Revenue: As of FY2026 Q1, the actual value is USD 0.

Financial Performance for the Three Months Ended March 31, 2026

Cash and Working Capital

• Cash and cash equivalents: Cingulate Inc. reported $25,893,210 as of March 31, 2026, an increase from $10,953,383 as of December 31, 2025, primarily due to $14.9 million raised in the first quarter, including a $12.0 million private placement .
• Working Capital: The company’s working capital increased to $16,952,085 as of March 31, 2026, compared to $1,695,633 as of December 31, 2025 .

Operating Expenses

• Research and Development (R&D) Expenses: R&D expenses were $2,184,318 for the three months ended March 31, 2026, marking a 1.8% decrease from $2,222,626 for the same period in 2025 . This decrease was attributed to lower clinical operations costs, partially offset by increased regulatory and manufacturing activities for the CTx-1301 NDA review .
• General and Administrative (G&A) Expenses: G&A expenses rose to $5,738,904 for the three months ended March 31, 2026, up from $1,483,409 for the same period in 2025, mainly due to costs associated with building out commercial infrastructure for CTx-1301 .

Profitability

• Operating Loss: The operating loss for the three months ended March 31, 2026, was -$7,923,222, compared to -$3,706,035 for the same period in 2025 .
• Net Loss: Cingulate Inc. reported a net loss of -$9,312,089 for the three months ended March 31, 2026, an increase from -$3,852,678 for the three months ended March 31, 2025 . This higher net loss resulted from increased G&A expenses and changes in the fair value of derivatives and interest on notes payable .
• Change in fair value of derivative: The change in fair value of derivative was -$852,030 for Q1 2026, compared to -$49,987 for Q1 2025 .
• Interest and other income (expense), net: This figure was -$536,837 for Q1 2026, compared to -$96,656 for Q1 2025 .
• Loss before income taxes: The loss before income taxes was -$9,312,089 for Q1 2026, compared to -$3,852,678 for Q1 2025 .

Balance Sheet Highlights (as of March 31, 2026)

• Total assets: Total assets stood at $30,861,701 .
• Total liabilities: Total liabilities were $11,996,835 .
• Accumulated deficit: The accumulated deficit was -$141,687,120 .
• Total stockholders’ equity: Total stockholders’ equity was $18,864,866 .

Outlook and Guidance

Cingulate Inc. anticipates its current resources will provide an extended cash runway into 2027, funding operations and supporting key milestones for CTx-1301 . The company is actively engaging with the FDA regarding its CTx-1301 New Drug Application (NDA), which has a PDUFA target action date of May 31, 2026 . Cingulate Inc. is also advancing commercialization preparations to enable a rapid launch contingent upon FDA approval .