Business
ChromaDex Corporation Reports Third Quarter 2021 Financial Results
Total company net sales of $17.3 million for the three months ended September 30, 2021, with Tru Niagen® net sales of $14.8 million, up 24% from the prior
About this update from Niagen Bioscience, Inc.
[{"type":"text","content":"\nTotal company net sales of $17.3 million for the three months ended September 30, 2021, with Tru Niagen® net sales of $14.8 million, up 24% from the prior year quarter and gross margin of 61.1% for the quarter.\n\n LOS ANGELES--(BUSINESS WIRE)--\nChromaDex Corp. (NASDAQ:CDXC) today announced financial results for the third quarter of 2021.\n\nThird Quarter 2021 and Recent Highlights\n\n\nTotal net sales were $17.3 million, up 22% from the prior year quarter.\n\n\nTru Niagen® net sales were $14.8 million, a 24% increase from the prior year quarter.\n\n\nGross margin was 61.1%, a 150 basis point increase from the prior year quarter.\n\n\nNet loss was $(8.9) million or $(0.13) per share, a decline of $0.06 per share from the prior year quarter.\n\n\nAdjusted EBITDA excluding total legal expense, a non-GAAP measure, was a loss of $(0.6) million, a $0.5 million decline from the prior year quarter.\n\n\nAnnounced partnership with Sinopharm Xingsha, a subsidiary of one of China’s largest pharmaceutical companies, to conduct cross-border sales of Tru Niagen in Mainland China, and collaborate to secure Health Food Registration.\n\n\nStudy published in September 2021 on nicotinamide riboside (NR) supplementation in children with Ataxia-Telangiectasia (AT), a prematurely aging population, showed improvement in ataxia scores and increased antibodies in immune-compromised patients.\n\n\nClinical study published in October 2021 in Molecular Systems Biology finds nutritional protocol including nicotinamide riboside (NR) significantly decreases liver fat and improves liver function.\n\n\n“This quarter marks an inflection point for ChromaDex,” said CEO, Rob Fried. “With the litigation largely behind us, we are focusing more resources, both human and financial, on building the Tru Niagen® brand, furthering our science, and developing our global partnerships. We recently partnered with Sinopharm Xingsha, one of the most prestigious healthcare companies in China, which will enable us to capitalize on the tremendous opportunity for Tru Niagen® in that market.”\n\nResults of operations for the three months ended September 30, 2021\n\nFor the three months ended September 30, 2021 (“Q3 2021”), ChromaDex reported net sales of $17.3 million, up $3.1 million or 22% compared to the third quarter of 2020 (“Q3 2020”). The increase in Q3 2021 revenues was l...