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Why Are ChromaDex Shares Trading Lower On Wednesday?

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  • ChromaDex Corp (NASDAQ: CDXC) dropped over 20% during the premarket despite its announcement over plans to appeal a court ruling issued by the U.S. District Court for the District of Delaware in a patent infringement lawsuit against Elysium Health.

  • Related: ChromaDex Shares Jump on Tru Niagen's Launch In Walmart Stores.

  • The Company licenses two patents from the Trustees of Dartmouth College, giving it exclusive rights to the NAD precursor nicotinamide riboside (NR) commercialized as the flagship ingredient Niagen.

  • Niagen has regulatory acceptance from the FDA, Health Canada, the European Commission, and the Therapeutic Goods Administration of Australia, the Company says.

  • "ChromaDex retains a strong and growing intellectual property portfolio for nicotinamide riboside," the Company said in a statement.

  • A separate lawsuit filed by the ChromaDex against Elysium in the U.S. District Court for the Central District of California is expected to go into trial on September 21.

  • The outcome of ongoing litigation with Elysium "could materially harm our business, results of operations, financial condition, and cash flows," the Company mentioned in its latest 10-Q filing.

  • Price Action: CDXC shares are down 22.60% at $5.39 during the premarket session on the last check Wednesday.

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