Business
Cardax Reports Q3 2018 Results
Cardax Reports Q3 2018 Results.
About this update from Cardax Inc
[{"type":"text","content":"\n\n\n\nCardax Reports Q3 2018 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 Q3 2018 Results\nRobust ZanthoSyn® Sales Growth Continues\n- 102% Greater Than Q2 2018\n- 71% Greater Than Q3 2017\n- 129% 9-Month Sales Growth\nPR Newswire\nHONOLULU, Nov. 13, 2018\n\n\n\nHONOLULU, Nov. 13, 2018 /PRNewswire/ -- Cardax, Inc. (OTCQB: CDXI) announced its results for the third quarter of 2018. Revenues from sales of ZanthoSyn®, its premium astaxanthin dietary supplement for inflammatory health and longevity, increased 102% from $272,049 in Q2 2018 to $549,540 in Q3 2018.\nQ3 2018 revenues also increased 71% from $321,861 in Q3 2017. Q3 2017 had the largest ZanthoSyn® revenues in 2017, primarily reflecting the first nationwide stocking orders from GNC, the Company's exclusive U.S. \"brick-and-mortar\" retail channel.\nRevenues for the nine-months ended September 30, 2018 grew 129% to $1,134,899 from $496,088 for the same 9-month period in 2017.\nThese results primarily reflect sales to GNC driven by the strong sell-through of ZanthoSyn® in Hawaii as well as an accelerating sales trend in California, Nevada, and New York. Sales have been supported by high-quality interactions with physicians and other health care professionals at conferences, meetings, and continuing medical education events.\nCardax's two-pronged ZanthoSyn® sales and marketing strategy combines:\nPhysician 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 its efforts to build its intellectual property (IP) portfolio and advance its orphan drug and clinical development programs. \nConsistent with the expansion of th...