Chromadex Corp Stock Price, News & Analysis

ChromaDex Corp. (NASDAQ:CDXC) appointed Brianna Gerber as the new Chief Financial Officer, effective January 1, 2023. Gerber has over 20 years of experience in finance and investor relations, having served as Senior VP of Finance at ChromaDex since August 2022. CEO Rob Fried praised her leadership and commitment to achieving an EBITDA-positive business. Gerber expressed excitement about leading the company towards profitable growth and operational efficiency.

ChromaDex Corp. (NASDAQ:CDXC) announced new findings supporting the efficacy of its proprietary Niagen^® (nicotinamide riboside or NR) in enhancing neurodegenerative biomarkers associated with aging. A recent peer-reviewed study found that NR supplementation significantly increased NAD+ levels in neuron-derived extracellular vesicles and reduced biomarkers linked to Alzheimer’s disease, like Aβ42. This research builds on previous studies supporting NR’s benefits for cognitive health and sets the stage for future trials, including one focused on older adults with mild cognitive impairment.

ChromaDex Corp. (NASDAQ:CDXC) announced that the U.S. FDA has determined that nicotinamide mononucleotide (NMN) cannot be marketed as a dietary supplement, as it has been first investigated as a drug since November 4, 2022. This decision impacts ChromaDex's NMN offerings, while its proprietary ingredient Niagen®, a form of nicotinamide riboside (NR), remains a viable NAD+ precursor backed by over 20 clinical studies. ChromaDex continues its focus on NAD+ research and has established extensive partnerships for its CERP™ program.

ChromaDex Corp. (NASDAQ:CDXC) reported Q3 2022 net sales of $17.1 million, reflecting a 1% decline from Q3 2021. Strong gross margin stood at 59.8%. The net loss improved to $1.0 million or $(0.01) per share, a significant reduction from $8.8 million in Q3 2021. Adjusted EBITDA loss of $1.2 million shows a $5.1 million improvement. The company anticipates high single-digit revenue growth for 2022, targeting cash flow break-even in Q4. Strategic partnerships in China and with Nestlé Health Science were secured.

ChromaDex Corp. (NASDAQ:CDXC) will host a conference call on November 2, 2022, at 4:30 p.m. ET to discuss its third quarter financial results for the period ending September 30, 2022. The results will be announced in a press release after market hours on the same day. Interested participants are advised to dial in 10 minutes early, with the toll-free number being 1-888-330-2446 and Conference ID 4126168. A replay will be available from 7:30 p.m. ET on November 2 to November 9, 2022.

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 $3M has been secured from existing strategic investors, including the CEO, Rob Fried. Cross-border sales of Tru Niagen® have begun successfully through Sinopharm Xingsha at the China International Natural Health & Nutrition Expo. The private placement for $3.1 million is expected to close around October 7, 2022, aimed at supporting health food registration and international expansion.