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What helped Chromadex Crop (CDXC) shine among biotech stocks?

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Chromadex Crop (CDXC), the nutriceutical company attained a significant movement in the stock price on Thursday 25 Feb. The shares are up by more than 90%, with an average volume of 523,511 shares being traded. It’s a global bioscience company devoted to healthy aging and it has its own modified version of supplements such as Spirulina and B3. The team consists of world-renowned scientists, the pioneers in research on nicotinamide adenine dinucleotide (NAD), levels of which decline with age.

How ChromaDex Made it Through

According to the press release of the company it’s the effortsof the company which pulls off such promising results.  The clinical trials of phase 3 of nutritional protocol helps in treating covid-19 and significantly reduces the recovery time. Along with this, the company entered into a securities purchase agreement with a private placement for the sale of $25.0 of its common stock. The purchase agreement with the private placement provided ChromaDex with added resources which accelerated the growth.

ChromaDex Potential

Since the start of corona virus pandemic there are industries which suffer whilst there are industries which made it throughout the pandemic. Industries related to health and nutrition went up, particularly the companies which started off researching regarding the treatment or reducing the affects of covid-19. Though the spread of pandemic got slower yet people are highly sensitive with it and it will take long to depart from their minds. Bottom line is, industries working in lines with covid-19 have clear growth prospects and they will keep up rocketing in the stock markets.

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