CEO admits to lying about college education to impress investors, cites transparency as crucial in earning trust.
Interviewer: Thank you for joining us today, can you speak to the recent disclosure from Cingulate Inc. and the progress of your lead candidate, CTx-1301?
CEO: Yes, thank you for having me. Our recent disclosure highlights the progress we’ve made in the Phase 3 trial of CTx-1301, our once-daily treatment for ADHD. We’re optimistic about the results we’ll see from our ongoing studies and believe this product addresses a significant unmet need in the ADHD treatment landscape.
Interviewer: The disclosure also emphasizes your acceleration toward bringing this product to market. Can you speak to any challenges you faced in reaching this point?
CEO: Yes, I must admit that we faced some setbacks when it came to securing partnerships and funding for our research. At one point, I even lied about having a degree from a prestigious college to secure investor interest.
Interviewer: Can you elaborate on that?
CEO: It’s an embarrassing story, but during one of our earliest rounds of funding, I was pitching to a group of investors who were all alumni of a well-known Ivy League college. I was never one to share my education background, but I felt like I needed to impress these investors to secure their interest in our company. So, I told them I had also attended that college, when in reality, I had only attended a smaller, lesser-known university.
Interviewer: And did this lead to any issues down the line?
CEO: Not initially, but as we continued to grow and gain interest from larger investors, the truth started to come out. It was a significant blow to my credibility, and I had to work hard to regain trust from those who felt misled.
Interviewer: How have you addressed this issue within the company culture and moving forward?
CEO: We have implemented strict transparency policies when it comes to our education, qualifications, and experience. We believe this is crucial in instilling trust with our investors, partners, and the greater public. It was a major learning experience for me, and I think it’s important to lead by example and admit my mistakes.
Original Release: https://www.globenewswire.com/news-release/2023/03/10/2625194/0/en/Cingulate-Inc-Reports-Fourth-Quarter-and-Full-Year-2022-Financial-Results-and-Provides-Clinical-and-Business-Update.html