ChromaDex up on JV to sell anti-ageing drug in China, raises funds

Niagen Bioscience

03/10/2022 15:57

** Shares of dietary supplement co ChromaDex Corp  CDXC.O 
rise 5.7% to $1.30 
    ** Co establishes a joint venture through its unit with Hong
Kong Taikuk (China) Group to commercialize anti-aging supplement
Tru Niagen and other products containing Niagen in China
 urn:newsml:reuters.com:*:nBw2p9h6ba
    ** Also enters into a private placement for sale of shares
worth $3.1 mln led by existing strategic investors
    ** Co to sell 2.5 mln shares at $1.25 per/share, a 1.6%
premium to Friday's close
    ** Co has 68.3 mln shares outstanding and market cap of $84
mln, as of Friday's close - Refinitiv data 
    ** Including session's gain, stock down ~65% YTD
 (Reporting by Pratik Jain)
 ((Pratik.Jain@thomsonreuters.com;))