09:34 AM EDT, 08/15/2025 (MT Newswires) -- Cingulate ( CING ) said Friday its board has placed Chairman and Chief Executive Shane J. Schaffer on administrative leave pending the resolution of legal matters unrelated to the company and its operations.

The company said it appointed Chief Financial Officer Jennifer Callahan as interim CEO. She will keep her responsibilities as CFO.

Cingulate ( CING ) added that it appointed current Director Jay Roberts as executive chairman.

The company's shares were up 4% in recent Friday premarket activity.

Price: 4.25, Change: +0.12, Percent Change: +2.91