Cardax, Inc. Reports Earnings Results for the Full Year Ended December 31, 2019
March 30, 2020 at 05:20 pm IST
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Cardax, Inc. announced earnings results for the full year ended December 31, 2019. For the full year, the company announced sales was USD 710,949 compared to USD 1.510 million a year ago. Operating loss was USD 4.077 million compared to USD 4.022 million a year ago. Net loss was USD 5.093 million compared to USD 4.024 million a year ago. Basic loss per share from continuing operations was USD 7.49 compared to USD 6.32 a year ago.
Cardax, Inc. is a consumer health company focused on marketing ZanthoSyn, an astaxanthin dietary supplement for inflammatory health. It seeks to monetize CDX-101, the Company's pre-clinical pharmaceutical candidate for cardiovascular inflammation and dyslipidemia, and CDX-301, the Company's pre-clinical pharmaceutical candidate for macular degeneration. CDX-101 is a proprietary astaxanthin prodrug that cleaves following oral administration and delivers astaxanthin to the bloodstream. Astaxanthin is a naturally occurring molecule with safe anti-inflammatory activity that supports cardiovascular health, metabolic health, liver health, joint health, and longevity. It intends to develop zeaxanthin pharmaceutical candidate, CDX-301, for macular degeneration. Zeaxanthin accumulates in the human eye through uptake by a retinal receptor, providing protection against blue light, oxidative damage, and related inflammation that occurs in macular degeneration.
CARDAX, INC. 