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CINGCingulate Inc.

Is Cingulate struggling financially?

Yes, by its own account. Cingulate told the SEC on 14 May 2026, in Form 10-Q, that there is substantial doubt about its ability to continue as a going concern.

Going concern disclosed May 2026

30/100

Fragile

Sector
Biotech/Pharma
Market cap
$80.7M
Source filing
10-Q 14 May 2026
Balance sheet
30 Jun 2026

Cash runway

  • 16months

    If the burn speeds up

    Empty by Oct 2027

  • 23months

    If it eases off

    Empty by May 2028

Both rows are the same reported burn flexed 15% either way, and neither assumes the company raises a cent.

Out of cashTwo years or more

The runway math

Cash and short-term investments

$28.4M

÷

Cash burned over the last 12 months

$17.4M

What Cingulate told the SEC

…plans will be effectively implemented in such a way that they will sufficiently alleviate or mitigate the conditions and events noted above, which results in substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the financial statements are issued. The accompanying consolidated financial statements have been prepared on a going concern basis, which…

Cingulate Inc., Form 10-Q, filed 14 May 2026.

Read the filing on SEC.gov

What this means

  • Not a bankruptcy filing, and not a prediction.
  • It is the company’s own statement, agreed with its auditor, that the doubt is material enough to disclose.
  • The runway is arithmetic on two reported numbers, not a forecast. Companies carry this language for years, raise money and keep going.

What else the numbers show

  • 185.5% share-count increase The company issued stock. Each share now owns 65.0% less of the business than a year ago, before any change in the price.
  • Cash burn is narrowing It is spending 47% less cash per year than it was, so the runway above is lengthening rather than shortening.

Other Biotech/Pharma companies that filed the doubt