24/7 Market News Snapshot 15 August, 2024 – Cingulate Inc. Common Stock (NASDAQ:CING)

August 15, 2024

DENVER, Colo., 15 August, 2024 (247marketnews.com) – (NASDAQ:CING) are discussed in this article.
Cingulate Inc. (NASDAQ:CING), a biopharmaceutical innovator specializing in next-generation treatments, is currently navigating a fluctuating trading environment. In pre-market activity, shares have been quoted at $3.175, a notable rise from the previous close of $1.845, which indicates substantial trading interest with a current volume of 878.43K. Despite this increase, the stock shows a lack of momentum, maintaining a change of 0.0%. Investors should remain vigilant, as resistance levels may form around the latest closing price, while key support points could also come into play with the climbing volume.

In a pivotal development, Cingulate has further expanded its global presence by securing a European patent for its lead asset, CTx-1301 (dexmethylphenidate), under EP Patent No. 3261625, issued on August 14, 2024. This patent grants protection in up to 30 European countries, underscoring the company’s strategy to meet the rising global demand for effective ADHD treatments. CTx-1301 utilizes Cingulate’s proprietary Precision Timed Release™ (PTR™) drug delivery platform, which aims to enhance patient outcomes by providing three targeted doses in a single tablet, thus addressing the critical need for sustained medication effects throughout the day.

Shane J. Schaffer, Chairman and CEO, highlighted the significance of this patent as a strategic milestone and expressed enthusiasm for entering European markets. With millions suffering from ADHD worldwide and a stark gap in effective treatment, Cingulate’s commitment to delivering innovative care solutions is poised to significantly improve therapeutic options. The company’s forward-looking approach anticipates not only enhancing existing treatments but also exploring additional therapeutic avenues, positioning Cingulate favorably within the evolving biopharmaceutical sector.

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