Cingulate Inc. Common Stock (CING)

FairStock Score: 14/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor in the Graham and Buffett tradition, I look first for a durable business with earnings and a margin of safety. Cingulate fails that first test: it is a 14-employee biopharmaceutical company with no revenue in the filed periods, and its lead asset CTx-1301 is still in Phase 3 for ADHD while CTx-2103 is only in formulation for anxiety. In fiscal 2025, the year ended 2025-12-31, it reported a net loss of $22.4 million and diluted EPS of $-4.44; in fiscal 2024 it lost $16.6 million, and in fiscal 2023 it lost $23.5 million. The quarterly losses continue: fiscal Q1 2026, ended 2026-03-31, net loss $9.3 million; fiscal Q2 2026, ended 2026-06-30, net loss $5.9 million. The computed Lynch category is none, since it has lost money in each of the last four years. FairStock shows trailing free cash flow of -$20.9 million, a -30.5% FCF yield, ROE -198.74%, ROCE -66.94%, Piotroski 2/9, Altman Z -1.17, and a FairStock Score of 14/100. At the 2026-10-13 close of $4.72, the market cap is $68.6 million; FairStock's P/E of -1.33 and P/B of 2.79 are not a bargain because there are no earnings or book-value safety. The only moat I can see is potential intellectual property around the drug delivery platform, but that is unproven and binary. Growth is entirely dependent on clinical and regulatory success, not on current operations. I would not call this a value investment; it is a speculative bet on science.

In plain English: Cingulate is a tiny drug company trying to develop medicines for ADHD and anxiety. It has no sales and has been losing money for years; in fiscal 2025 it lost $22.4 million. At $4.72 a share and a $68.6 million market value, the price is not supported by profits or sales, so it looks very speculative rather than cheap in the usual value sense.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer