Cingulate Inc. CING shares rose after the company was granted European patent for its flagship asset, CTx-1301, which is designed to treat Attention Deficit Hyperactivity Disorder (ADHD).
What To Know: This patent covers up to 30 European territories, including the United Kingdom, marking a crucial step in Cingulate's efforts to solidify its presence in the global ADHD market. Cingulate is also preparing to file a New Drug Application (NDA) with the U.S. Food and Drug Administration.
The drug is designed using Cingulate’s Precision Timed Release technology, which allows for three precisely timed releases of medication throughout the day. This innovation is intended to provide patients with a full day's efficacy from just one tablet, addressing a significant challenge in ADHD treatment where maintaining medication effectiveness throughout an active day has been difficult with existing therapies.
CING Price Action: As of the latest trading session, the stock has surged by 239%, reaching $16.30 per share according to Benzinga Pro.
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