Why Cingulate (CING) Shares Are Trading Higher Today - Cingulate (NASDAQ:CING)

Cingulate Inc CING announced positive topline results from the CTx-1301-003 study assessing the effect of food on the absorption of its lead candidate CTx-1301.
CTx-1301 is a trimodal, extended-release tablet formulation of dexmethylphenidate, a compound approved by the FDA for attention-deficit/hyperactivity disorder (ADHD).
The trial demonstrated that CTx-1301 could be taken with or without food.
Multiple pharmacokinetic (PK) measurements were taken, and adverse events were consistent with previous findings and indicated a favorable tolerability profile.
"The study of CTx-1301 in the fasted versus fed state demonstrated that food did not delay absorption and thus should not affect the onset of action. Therefore, we expect that CTx-1301 can be administered orally with or without food," said Raul Silva, Chief Science Officer of Cingulate.
Cingulate recently initiated its first Phase 3 trial for CTx-1301, an adult dose-optimization efficacy and safety study to assess onset and duration, with results expected in Q3 of 2023.
In addition, the company plans to initiate its pivotal Phase 3 trial study in pediatric and adolescent patients with ADHD in mid-2023.
Price Action: CING shares are up 68.5% at $1.87 during the premarket session on the last check Friday.

Why Cingulate Shares Are Trading Higher Today