Cardax, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 14, 2020 at 02:37 am IST
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Cardax, Inc. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced sales was USD 66,502 compared to USD 229,142 a year ago. Operating loss was USD 705,760 compared to USD 1.191 million a year ago. Net loss was USD 1.354 million compared to USD 1.433 million a year ago. Basic loss per share from continuing operations was USD 1.79 compared to USD 2.1 a year ago. For the nine months, sales was USD 343,836 compared to USD 439,505 a year ago. Operating loss was USD 2.400 million compared to USD 3.355 million a year ago. Net loss was USD 4.057 million compared to USD 3.650 million a year ago. Basic loss per share from continuing operations was USD 5.51 compared to USD 5.38 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. 
