Sumary of Why ChromaDex Stock Is Sinking Today:
- The initial decline stemmed from Tuesday’s decision by the U.S. District Court of Delaware to grant a summary judgment to Elysium Health, invalidating two of ChromaDex’s patents for vitamin B3 supplement Niagen.
- It reported net sales of $15.4 million for its flagship product Tru Niagen in the second quarter, 87% of total revenue.
- In addition, ChromaDex’s pipeline centers on nicotinamide riboside, the chemical name for Niagen.
- The company has registered 49 clinical studies evaluating the drug.