Cardax Reports Q3 2017 Results
Revenues Up Nearly 5 Times from Q2 2017
HONOLULU, Nov. 14, 2017 /PRNewswire/ -- Cardax, Inc. (OTCQB:CDXI) announced strong ZanthoSyn® revenues of approximately $322,000 for the third quarter of 2017 — up nearly 5 times from the second quarter of 2017, as reported in the Company's Form 10-Q filed today.
These results include the initial national stocking orders of ZanthoSyn from General Nutrition Corporation ("GNC") for its more than 3,200 corporate stores across the US, as well as increased same-store sales of ZanthoSyn in Hawaii GNC stores.
Management also highlighted the major milestones achieved this year that have helped drive increasing sales:
- ZanthoSyn national rollout to more than 3,200 GNC corporate stores in the US
- Robust physician outreach and education in Hawaii
- Increasing consumer awareness in Hawaii
- Breakthrough anti-aging research results reported with research collaborator University of Hawaii
- Cardax astaxanthin compound CDX-085 chosen as top anti-aging prospect by NIH
- Approximately $4 million in new capital raised to fund these efforts
"We are very pleased to see a strong trend of accelerating sales of ZanthoSyn," said David G. Watumull, Cardax President and CEO. "We believe it reflects our successful sales and marketing strategy focused on increasing physician and consumer awareness of the anti-inflammatory health benefits of ZanthoSyn. Additionally, the increased capital will fuel further company growth and advance development of CDX-085, our next generation ZanthoSyn product."
Please refer to the Form 10-Q filed by the Company today for additional information.
Cardax devotes substantially all of its efforts to developing and commercializing safe anti-inflammatory dietary supplements and drugs. Cardax is initially focusing on astaxanthin, which is a powerful and safe naturally occurring anti-inflammatory without the side effects of currently marketed anti-inflammatories. The safety and efficacy of Cardax's products have not been directly evaluated in clinical trials or confirmed by the FDA.
ZanthoSyn is a physician recommended anti-inflammatory supplement for health and longevity that features astaxanthin with optimal absorption and purity.* ZanthoSyn is sold online and in GNC stores. ZanthoSyn contains astaxanthin, which is Generally Recognized as Safe (GRAS) according to FDA regulations.
Astaxanthin is a clinically studied compound with safe anti-inflammatory activity that supports joint health, cardiovascular health, metabolic health, liver health, and longevity.*
Media and Investors
This release may contain certain forward-looking statements regarding our prospective performance and strategies within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and are including this statement for purposes of said safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations of our company, are generally identified by use of words "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "seek," "strive," "try," or future or conditional verbs such as "could," "may," "should," "will," "would," or similar expressions. Our ability to predict results or the actual effects of our plans or strategies is inherently uncertain. Accordingly, actual results may differ materially from anticipated results. Some of the factors that could cause our actual results to differ from our expectations or beliefs include, without limitation, the risks discussed from time to time in our filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Except as required by applicable law or regulation, we undertake no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made.
* These statements have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure, or prevent any disease.
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SOURCE Cardax, Inc.
Released November 14, 2017