Welcome to our dedicated page for ChromaDex Corporation news (Ticker: CDXC), a resource for investors and traders seeking the latest updates and insights on ChromaDex Corporation stock.
ChromaDex Corporation (NASDAQ: CDXC) is a pioneering global nutraceutical company dedicated to enhancing healthy aging through scientific advancements. The company's mission revolves around improving the way people age by focusing on the potential of nicotinamide adenine dinucleotide (NAD+), a critical coenzyme in metabolic processes that declines with age.
ChromaDex's team of scientists partners with renowned universities and research institutions worldwide to explore and develop innovative, science-based ingredients. Their flagship product, Tru Niagen®, is a supplement that features Niagen® (nicotinamide riboside), an NAD+ precursor aimed at promoting better aging. Alongside Tru Niagen®, ChromaDex's product portfolio includes PteroPure® (pterostilbene), PureEnergy® (a caffeine-pterostilbene co-crystal), and Anthorigin™ (anthocyanins).
The company operates through three primary segments: Consumer Products, Ingredients, and Analytical Reference Standards and Services. The majority of ChromaDex's revenue is generated from its Consumer Products segment, driven by the popularity and efficacy of Tru Niagen®.
ChromaDex's commitment to scientific research is evident in its numerous collaborations with academic institutions. These partnerships aim to uncover the full potential of NAD+ and other beneficial compounds to develop products that support health and longevity.
The company's stock is publicly traded on NASDAQ under the symbol CDXC. For more information on ChromaDex, visit their website at www.chromadex.com, follow them on Twitter @chromadex, or like their Facebook page here.
Recent Achievements and Current Projects:
- Continued research and development into NAD+ and its related compounds.
- Expansion of Tru Niagen® into new markets globally.
- Ongoing partnerships with leading universities and research institutions.
- Innovative new product launches aimed at further promoting healthy aging.
ChromaDex Corp. (NASDAQ:CDXC) announced that its supplement, Tru Niagen®, received the “Most Popular Brand of the Year Award” at the China International Natural Health & Nutrition Expo on September 20, 2022. This recognition highlights the product's robust research backing and expanding market presence, especially in the cross-border e-commerce sector in China. With a consumer base over 264 million aged 60 and above in China, the demand for healthy aging products is growing. ChromaDex aims to solidify its market leadership through partnerships and enhanced distribution channels.
ChromaDex has announced a new long-term commercial license and supply agreement with Nestlé Health Science that expands their previous supply agreement to include dietary supplements. The deal features a $1.975 million initial purchase commitment for the ingredient Niagen®, along with potential future milestone payments and tiered royalties based on sales. In addition, Nestlé is purchasing 3,816,794 shares of ChromaDex at $1.31 each for gross proceeds of $5 million.
ChromaDex Corp. (NASDAQ:CDXC) announced promising findings from a clinical study published in the Journal of the American College of Cardiology. The study evaluated the safety and tolerability of the company's proprietary Niagen® (nicotinamide riboside or NR) in Stage C heart failure patients. Key results showed that high-dose NR was well-tolerated, nearly doubling whole blood NAD+ levels, enhancing mitochondrial function, and reducing inflammatory markers. This milestone trial opens avenues for future research into NR's therapeutic potential in heart failure.
ChromaDex has established a joint venture to expedite the approval of Tru Niagen® registration in China ("Blue Hat" approval). An investment of
ChromaDex (NASDAQ:CDXC) announced the launch of Tru Niagen® at the China International Natural Health & Nutrition Expo (NHNE) in Shanghai on September 20. This event will showcase Tru Niagen® to over 100,000 distributors and retailers, reinforcing its status as a leader in NAD+ supplements. CEO Rob Fried indicated that the collaboration with Sinopharm Xingsha aims to expand cross-border sales and achieve regulatory approval in China. Tru Niagen® has garnered multiple approvals internationally, further supporting its introduction into the Chinese market.
ChromaDex Corp. (NASDAQ:CDXC) partners with MyPharma2Go to introduce Tru Niagen® to Brazil, the first Latin American market for the product. This partnership enables cross-border sales of Tru Niagen® and Tru Niagen® PRO, which are based on the key ingredient nicotinamide riboside (NR), a leading NAD+ precursor. Both products are now available through Brazilian e-commerce platforms. With a track record of reaching over 240,000 patients, MyPharma2Go aims to enhance access to these supplements for healthy aging, supported by extensive clinical research backing Niagen®.
Ayana Bio has appointed Frank Jaksch as CEO, a veteran in the health and wellness industry, particularly known for founding ChromaDex, which develops the NAD product Tru Niagen (Nasdaq: CDXC). Launched in September 2021, Ayana Bio utilizes innovative plant cell technology to produce sustainable bioactives for consumer products, aiming to address challenges in ingredient supply chains exacerbated by climate change and geopolitical issues. The company, supported by Ginkgo Bioworks (NYSE: DNA), is positioned to revolutionize sourcing through standardized cultivation methods.
ChromaDex Corp. (NASDAQ: CDXC) announced a significant legal victory as the U.S. Patent Trial and Appeal Board rejected Thorne Research's attempt to invalidate U.S. Patent No. 8,197,807, exclusively licensed for compositions containing nicotinamide riboside (NR). This decision strengthens ChromaDex's position in a patent infringement lawsuit against Thorne Research. The company is known for its flagship ingredient, Niagen®, which is backed by extensive clinical research and approved by leading global regulatory agencies.
ChromaDex Corp. (NASDAQ:CDXC) reported Q2 2022 net sales of $16.7 million, a 5% decline year-over-year, primarily due to reduced shipments and lower sales from A.S. Watson impacted by COVID-19. Costs were managed effectively, with gross margin at 60%, despite inflationary pressures. A decrease in general and administrative expenses by $2 million is positive. The company's full-year outlook anticipates high single-digit revenue growth, a consistent gross margin, and a target to achieve cash flow break-even by Q4 2022, supported by e-commerce growth.
ChromaDex Corp. (NASDAQ:CDXC) will hold a conference call on August 10, 2022, at 4:30 p.m. ET, to discuss its second-quarter financial results for the period ending June 30, 2022. A press release detailing the financial results will be issued after market close on the same day.
Investors can participate by calling 1-888-330-2446 with Conference ID 4126168, or join the webcast via ChromaDex's website. A replay will be available starting 7:30 p.m. ET on August 10 until 11:59 p.m. ET on August 17, 2022.
FAQ
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