Cingulate Inc.
CINGNasdaqHealthcare · Pharmaceutical Preparations · DE · SEC filings ↗ · Compare ⊕
View price & chart on Yahoo Finance ↗Financials
SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — |
| Operating income | −$19.9M | −$15.6M | −$22.8M | −$17.5M | −$20.7M | −$7.1M |
| Net income | −$22.4M | −$15.5M | −$23.5M | −$17.7M | −$20.7M | −$7.2M |
| Total assets | $15.1M | $14.9M | $3.5M | $11.4M | $22.9M | $5.8M |
| Total liabilities | $12.6M | $7.4M | $10.4M | $7.5M | $2.0M | $4.5M |
| Equity | $2.5M | $7.5M | −$6.9M | $3.9M | $20.8M | $1.3M |
| EPS (diluted) | $-4.44 | $-10.20 | $-311.99 | $-29.35 | $-2.79 | — |
| Shares out. | 3.8M | 5.0M | 11.3M | 11.3M | 11.3M | — |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- —
- Net margin
- —
- Return on equity
- −894.8%
- Return on assets
- −148.9%
- Return on capital (ROCE)
- −418.8%
- Liabilities / assets
- 83.4%
- Debt / equity
- 5.01×
- Book value / share
- $0.67
- Revenue growth (YoY)
- —
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- -36.57distress
- Accruals / assets
- −34.5%clean
- Piotroski F-Score
- 2/7weak
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 2 severe● 2 warning● 1 good- Altman Z″ in the distress zone
- Filed a late-filing notice (Form NT) — missed an SEC deadline
- High leverage (liabilities > 70% of assets)
- Negative operating cash flow
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Risk flags
late SEC filings- NT 10-Qmissed a reporting deadline ↗Aug 15, 2025
A Form NT means the company notified the SEC it would file a periodic report late — often an accounting, audit or liquidity warning sign. Also search SEC enforcement actions for this company.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Falcon Creek Capital Advisor LlcActivist (13D)Mar 26, 2026
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 1.6M | 3.6 | +5.5% |
| Apr 30, 2026 | 1.5M | 2.9 | +5.3% |
| Apr 15, 2026 | 1.4M | 3.7 | +31.7% |
| Mar 31, 2026 | 1.1M | 1.2 | +106.8% |
| Mar 13, 2026 | 521,519 | 1.2 | +12.4% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Director / officer changeMay 19, 2026
- Results of operationsMay 14, 2026
- Director / officer changeApr 2, 2026
- Entered a material agreement · Shareholder voteMar 24, 2026
- Results of operations · Other material eventMar 18, 2026
- Unregistered equity sale · Director / officer change · Regulation FD disclosure · Other material eventFeb 17, 2026
- Unregistered equity sale · Other material eventFeb 6, 2026
- Entered a material agreement · Unregistered equity sale · Amended charter or bylawsJan 28, 2026
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.