Cingulate (NASDAQ:CING) stock is on the rise Friday after releasing positive data concerning its ADHD treatment.
The big news today is that Cingulate’s CTx-1301 can be taken with or without food. That’s a win for the company and goes along with the fact that it recently initiated a Phase 3 clinical trial of the drug candidate.
According to the company, CTx-1301 is a “novel, investigational, trimodal, extended-release tablet formulation of dexmethylphenidate, a compound approved by the U.S. Food and Drug Administration (FDA) for the treatment of attention deficit/hyperactivity disorder (ADHD).”
Matthew Brams, Chief Medical Officer of Cingulate, said the following about the news:
“The ability to provide patients with a once-daily treatment that has the flexibility to be taken with or without food and delivers fast onset, a favorable tolerability profile, and entire active-day efficacy addresses the biggest unmet needs facing ADHD patients and providers.”
What This Means for CING Stock
Today’s news shows the advantages that Cingulate’s ADHD treatment may have over other offerings. The company is also getting closer to potential commercialization with its Phase 3 clinical trial. Both of these things are reasons for investors to celebrate CING stock today.
In fact, with the CTx-1301 update comes heavy trading of CING stock. As of this writing, more than 4 million shares have changed hands. That’s a massive spike above it daily average trading volume of about 74,000 shares.
CING stock is up 71.6% as of Friday morning.
Investors seeking more of the latest stock market news will want to stick around!
We’ve got all of the most recent stock market news traders need to know about on Friday! That includes the biggest pre-market stock movers this morning as well as the latest on Lionheart III Corp (NASDAQ:LION) and Coinbase (NASDAQ:COIN) shares. You can read all that news at the links below!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.