Cardax, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2019
November 14, 2019 at 06:34 pm IST
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Cardax, Inc. announced earnings results for the third quarter ended September 30, 2019. For the third quarter, the company announced sales was USD 229,142 compared to USD 549,540 a year ago. Operating loss was USD 1.191 million compared to USD 927,631 a year ago. Net loss was USD 1.433 million compared to USD 928,888 a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.01 a year ago. For the nine months, sales was USD 439,505 compared to USD 1.134 million a year ago. Operating loss was USD 3.355 million compared to USD 3.076 million a year ago. Net loss was USD 3.650 million compared to USD 3.076 million a year ago. Basic loss per share from continuing operations was USD 0.03 compared to USD 0.02 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. 