Cardax, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2020
August 14, 2020 at 05:01 pm EDT
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Cardax, Inc. announced earnings results for the second quarter ended June 30, 2020. For the second quarter, the company announced sales was USD 134,521 compared to USD 45,391 a year ago. Operating loss was USD 789,032 compared to USD 1.049 million a year ago. Net loss was USD 1.700 million compared to USD 1.081 million a year ago. Basic loss per share from continuing operations was USD 2.26 compared to USD 1.59 a year ago. For the half year, sales was USD 277,334 compared to USD 210,363 a year ago. Operating loss was USD 1.695 million compared to USD 2.163 million a year ago. Net loss was USD 2.703 million compared to USD 2.217 million a year ago. Basic loss per share from continuing operations was USD 3.72 compared to USD 3.28 a year ago.
Cardax, Inc. is a consumer health company focused on marketing ZanthoSyn, an astaxanthin dietary supplement for inflammatory health. It seeks to monetize CDX-101, the Company's pre-clinical pharmaceutical candidate for cardiovascular inflammation and dyslipidemia, and CDX-301, the Company's pre-clinical pharmaceutical candidate for macular degeneration. CDX-101 is a proprietary astaxanthin prodrug that cleaves following oral administration and delivers astaxanthin to the bloodstream. Astaxanthin is a naturally occurring molecule with safe anti-inflammatory activity that supports cardiovascular health, metabolic health, liver health, joint health, and longevity. It intends to develop zeaxanthin pharmaceutical candidate, CDX-301, for macular degeneration. Zeaxanthin accumulates in the human eye through uptake by a retinal receptor, providing protection against blue light, oxidative damage, and related inflammation that occurs in macular degeneration.
CARDAX, INC. 
