Cingulate Inc. Delisting Delayed; Stock Soars

Shares of Cingulate Inc. (CING, +101.52%) experienced a staggering surge of 226.3% in premarket trading on Thursday, following the announcement that the planned delisting of its stock has been postponed until at least February. After closing on Tuesday at an all-time low of $1.98, the stock skyrocketed by a remarkable 101.5% on Wednesday. As of now, the stock has surged more than 6-fold (up 557.6%) in just two days.

Initially, in November, Cingulate had revealed that the Nasdaq intended to delist its stock due to noncompliance with the minimum stockholders' equity requirement. However, as a result of the Nasdaq granting the company's request for a hearing, the stock will remain listed until the panel hearing in February. During this hearing, Cingulate will submit its plan to regain compliance.

In addition to this development, Cingulate also announced that, based on guidance from the U.S. Food and Drug Administration, it expects to submit a new drug application for its investigational drug candidate to treat attention deficit hyperactivity disorder (ADHD) in the first half of 2025.

While the year-to-date performance of Cingulate's stock has declined by 80.1%, the iShares Biotechnology ETF (IBB, +1.36%) has seen a 4.2% gain and the S&P 500 (SPX, +0.14%) has rallied by 24.5% through Wednesday.

This recent turn of events presents an interesting opportunity for investors and those closely following Cingulate Inc.'s activities.