Cingulate Inc. (NASDAQ: CING), a pioneer in biopharmaceuticals, announced a significant breakthrough with the issuance of a European patent for its leading ADHD treatment, CTx-1301. This development marks a pivotal moment for the company, driving its stock to impressive heights following the announcement.
Groundbreaking Achievement
Cingulate’s proprietary technology, Precision Timed Release™ (PTR™), is at the core of CTx-1301, which has now secured a patent as EP Patent No. 3261625. This patent extends across up to 30 European territories, including the United Kingdom, signifying a major expansion beyond the U.S. market. This follows existing patents in Australia, Canada, and Israel, with more pending globally.
Shane J. Schaffer, Chairman and CEO of Cingulate, expressed enthusiasm about the company’s trajectory. “The granting of this patent is another meaningful milestone as Cingulate seeks to expand its reach and make a positive impact on the growing ADHD markets in Europe and other territories abroad,” said Schaffer. He also hinted at forthcoming patents and the upcoming filing of a new drug application with the FDA, promising further advancements.
Understanding ADHD and CTx-1301’s Role
Attention Deficit/Hyperactivity Disorder (ADHD) is a chronic condition affecting millions globally, continuing often into adulthood. In the U.S. alone, approximately 6.4 million children and adolescents are diagnosed with ADHD, with a significant number continuing to show symptoms as adults. Despite this, only a fraction receives adequate treatment.
CTx-1301 is designed to address this gap. Leveraging Cingulate’s PTR technology, the drug ensures a controlled release of dexmethylphenidate, optimizing treatment efficacy throughout the day. This not only provides rapid onset but also sustains effect when other treatments taper off, offering a robust solution for managing ADHD.
Market Response
Following the patent announcement, Cingulate’s stock witnessed a dramatic surge. Closing at a significant increase of 159.46% for the day and continuing to rise after hours, the stock’s movement reflects investor confidence in the company’s future prospects.
The day’s trading volume also soared, highlighting the market’s reaction to this significant news, with figures reaching over 102 million, far above the average.
Looking Forward
Cingulate’s breakthrough in the European market represents a strategic move in dominating the global ADHD treatment landscape. As the company gears up for more approvals and a U.S. FDA application, the future looks promising for Cingulate Inc., potentially setting a new standard in ADHD care.
