ChromaDex Corp (NASDAQ: CDXC) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced the launch of a new product, exciting investors and sending the stock screaming for the top. Today, we’ll talk about:
- The new product;
- what we’re seeing from CDXC as a result; and
- what we’ll be watching for ahead.
CDXC Rockets On Product Launch
As mentioned above, ChromaDex is having a great start to the trading session in the pre-,arket hours this monring after the company nnounced the launch of a new product. In a press release issued early this morning, the company said that it has launched TRU NIAGEN PRO (60ct, 300mg per capsule).
In the release, CDXC pointed to the positive remarks offered by doctors surrounding TRU NIAGEN PRO. In fact, in a statement, Dr. Phillip Milgram, Medical Director of the NAD Treatment Center in San Diego, CA, had the following to offer:
I have dedicated my career to increasing patients’ NAD levels for multiple medical indications, health and longevity. We are very excited to offer Tru Niagen Pro through our clinic. The growing body of science pointing to the importance of maintaining NAD levels via the use of daily supplementation of clinically proven precursors such as NR continues to build, and we are delighted to be associated with ChromaDex, the pioneers of NR development. We have a clinically proven dose of NR to deliver an effective increase in NAD in a single capsule.
The above statement was followed up by Dr. Alyssa Dweck, OB/GYN and Assistant Clinical Professor in the Department of Obstetrics, Gynecology, and Reproductive Scients at the Mount Sinai School of Medicine. Here’s what she had to offer:
NAD is required for all cells in the body to function… I recommend Tru Niagen to my patients.
The company also said that it has entered into a new distribution agreement with Natural Partners Fullscript. Under the agreement, the company’s products will be available to network of more than 40,000 healthcare practitioners.
In a statement, Rober Fried, CEO at CDXC, had the following to offer:
We are delighted to be associated with Natural Partners Fullscript. They are the leaders and innovators in the healthcare practitioner channel and will help us bring the Tru Niagen brand to this important and influential community.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. In the case of ChromaDex, the news proved to be overwhelmingly positive. Not only has the company launched a new product, it has also set a strong foundation for that product to succeed in the market. So, I’m not surprised to see that excited investors are sending the stock screaming for the top. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:00), CDXC is trading at $4.00 per share after a gain of $0.35 per share or 9.59% 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 commercial launch of TRU NIAGEN PRO and the revenue growth that comes with it. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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