Chromadex Corp (NASDAQ: CDXC) is having an incredibly strong day in the market today, and for good reason. The company reported data with regard to an Alzheimer’s treatment it is working on that led to excitement among investors. Today, we’ll talk about the data, what we’re seeing from CDXC, and what we’ll be watching for ahead.
CDXC Gains Big On Data
As mentioned above, ChromaDex is having an incredibly strong day in the market today, and for good reason. The company announced results from its collaborative research agreement with the NIA and NIH. In a press release issued early this morning, the company announced that the results of this research show that NIAGEN nicotinamide riboside (NR) showed promising results in the treatment of Alzheimer’s disease.
In the announcement CDXC said that NIAGEN prevented neurological damage and improved cognitive and physical function in a new mouse model of Alzheimer’s disease. This new mouse model more closely resembles human Alzheimer’s disease than other mouse models. Previous results showed that Alzheimer’s disease mice models treated with NR had lower levels of amyloid deposits, improved mitochondrial energy production and improved memory. In a statement, Frank Jaksch, founder and CEO at CDXC, had the following to offer:
We are pleased that our collaboration with NIH-NIA resulted in a significant peer reviewed publication in a prestigious journal. We are aware of two human trials on mild cognitive impairment that are in progress. Data from these studies should pave the way for additional human clinical trials.
The above statement was followed up by Robert N. Fried, President and COO at CDXC, here’s what he had to offer:
We will continue to support research that validates NIAGEN as a weapon against conditions associated with aging…
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that it’s important to keep a close eye on the news. That’s because the news ultimately moves the market. In this particular case, the news from Chromadex proved to be overwhelmingly positive. So, it’s no surprise to see that the stock is making a run for the top in the market. Currently (11:15), CDXC is trading at $5.14 per share after a gain of $0.32 per share or 6.64% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on CDXC. In particular, we’re interested in following the company’s continued work to treat Alzheimer’s and other age related conditions. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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