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8-K - PRIMARY DOCUMENT - ChromaDex Corp. | cdxc8k_feb142017.htm |
Exhibit
99.1
ChromaDex Expects to Report Record Fourth Quarter as Revenue
Increased Approximately 29%
- Q4 2016 Revenue is Expected to be Approximately $5.6
Million with Full-Year 2016 Revenue of Approximately $26.8 million
–
IRVINE, Calif., February
14, 2017 – ChromaDex Corp. (NASDAQ: CDXC), an innovator of proprietary health,
wellness and nutritional ingredients, that creates science-based
solutions for dietary supplement, food and beverage, skin care,
sports nutrition, and pharmaceutical products, announced today
preliminary and unaudited revenue for the fourth quarter ended
December 31, 2016 (“Q4 2016”).
The Company expects to report revenue of approximately $5.6 million
for Q4 2016, representing an increase of approximately 29% as
compared to $4.4 million for the fourth quarter ended January 2,
2016. The increase was primarily driven by ingredient revenue, led
by sales of the Company’s patented NIAGEN®
brand nicotinamide riboside.
No single customer accounted for more than 11% of total expected
revenue in Q4 2016.
Full-year
2016 revenue is expected to be approximately $26.8 million, an
increase of approximately 22% as compared to $22.0
million for the
full-year 2015.
Frank
Jaksch, Jr., CEO and co-founder of ChromaDex, commented, “We
enter 2017 with outstanding momentum executing on our business plan
and strategy. We have entered into more than 100 collaborative
pre-clinical and human studies using NIAGEN® with
prestigious universities and research institutes. Many of these
have commenced or will be starting in 2017.”
Mr.
Jaksch continued, “We are now approaching an exciting period
where we expect positive results from several pivotal animal and
human studies to be published in top-tier scientific journals.
Results from these studies, which deepen the validation of
NIAGEN®, its function,
applications and efficacy, will be a key driver in ChromaDex
attracting media attention, building consumer awareness for
nicotinamide riboside, and stimulating new business development
discussions with large consumer product
companies.”
About ChromaDex:
ChromaDex
leverages its complementary business units to discover, acquire,
develop and commercialize patented and proprietary ingredient
technologies that address the dietary supplement, food, beverage,
skin care and pharmaceutical markets. In addition to our ingredient
technologies unit, we also have business units focused on natural
product fine chemicals (known as "phytochemicals"), chemistry and
analytical testing services, and product regulatory and safety
consulting (known as Spherix Consulting). As a result of our
relationships with leading universities and research institutions,
we are able to discover and license early stage, IP-backed
ingredient technologies. We then utilize our in-house chemistry,
regulatory and safety consulting business units to develop
commercially viable ingredients. Our ingredient portfolio is backed
with clinical and scientific research, as well as extensive IP
protection. Our portfolio of patented ingredient technologies
includes NIAGEN®
nicotinamide riboside; pTeroPure®
pterostilbene; PURENERGY®,
a caffeine-pTeroPure® co-crystal;
IMMULINA™,
a spirulina extract; and AnthOrigin™,
anthocyanins derived from a domestically-produced, water-extracted
purple corn. To learn more about ChromaDex, please visit
www.ChromaDex.com.
Forward-Looking Statements:
This
release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities and Exchange Act of 1934, as amended,
including statements related to audited financial results which may
differ from the estimated unaudited financial results disclosed in
this release, financial representations, future results of animal
and human studies of NIAGEN® and the
likelihood of studies to result in positive results, publication or
new business with large consumer product companies. Statements that
are not a description of historical facts constitute
forward-looking statements and may often, but not always, be
identified by the use of such words as "expects", "anticipates",
"intends", "estimates", "plans", "potential", "possible",
"probable", "believes", "seeks", "may", "will", "should", "could"
or the negative of such terms or other similar expressions. More
detailed information about ChromaDex and the risk factors that may
affect the realization of forward-looking statements is set forth
in ChromaDex's Annual Report on Form 10-K for the fiscal year ended
January 2, 2016, ChromaDex's Quarterly Reports on Form 10-Q and
other filings submitted by ChromaDex to the SEC, copies of which
may be obtained from the SEC's website at www.sec.gov. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof, and actual
results may differ materially from those suggested by these
forward-looking statements. All forward-looking statements are
qualified in their entirety by this cautionary statement and
ChromaDex undertakes no obligation to revise or update this release
to reflect events or circumstances after the date
hereof.
Statements in this press release have not been evaluated by the
Food and Drug Administration. Products or ingredients are not
intended to diagnose, treat, cure or prevent any
disease.
ChromaDex Media Contact:
Breah
Ostendorf
Marketing
Director
949-537-4103
BreahO@chromadex.com
ChromaDex Investor Contact:
Andrew
Johnson
Director
of Investor Relations
949-419-0288
AndrewJ@chromadex.com
END
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