Cardax Reports Q2 2018 Results
ZanthoSyn® Sales 4x Higher Than Q2 2017
HONOLULU, Aug. 13, 2018 /PRNewswire/ -- Cardax, Inc. (OTCQB: CDXI) today announced its results for the second quarter of 2018. Revenues from sales of ZanthoSyn®, its premium astaxanthin dietary supplement for inflammatory health and longevity, increased more than four times, to $272,049 in Q2 2018 from $66,237 in Q2 2017. Revenues for the six-months ended June 30, 2018 also grew strongly to $585,359 from $174,227 for the same period in 2017.
The results primarily reflect sales to GNC driven by the strong sell-through rate of ZanthoSyn® in Hawaii as well as an accelerating sales trend in California, Nevada, and New York. Sales were supported by over 1,000 high quality interactions with physicians and other health care professionals at conferences, meetings, and continuing medical education events.
"We are very pleased to see continuing sales growth in the selected U.S. markets where we have focused our sales and marketing efforts thus far," said David G. Watumull, Cardax President and CEO.
The Company's two-pronged sales and marketing strategy combines:
- Physician outreach and education, where ZanthoSyn® is positioned as the first safe, physician friendly, anti-inflammatory for health and longevity, and GNC serves as a convenient and credible distribution channel for physicians recommending ZanthoSyn®.
- GNC store outreach, education, and in-store sales support, which builds on the ability to utilize ZanthoSyn® as a foundation of health, wellness, and performance regimens.
In addition to these sales and marketing efforts, the Company also continues to build its intellectual property portfolio and advance its orphan drug and clinical development programs.
Please refer to the Quarterly Report on Form 10-Q filed today by the Company for additional information.
Cardax devotes substantially all of its efforts to developing and commercializing dietary supplements and pharmaceuticals. Cardax is initially focusing on astaxanthin, which is a powerful and safe naturally occurring anti-inflammatory that supports health and longevity.* 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 enhanced 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 August 13, 2018