Cingulate Inc. Dismisses Allegation Against CEO

On January 28, 2025, Cingulate Inc. (NASDAQ: CING) reported the resolution of an earlier disclosed allegation against Shane Schaffer, the company’s Chief Executive Officer and Chairman of the Board of Directors. The charge against Dr. Schaffer was initially revealed in a Form 8-K filing on October 4, 2024.

Following the investigation, on January 28, 2025, the accusation against Dr. Schaffer was dismissed, leading to a resolution of the matter. The company expressed its continued support and confidence in Dr. Schaffer’s leadership abilities, affirming that he retains the full backing of the Board.

Cingulate Inc., as an emerging growth company, declared its position in accordance with Rule 405 of the Securities Act of 1933 and Rule 12b-2 of the Securities Exchange Act of 1934. Additionally, the company declared its decision not to utilize the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

The Form 8-K filing documented the recent events concerning the resolved allegation and underscored the ongoing endorsement of Dr. Shane Schaffer by the board, solidifying his position as the head of Cingulate Inc.

As per the Filing with the Securities and Exchange Commission, Cingulate Inc. confirmed this resolution through its Chief Executive Officer Shane J. Schaffer on February 3, 2025.

This information has been made publicly available as part of the company’s regulatory obligations.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Cingulate’s 8K filing here.

Cingulate Company Profile

Cingulate Inc, a biopharmaceutical company, focuses on the development of pharmaceutical products for the treatment of attention deficit/hyperactivity disorder and anxiety in the United States. The company’s stimulant medications are CTx-1301 (dexmethylphenidate), which is in phase 3 clinical trial, as well as CTx-1302 (dextroamphetamine), which is in investigational new drug application development for the treatment of attention deficit/hyperactivity disorder intended for children, adolescents, and adults.