Cardax stock jumps after expanding ZanthoSyn to Asia

Cardax Inc.’s stock soared 72 percent Tuesday after announcing over the weekend that it was expanding its anti-inflammatory product ZanthoSyn into Asia.

Shares of the Honolulu-based company rose 13.7 cents to close at 32.7 cents, its highest level since reaching 34 cents on Dec. 5. The stock’s 52-week closing low was 9 cents on March 16. The volume on Tuesday was 214,763 shares, more than double its average daily volume of 75,435 shares. The market was closed Monday for Presidents Day.

Cardax said in its Saturday announcement that it had signed a purchase agreement with Health Elite Club Ltd. of Hong Kong to distribute ZanthoSyn in China, Hong Kong, Macau and Taiwan. Cardax also said that ZanthoSyn was the top-selling product in Hawaii GNC stores in the fourth quarter. Cardax began selling ZanthoSyn at Hawaii GNC stores in January 2017 and then began rolling out the product nationwide at GNC stores in August.

Cardax is scheduled to release its fourth-quarter and full-year earnings next month.