211.8K
Net cash used in investing activities	-$162.1K	-$211.8K
Proceeds from the issuance of common stock and pre-funded common stock purchase warrants, net of fees	$10.2M	$25.9M
Proceeds from notes payable	$6.0M	$5.0M
Principal payments on finance lease obligations	-$4.4K	-$17.1K
Net cash provided by financing activities	$16.1M	$30.8M
Net increase (decrease) in cash and cash equivalents	-$1.3M	$12.2M
Property and equipment accrued but not paid at end of year		$31.2K
Interest paid	$19.9K	$6.3K

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Leadership

Who has led Cingulate Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

Shane J. Schaffer2021–now

Chief financial officer

Chief operating officer

Laurie Myers2021–now

2025

Chief executive officerShane J. Schaffer Dec 7, 2021 to now¹¹
Chief financial officerJennifer L. Callahan Mar 6, 2024 to now¹²
Chief financial officerHorn Louis G. Van Dec 7, 2021 to Mar 8, 2023¹³
Chief operating officerLaurie Myers Dec 7, 2021 to now¹⁴

Board members and other officers (17)

Chief Commercial OfficerBryan Wade Downey Nov 10, 2025 to now¹⁵
EVP, GC and SecretaryCraig S. Gilgallon Nov 28, 2022 to Nov 28, 2022¹⁶
Corporate ControllerJennifer L. Callahan Dec 7, 2021 to Sep 18, 2023¹⁷
EVP & Chief Medical OfficerMatthew Brams Dec 7, 2021 to now¹⁸
EVP & Chief Science OfficerRaul R. Silva Dec 7, 2021 to now¹⁹
Board memberBryan Jay Lawrence Feb 14, 2024 to now²⁰
Board memberJeffrey S. Ervin Feb 14, 2024 to now²¹
Board memberScott Applebaum Aug 11, 2022 to Jun 20, 2023²²
Board memberCurtis Medeiros Dec 7, 2021 to Jun 20, 2023²³
Board memberGregg Wm Givens Dec 7, 2021 to Jun 20, 2023²⁴
Board memberJeffrey X. Conroy Dec 7, 2021 to Mar 1, 2022²⁵
Board memberPatrick Joseph Gallagher Dec 7, 2021 to Jun 20, 2023²⁶
Board memberPeter J. Werth Dec 7, 2021 to now²⁷
Board memberShane J. Schaffer Dec 7, 2021 to now¹¹
Board memberThomas Jeffrey Hargroves Dec 7, 2021 to now²⁸
General counselNilay Dahyabhai Patel Jul 10, 2025 to now²⁹
General counselCraig S. Gilgallon Dec 7, 2021 to Mar 8, 2023³⁰

Timeline

Dec 7, 2021New chief executive Shane J. Schaffer becomes CEO¹¹

Filings

479 filings to the SEC since October 2021: 5 annual reports, 14 quarterly reports, 99 major events, 175 insider forms, 33 large holders, 153 other. The latest 20:

Oct 2, 20264 EDGAR
Oct 2, 20268-K EDGAR
Aug 13, 202610-Q EDGAR
Aug 13, 20268-K EDGAR
Jul 23, 20268-K EDGAR
Jul 20, 20264 EDGAR
Jul 20, 20264 EDGAR
Jul 20, 20264 EDGAR
Jul 20, 20264 EDGAR
Jul 20, 20264 EDGAR
Jul 20, 20264 EDGAR
Jul 20, 20264 EDGAR
Jul 20, 20264 EDGAR
Jul 15, 2026S-8 EDGAR
Jul 14, 20268-K EDGAR
Jul 2, 20264 EDGAR
Jul 2, 20268-K EDGAR
Jun 16, 20268-K EDGAR
Jun 8, 20264 EDGAR
Jun 8, 20263 EDGAR

The 479 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

40 open-market trades by officers, directors and large owners since October 2021: 38 buys and 2 sales. Grants, option exercises and gifts are left out.

Date	Who	Trade	Shares	Price	Value	Filing
Feb 13, 2026	Hargroves Thomas JeffreyDirector	Buy	97,276	$5.04	$490.3K	Form 4
Feb 6, 2026	Werth Peter J.Director	Buy	19,455	$5.04	$98.1K	Form 4
Feb 6, 2026	Callahan Jennifer L.EVP and CFO	Buy	4,864	$5.04	$24.5K	Form 4
Feb 6, 2026	Schaffer Shane J.Chief Executive Officer	Buy	6,809	$5.04	$34.3K	Form 4
Feb 6, 2026	Brams MatthewEVP and Chief Medical Officer	Buy	1,946	$5.04	$9.8K	Form 4
Aug 15, 2024	Myers LaurieEVP and COO	Sale	202	$4.17	$842	Form 4
Sep 15, 2023	Callahan Jennifer L.EVP and CFO	Buy	5,000	$0.67	$3.4K	Form 4
Aug 11, 2023	Werth Peter J.Director	Buy	1,823,155	$0.55	$1.0M	Form 4
May 15, 2023	Callahan Jennifer L.EVP and CFO	Buy	2,000	$1.01	$2.0K	Form 4
May 12, 2023	Callahan Jennifer L.EVP and CFO	Buy	4,000	$1.08	$4.3K	Form 4
Dec 16, 2022	Schaffer Shane J.Chief Executive Officer	Buy	10,000	$1.02	$10.2K	Form 4
Dec 14, 2022	Schaffer Shane J.Chief Executive Officer	Buy	13,267	$1.01	$13.4K	Form 4
Dec 14, 2022	Callahan Jennifer L.EVP and CFO	Buy	7,548	$0.99	$7.5K	Form 4
Dec 13, 2022	Schaffer Shane J.Chief Executive Officer	Buy	1,733	$1.01	$1.8K	Form 4
Dec 13, 2022	Werth Peter J.Director	Buy	28,934	$0.98	$28.4K	Form 4
Nov 29, 2022	Callahan Jennifer L.EVP and CFO	Buy	1,530	$0.98	$1.5K	Form 4
Nov 28, 2022	Callahan Jennifer L.EVP and CFO	Buy	3,487	$0.98	$3.4K	Form 4
Nov 23, 2022	Myers LaurieEVP and COO	Buy	1,111	$0.90	$1.0K	Form 4
Nov 23, 2022	Gilgallon Craig S.EVP and General Counsel	Buy	3,575	$0.84	$3.0K	Form 4
Nov 22, 2022	GIVENS GREGG WMDirector	Buy	85,000	$0.88	$74.8K	Form 4

All 40 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Falcon Creek Capital Advisor LLCSCHEDULE 13D/A, 2 filings Feb 9, 2026 to Mar 26, 2026³¹
Lind Global Fund II LPSC 13G/A, 2 filings Feb 9, 2024 to Nov 14, 2024³²
Peter J. WerthSC 13D/A, 18 filings Dec 20, 2021 to Aug 30, 2024³³
Shane J. SchafferSC 13D/A, 5 filings Dec 20, 2021 to Jan 4, 2024³⁴
Matthew BramsSC 13G/A, 3 filings Feb 14, 2022 to Jul 25, 2023³⁵
SABBY MANAGEMENT, LLCSC 13G/A, 3 filings Dec 14, 2021 to Jan 10, 2023³⁶

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 32. Change is in shares since the quarter before.

Fund	Shares	Value	Share of the fund	Change
Vanguard Capital Management LLC	570,873	$3.1M	0.0%	+261,906
Raymond James Financial Inc	166,898	$912.9K	0.0%	New
Chicago Partners Investment Group LLC	188,429	$912.0K	0.0%	+169,679
Kestra Advisory Services, LLC	151,500	$828.7K	0.0%	+11,500
Geode Capital Management, LLC	144,636	$791.4K	0.0%	+43,263
Renaissance Technologies LLC	127,500	$697.4K	0.0%	+95,612
Vanguard Fiduciary Trust Co	79,160	$433.0K	0.0%	+29,086
BlackRock, Inc.	53,130	$290.6K	0.0%	+29,861
BCV Asset Management Inc.	51,200	$272.9K	0.0%	No change
State Street Corp	47,888	$261.9K	0.0%	+20,300
Northern Trust Corp	35,121	$192.1K	0.0%	+12,849
Quantum Private Wealth, LLC	30,000	$164.1K	0.0%	+20,000
Prospera Financial Services Inc	29,900	$163.6K	0.0%	+8,100
Jane Street Group, LLC	28,878	$158.0K	0.0%	−61,989
UBS Group AG	25,947	$141.9K	0.0%	+14,914
Mariner, LLC	21,281	$116.4K	0.0%	+8,351
XTX Topco Ltd	20,818	$113.9K	0.0%	−32,685
Jump Financial, LLC	14,638	$80.1K	0.0%	New
PKS Advisory Services, LLC	11,500	$62.9K	0.0%	New
Vanguard Global Advisers, LLC	4,743	$25.9K	0.0%	No change
Morgan Stanley	4,263	$23.3K	0.0%	+1,863
Osaic Holdings, Inc.	2,292	$12.5K	0.0%	+2,250
IFP Advisors, Inc	2,000	$10.9K	0.0%	New
Jones Financial Companies Lllp	2,000	$9.9K	0.0%	New
Barclays PLC	1,566	$8.6K	0.0%	New

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARCingulate Inc. filings on SEC EDGAR
2
SEC EDGARCingulate Inc. filings on SEC EDGAR
3
SEC EDGARCingulate Inc. annual report, Item 1 (Business)
4
SEC EDGARCingulate Inc. 10-K for fiscal 2020
5
SEC EDGARCingulate Inc. 10-K for fiscal 2021
6
SEC EDGARCingulate Inc. 10-K for fiscal 2022
7
SEC EDGARCingulate Inc. 10-K for fiscal 2023
8
SEC EDGARCingulate Inc. 10-K for fiscal 2024
9
SEC EDGARCingulate Inc. 10-Q for fiscal 2026
10
SEC EDGARCingulate Inc. 10-Q for fiscal 2026
11
SEC EDGARShane J. Schaffer, Chief executive officer
12
SEC EDGARJennifer L. Callahan, Chief financial officer
13
SEC EDGARHorn Louis G. Van, Chief financial officer
14
SEC EDGARLaurie Myers, Chief operating officer
15
SEC EDGARBryan Wade Downey, Chief Commercial Officer
16
SEC EDGARCraig S. Gilgallon, EVP, GC and Secretary
17
SEC EDGARJennifer L. Callahan, Corporate Controller
18
SEC EDGARMatthew Brams, EVP & Chief Medical Officer
19
SEC EDGARRaul R. Silva, EVP & Chief Science Officer
20
SEC EDGARBryan Jay Lawrence, Board member
21
SEC EDGARJeffrey S. Ervin, Board member
22
SEC EDGARScott Applebaum, Board member
23
SEC EDGARCurtis Medeiros, Board member
24
SEC EDGARGregg Wm Givens, Board member
25
SEC EDGARJeffrey X. Conroy, Board member
26
SEC EDGARPatrick Joseph Gallagher, Board member
27
SEC EDGARPeter J. Werth, Board member
28
SEC EDGARThomas Jeffrey Hargroves, Board member
29
SEC EDGARNilay Dahyabhai Patel, General counsel
30
SEC EDGARCraig S. Gilgallon, General counsel
31
SEC EDGARFalcon Creek Capital Advisor LLC SCHEDULE 13D/A on Cingulate Inc.
32
SEC EDGARLind Global Fund II LP SC 13G/A on Cingulate Inc.
33
SEC EDGARPeter J. Werth SC 13D/A on Cingulate Inc.
34
SEC EDGARShane J. Schaffer SC 13D/A on Cingulate Inc.
35
SEC EDGARMatthew Brams SC 13G/A on Cingulate Inc.
36
SEC EDGARSABBY MANAGEMENT, LLC SC 13G/A on Cingulate Inc.