CING - Cingulate stock slumps ~15% on commercialization pact for ADHD drug CTx-1301

2023-03-13 09:14:08 ET

• Cingulate ( NASDAQ: CING ) signed a joint commercialization agreement with Indegene for its lead drug candidate CTx-1301 to treat attention deficit/hyperactivity disorder (ADHD).
• Cingulate said the agreement spans cross-functional services via an omnichannel marketing approach aimed at successfully managing pre-commercial support during its phase 3 trials and to commercialize CTx-1301 nationwide, after a potential FDA approval of the drug
• The company noted that it recently started the first phase 3 trial of CTx-1301 and expects results Q3 2023.
• Cingulate also plans to begin a phase 3 trial trial in pediatric and adolescent patients with ADHD in mid-2023.
• "We believe Indegene provides a comprehensive solution combining sales professionals and field medical personnel, and its AI-driven omnichannel marketing suite is unparrellled in the industry," said Cingulate Chairman and CEO Shane Schaffer. "Additionally, this allows Cingulate to focus on clinical development by reducing the internal resources and risks associated with building out these functional areas."
• CING -18.38% to $1.51 premarket March 13

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