LOS ANGELES - ChromaDex Corp. (NASDAQ:CDXC) has announced the widespread availability of Niagen IV, its advanced NAD+ therapy, now accessible at more than 200 Restore Hyper Wellness locations throughout the United States. This expansion marks a significant step in increasing access to the therapy, aimed at enhancing cellular health and supporting metabolic processes that decline with age and stress.
Niagen IV has been shown to outperform traditional NAD+ IV treatments in a pilot clinical study, offering better tolerability, a 75% reduction in infusion time, and a 20% increase in whole blood NAD+ levels three hours post-infusion. These results suggest that Niagen IV could be a more efficient option for those seeking to improve their cellular health.
The product is compounded and distributed by Wells Pharma of Houston, an FDA-registered 503B outsourcing facility, ensuring pharmaceutical-grade quality. Niagen IV is exclusively available for medical clearance clinics, such as Restore Hyper Wellness, a network known for its commitment to science-driven care and a holistic approach to wellness.
Rob Fried, CEO of ChromaDex, expressed satisfaction with the partnership with Restore Hyper Wellness, highlighting the science-based advantages of Niagen IV. Dr. Rachele Pojednic, Director of Scientific Research & Education at Restore, also noted the enhanced cellular support provided by the therapy compared to traditional NAD+ IV.
The news of this rollout is based on a press release statement and follows ChromaDex's ongoing efforts to establish itself as a leader in NAD+ research and healthy aging solutions. The company's patented ingredient, Niagen, is the foundation of its consumer products and the Niagen IV therapy now offered at Restore Hyper Wellness locations.
For additional information on Niagen IV and clinic availability, interested individuals can visit the Restore Hyper Wellness website or sign up for updates at niagenplus.com. This expansion is part of ChromaDex's broader strategy to make its NAD+ boosting products more widely available to consumers seeking to improve their healthspan.
In other recent news, ChromaDex has experienced noteworthy developments. The company reported a 31% increase in total net sales in its third-quarter financial report, primarily attributed to its flagship product TRU NIAGEN and NIAGEN ingredient sales. The quarterly revenue reached $25.6 million, slightly surpassing analysts' projections. H.C. Wainwright responded to these results by raising the 12-month price target for ChromaDex to $8.00, maintaining a Buy rating on the stock.
Additionally, ChromaDex has appointed a new CFO, Ozan Pamir, who brings significant experience from his previous position as CFO of 180 Life Sciences. Furthermore, due to Marcum LLP's upcoming merger with CBIZ Inc (NYSE:CBZ)., ChromaDex announced a change in its certifying accountant over independence concerns.
On the product front, the successful launch of the Niagen Plus product line has been reported, with the company anticipating a 10-15% year-over-year growth for 2024. In collaboration with Wells Pharma of Houston, ChromaDex is also expanding the distribution of its Niagen product to 14 additional wellness clinics across the United States. These recent developments highlight ChromaDex's ongoing efforts to grow and innovate in its sector.
InvestingPro Insights
ChromaDex Corp.'s (NASDAQ:CDXC) recent expansion of Niagen IV availability aligns with the company's strong financial performance and market position. According to InvestingPro data, ChromaDex has shown impressive growth, with revenue increasing by 9.95% over the last twelve months to $91.67 million. More notably, the company's revenue growth accelerated to 31.21% in the most recent quarter, indicating strong demand for its products.
The market has responded positively to ChromaDex's developments, with the stock price showing a remarkable 356.86% return over the past year. This surge has brought the stock price to 98.73% of its 52-week high, reflecting investor confidence in the company's growth strategy and product offerings like Niagen IV.
InvestingPro Tips highlight that ChromaDex's net income is expected to grow this year, and analysts predict the company will be profitable. This positive outlook is supported by the fact that three analysts have revised their earnings upwards for the upcoming period, suggesting optimism about the company's financial trajectory.
It's worth noting that ChromaDex operates with a moderate level of debt and its liquid assets exceed short-term obligations, indicating a stable financial position as it expands its Niagen IV distribution. This financial stability is crucial as the company scales its operations and invests in growth initiatives like the partnership with Restore Hyper Wellness.
For investors seeking a deeper understanding of ChromaDex's potential, InvestingPro offers 19 additional tips that could provide valuable insights into the company's investment profile.
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