ChromaDex Reports Third Quarter 2010 Financial Results

IRVINE, Calif., Nov. 16, 2010 /PRNewswire-FirstCall/ -- ChromaDex Corporation, (OTC Bulletin Board: CDXC) a leader in phytochemical reference standards and contract research, today announced financial results for the third quarter of 2010. On a reported basis calculated in accordance with U.S. Generally Accepted Accounting Principles (U.S. GAAP), ChromaDex announced a net loss attributable to common stockholders of $0.01 per share for the thirteen week period ended October 2, 2010.

As of October 2nd, 2010, cash, cash equivalents, and marketable securities totaled $2,985,632.

"ChromaDex continues to work on implementing its business plan, which included the recent launch of pTeroPure™ pterostilibene as the next generation resveratrol," said Frank Jaksch, CEO and co-founder of ChromaDex. "There are currently 12 products on the market containing pTeroPure pterostilbene and with this increased market adoption we are expecting many more over the next few months, which should give consumers many different options for supplementing with this very promising compound."

Additional Financial Results & Notes

On a reported basis, ChromaDex recorded revenue during the third quarter of 2010 of $1,562,352 as compared to $1,433,086 for the same period in 2009. The net loss attributable to common stockholders for the thirteen weeks ended October 2, 2010, was $883,223 as compared to a net loss of $177,544 for the same period in 2009. The net loss in the third quarter of 2010 was attributable to an increase in share based compensation expenses of $423,764 as compared to $55,947 for the same period in 2009, increased expenses related to marketing and further development of the pTeroPure product line, increased legal and accounting expenses related to registration rights issued in the May 2010 private placement and an adoption of a formal investor relations program to increase market and shareholder awareness.

About ChromaDex

ChromaDex is a leader in the development of phytochemical and botanical reference standards and the creation of associated intellectual property. ChromaDex is committed to sustainable "green chemistry" and provides the dietary supplement, food, beverage, nutraceutical and cosmetic industries with the novel ingredients, analytical tools and services to meet product regulatory, quality, efficacy and safety standards. Among other things, the Company is currently focusing on clinical studies and the commercialization of its new product, pTeroPure™ pterostilbene (www.pteropure.com) as a result of its exclusive worldwide patent rights for pterostilbene. For more information, visit www.chromadex.com or follow ChromaDex on Twitter @ChromaDex.

Forward-Looking Statements

Any statements that are not historical facts contained in this release are forward-looking statements. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements involve risks and uncertainties, including but not limited to: the ability to market, produce and sell the referenced ingredients; risks relating to product and customer demand, market acceptance of our products; the effect of economic conditions both nationally and internationally; the ability to protect our intellectual property rights; the impact of any litigation or infringement actions brought against us; competition from other providers and products; risks in product development; our ability to raise capital to fund continuing operations; the ability to complete transactions; and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. The Company undertakes no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made except as required by law.

SOURCE ChromaDex Corporation