--- title: "Cingulate delays quarterly report after management changes" url: "https://aibio.space/news/cingulate-delays-quarterly-report-after-management-changes/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-08-15" section: "Distress" tickers: "NASDAQ:CING" source: "https://www.sec.gov/Archives/edgar/data/1862150/000164117225024288/formnt10-q.htm" summary: "Cingulate filed a late-filing notice for its report on the quarter ended June 30, 2025. It expects to file within the five-day extension period." --- By the aibio.space news desk. Sources - [Cingulate Inc. NT 10-Q (2025-08-15)](https://www.sec.gov/Archives/edgar/data/1862150/000164117225024288/formnt10-q.htm) - [Cingulate Inc. 10-K (2025-03-27): business](https://www.sec.gov/Archives/edgar/data/1862150/000164117225000970/form10-k.htm) [CING](https://aibio.space/companies/cingulate/) 2025-08-15 # Cingulate delays quarterly report after management changes Tickers [CING](https://aibio.space/companies/cingulate/) Cingulate filed a late-filing notice for its report on the quarter ended June 30, 2025. It expects to file within the five-day extension period. ## Key facts - **Company**: Cingulate Inc. (NASDAQ: CING) - **News type**: Distress - **Primary source**: [Cingulate Inc. NT 10-Q (2025-08-15)](https://www.sec.gov/Archives/edgar/data/1862150/000164117225024288/formnt10-q.htm) *A supreme court building with lit columns. CC0, via rawpixel. The picture shows the field, not the companies named.* ## The late filing Cingulate Inc. told the Securities and Exchange Commission on August 15, 2025 that it could not file its quarterly report on Form 10-Q for the quarter ended June 30, 2025 on time. The company filed a Form 12b-25 notification of late filing, which Rule 12b-25 allows a company to use when a periodic report cannot be filed without unreasonable effort or expense. The rule gives a quarterly report a five calendar day extension once the notice is filed. The company's narrative says it needs more time to complete its review of the financial statements for the quarter. It attributes the delay to recent changes in its management, which it says are described in a Current Report on Form 8-K filed on the same day. The notice does not say who left, who joined or what the changes mean for the review. The company says it plans to file the 10-Q as soon as practicable and within the extension period. The notice also says the company has filed all other periodic reports required over the preceding 12 months, and that it does not expect a significant change in results from the same period last year. ## Management and the signer The notice is signed by Jennifer L. Callahan, whose title is Interim Chief Executive Officer and Chief Financial Officer. The company is based in Kansas City, Kansas. The signer is serving as an interim chief executive, and the notice does not say when the review will end. The annual report for the year ended December 31, 2024 says the chief executive officer then served as principal executive officer and principal financial officer. The notice now names an interim chief executive who is also chief financial officer. ## Going concern and capital The annual report's going concern paragraph says the company has not generated revenues and has not yet achieved profitable operations. It says the company has never generated positive cash flow from operations. The report states that these uncertainties raise substantial doubt about the company's ability to continue as a going concern for one year after the issuance date of its financial statements. The annual report says the company incurred a net loss for each of the years ended December 31, 2024 and 2023. It reports accumulated losses of $108.5 million from inception to December 31, 2024. It also says the company expects to keep incurring losses until it can generate significant revenue from its product candidates. The company lists its capital sources as private raises, its initial public offering, public offerings in September 2023 and February 2024, sales under an at-the-market agreement and a Lincoln Park agreement, a private placement with WFIA that was later converted to equity, a warrant inducement in June 2024, and a promissory note issued in December 2024. The report says more financing will be needed to fund operations and to complete development of CTx-1301 and its other candidates, and that no assurance is given such financing will be available on acceptable terms. The report also describes CTx-1301 Phase 3 studies in pediatric and adolescent patients, for which enrollment closed in early 2024. It estimates the cost of data consolidation and analysis agreements for those two studies at $2.7 million, of which $1.1 million was incurred in 2024. The going concern passage refers to the risks of "any pre-clinical stage pharmaceutical company", although the same report describes Phase 3 studies. ## What the notice does not settle The late filing notice does not state a reason for the management change beyond the 8-K it cites, and it does not give the amount of cash on hand. It does not say whether the quarter's results will show a larger loss than last year. The going concern paragraph in the most recent annual report is the most recent statement in the record about the company's ability to fund operations. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story CING Cingulate Inc. 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Cite as: aibio.space, "Cingulate delays quarterly report after management changes", 2025-08-15, https://aibio.space/news/cingulate-delays-quarterly-report-after-management-changes/