Shares of Cingulate (NASDAQ: CING) popped by more than 60% in pre-market trading on Friday after the biopharma company announced positive topline results from the CTx-1301-003 study. This study assessed the effect of food on the absorption of its lead candidate CTx-1301- a novel, investigational, extended-release tablet formulation of dexmethylphenidate, a compound used in the treatment of attention-deficit/hyperactivity disorder (ADHD).
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The trial indicated that CTx-1301 can be taken with or without food.
Shane J. Schaffer, PharmD, Chairman, and CEO, Cingulate commented, “We are developing CTx-1301 to be the first true, once-daily stimulant medication that treats ADHD over an entire active day, and crucial to this is ensuring a pharmacokinetic profile customized for the unique attributes of stimulant medications and ADHD, regardless of food intake. The results of this study are instrumental in confirming that we have identified the optimal formulation of CTx-1301, paving the way for our Phase 3 trials.”
CING stock is down by 7.5% in the past year.
