Cingulate (CING) Shares Skyrocket Over 150% on European ADHD Patent Announcement
PRISM Mental Health Index leader Cingulate (CING) saw shares rise over 150% on its recent news regarding the issuance of a European patent for its leading asset, CTx-1301 (dexmethylphenidate), designed for the treatment of Attention Deficit Hyperactivity Disorder (ADHD). The biopharmaceutical company leverages its proprietary Precision Timed Release™ (PTR™) drug delivery platform to develop next-generation pharmaceutical products.
The patent, granted on August 14, 2024, as EP Patent No. 3261625, covers up to 30 European territories, including the United Kingdom. In addition to this European patent, Cingulate holds patents in Australia, Canada, and Israel, with pending applications in Hong Kong, the Republic of Korea, and the United States.
“The approval of this patent is a significant milestone in our efforts to extend Cingulate’s impact beyond the United States and into the expanding ADHD markets in Europe and other regions. We anticipate securing additional patents soon as we continue to demonstrate the clinical success of CTx-1301 and progress toward filing a new drug application with the FDA,” stated Shane J. Schaffer, Cingulate’s Chairman and CEO.
