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Cardax Reports Q1 2019 Results
Cardax Reports Q1 2019 Results.
About this update from Cardax Inc
[{"type":"text","content":"\n\n\n\nCardax Reports Q1 2019 Results\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nCardax Reports Q1 2019 Results\nPR Newswire\nHONOLULU, May 17, 2019\n\n\n\nHONOLULU, May 17, 2019 /PRNewswire/ -- Cardax, Inc. (OTCQB:CDXI) announced results for the quarter ended March 31, 2019, in its Quarterly Report on Form 10-Q filed May 15, 2019 with the SEC.\nCardax continued to make progress in Q1 2019 across its primary areas of focus: the ZanthoSyn® consumer health business, CHASE human clinical trial, and Rx development programs.\nZanthoSyn® Sales:\nQ1 2019 represented the top performing quarter, as measured in dollars and units, for retail sales of ZanthoSyn® to customers at General Nutrition Corporation (\"GNC\") stores (\"sell-through\") since ZanthoSyn®'s launch at GNC in Q1 2017. The consistent increase in sell-through reflects the continued sales growth of ZanthoSyn® in markets where Cardax has focused its sales, marketing, and physician outreach efforts. Cardax revenues, which include sales of ZanthoSyn® through wholesale and e-commerce channels, were $164,972 in Q1 2019 vs. $313,310 in Q1 2018. The change in revenues was attributed primarily to the timing of wholesale inventory replenishment by GNC (\"sell-in\"). Given ZanthoSyn®'s recent nationwide launch, Cardax expects revenue volatility may continue until more predictable sell-in and sell-through levels are achieved, but the positive trend in sell-through is anticipated to provide the foundation for future revenue growth.CHASE Clinical Trial. The Company's double-blind, randomized, placebo controlled, CHASE clinical trial has enrolled and dosed more than 40 subjects to date. The clinical trial is evaluating the effect of low-dose and high-dose ZanthoSyn® on cardiovascular inflammatory health, as measured by high sensitivity C-Reactive Protein (hsCRP), over 12 weeks in subjects with documented cardiovascular risk factors. Interim results are expected later this year and will help determine the final number of subjects required for completion of the study.\nRx Development. Th...