IPO filings are back on the biotech menu as an ADHD drug developer submits its Nasdaq paperwork

The summer months have brought the biotech IPO market to a near standstill after a record run, but activity is slowly starting to ramp back up again as another company is taking the Nasdaq plunge.

ADHD drug developer Cingulate filed for an IPO on Thursday, penciling in a modest $58 million for its raise. Based out of Kansas City, KS, Cingulate has a Phase III-ready ADHD program in addition to a follow-up candidate soon to hit the clinic, as well as a third program still in early preclinical development for anxiety.