Cingulate filed with the US Securities and Exchange Commission on Thursday to raise up to $58 million in an initial public offering, Renaissance Capital reported.
The firm is using its proprietary Precision Timed Release (PTR) drug delivery platform technology to advance a pipeline of next-generation pharmaceuticals.
The company’s two candidates, CTx-1301 (dexmethylphenidate) and CTx-1302 (dextroamphetamine), are being developed for the treatment of ADHD.
In October, Cingulate announced positive results from a Phase I/II study of CTx-1301 in ADHD patients.
It plans to initiate Phase III trials in the fourth quarter of 2021 with results expected in late 2022.