Welcome to our dedicated page for CARDAX news (Ticker: CDXI), a resource for investors and traders seeking the latest updates and insights on CARDAX stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect CARDAX's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of CARDAX's position in the market.
Cardax, Inc. announced a strategic refocus on its astaxanthin dietary supplement, ZanthoSyn®, aimed at boosting consumer sales while reducing corporate costs for better cash flow and profitability. Attempts to finance its pharmaceutical program have failed, prompting the Company to consider monetizing these assets through potential sales or licensing. A restructuring of the Board and reductions in staff have been implemented. The Company has also suspended its public reporting obligations to decrease expenses, reallocating resources to core business strategies.
On August 11, 2021, Cardax (OTCQB:CDXI) announced it filed a Form 15 with the SEC, voluntarily suspending its reporting obligations under Section 15(d) of the Exchange Act. This decision aims to reduce legal and accounting expenses, reallocating resources to core business strategies. Following this suspension, Cardax's common stock is expected to trade on the OTC Pink Open Market, though no assurance can be provided regarding market continuity. CEO David G. Watumull emphasized that this move should enhance operational efficiency.
Cardax, Inc. (OTCQB: CDXI) released its Q1 2021 financial results, showing an operating loss decrease from $906,031 in Q1 2020 to $771,312 in Q1 2021. However, net loss increased to $1,382,118, up from $1,002,868 a year earlier. Revenue from the ZanthoSyn® dietary supplement fell to $104,574, primarily due to decreased orders from GNC linked to COVID-19 impacts. Funds raised in Q1 2021 totaled $661,359, while Cardax seeks additional financing for CDX-101 development and faces ongoing challenges from the pandemic.
On April 15, 2021, Cardax, Inc. (OTCQB:CDXI) revealed its financial results for 2020, reporting a net loss of $5,055,507, a decrease from $5,093,037 in 2019. Operating expenses dropped to $3,405,452, primarily due to reduced professional fees and R&D costs. However, net revenues from its astaxanthin supplement, ZanthoSyn®, fell to $538,946, impacted by reduced orders from General Nutrition Corporation amidst its bankruptcy. The company raised $2,515,300 in funding while pursuing financing for its lead pharmaceutical candidate, CDX-101, and ongoing COVID-19 related challenges persist.
FAQ
What is the market cap of CARDAX (CDXI)?
