In addition to the sale, Jaksch exercised options to acquire 50,001 shares at a price of $3.66 per share, amounting to a total of $183,003. Following these transactions, Jaksch holds 244,179 shares directly. Additionally, he has an indirect ownership of 2,075,052 shares through Black Sheep, FLP, a partnership where he and Tricia A. Jaksch are co-general partners.ChromaDex, headquartered in Los Angeles, specializes in medicinal chemicals and botanical products. The company, currently valued at $470 million, trades at a high P/E ratio of 309. Discover more insights and 15 additional ProTips with a InvestingPro subscription. The company, currently valued at $470 million, trades at a high P/E ratio of 309. Discover more insights and 15 additional ProTips with a InvestingPro subscription.
In addition to the sale, Jaksch exercised options to acquire 50,001 shares at a price of $3.66 per share, amounting to a total of $183,003. Following these transactions, Jaksch holds 244,179 shares directly. Additionally, he has an indirect ownership of 2,075,052 shares through Black Sheep, FLP, a partnership where he and Tricia A. Jaksch are co-general partners.
ChromaDex, headquartered in Los Angeles, specializes in medicinal chemicals and botanical products.
In other recent news, ChromaDex has reported a 31% increase in total net sales, reaching $25.6 million in its third-quarter financial report, primarily due to the sales of its flagship product TRU NIAGEN and NIAGEN ingredient. H.C. Wainwright upgraded the 12-month price target for ChromaDex to $8.00, maintaining a Buy rating. On the legal front, ChromaDex has amended its agreement with Dartmouth College, waiving $3.5 million in previously accrued licensing and royalty fees, contingent on securing a bond for a patent infringement lawsuit against Elysium Health, Inc.
In other operational updates, ChromaDex has expanded the availability of its advanced NAD+ therapy, Niagen IV, to over 200 Restore Hyper Wellness locations across the United States. The company also welcomed a new CFO, Ozan Pamir, and announced a change in its certifying accountant due to Marcum LLP's upcoming merger with CBIZ Inc (NYSE:CBZ).
Finally, ChromaDex successfully launched the Niagen Plus product line and is expanding the distribution of its Niagen product to 14 additional wellness clinics across the United States, in collaboration with Wells Pharma of Houston. These are the recent developments in ChromaDex's ongoing efforts to grow and innovate in its sector.
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