By Elias Schisgall

Shares of Cingulate fell after the biopharmaceutical company posted a wider-than-expected loss in the fourth quarter.

The stock was down 27%, at $8.55, midday Wednesday, but has more than doubled in value over the past year.

The company on Wednesday reported a loss of $6.3 million, compared with a loss of $6.2 million a year earlier.

The Kansas City, Kan., company's full-year loss came out to $22.4 million, wider than its 2024 loss of $16.6 million.

Analysts were expecting a fourth-quarter loss of $4.8 million and a full-year loss of $20.8 million.

Cingulate, which doesn't have any products on the market, reported no revenue for the year. The Food and Drug Administration is currently reviewing a New Drug Application for its lead candidate, CTx-1301, a treatment for attention-deficit/hyperactivity disorder.

The company received a notice of allowance for its U.S. patent application for CTx-1301 on Tuesday. The patent, upon issuance, would protect key elements of the drug's formulation and method of use through May 2042, the company said.

Cingulate said Wednesday that its cash on hand would support its capital needs late into the fourth quarter as it seeks approval for and prepares to commercialize CTx-1301. It ended 2025 with about $11 million in cash and cash equivalents, and received a $12 million private investment led by Falcon Creek Capital last month.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

March 18, 2026 12:56 ET (16:56 GMT)

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