IPO Recap: ADHD drug developer Cingulate files for a $58 million IPO
On the last trading day, the Dow Jones Industrial Average fell 0.43% to end at 34,879.38 points, while the S&P 500 lost 0.46% to 4,493.28. The Nasdaq Composite dropped 0.25% to 15,248.25.
Labor Day took place on Monday, September 6. The post-Labor Day IPO storm is coming soon next week.
On the last trading day, there was one traditional IPOs filed while no new stock officially listed for trading.
Cingulate, the Kansas City, KS-based company, was founded in 2013. It is a Phase 3-ready biotech developing formulations of stimulant drugs for ADHDn.
The company is initially focusing its efforts on the treatment of Attention Deficit/Hyperactivity Disorder (ADHD). It is also initially targeting the ADHD stimulant-based treatment market.
Cingulate's two candidates, CTx-1301 (dexmethylphenidate) and CTx-1302 (dextroamphetamine), are being developed for the treatment of ADHD. The company announced positive results from a Phase 1/2 study of CTx-1301 in ADHD patients in October 2020, and it plans to initiate Phase 3 trials in the 4Q21 with results expected in late 2022.
$Regencell Bioscience(RGC.US$, an early-stage bioscience company, started in Hong Kong in 2014 with main operation and assets in Hong Kong. It focuses on research, development and commercialization of TCM for the treatment of neurocognitive disorders and degeneration, specifically Attention Deficit Hyperactivity Disorder (“ADHD”) and Autism Spectrum Disorder (“ASD”).
The company aims to launch three liquid-based standardized TCM formulae candidates for mild, moderate and severe ADHD and ASD patients in Hong Kong first and subsequently to other markets.
It has three standardized TCM formulae candidates under development targeting mild, moderate and severe ADHD and ASD conditions. It plans to commence the second research study using the three standardized TCM formulae candidates in the second quarter of 2021.
Regencell Bioscience began trading on July 16, 2021. As of September 9th, it has a market cap of $71 million, with the listed to date gain of 185.47%.
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Riding the IPO wave, and find the new bull!
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