Cardax Inc.’s revenue more than doubled last year as sales of its anti-inflammatory product remained strong in Hawaii and increased in California, Nevada and New York.

The Honolulu-based company, which launched ZanthoSyn in August 2016, generated $1.5 million in sales in 2018 compared with $610,323 in the previous year. Cardax began selling its product to General Nutrition Corp. stores in Hawaii on Jan. 25, 2017, and GNC stores across the U.S. on Aug. 10, 2017.

“The company plans to expand its sales and marketing efforts to other major markets in 2019 as resources permit,” the company said.

Cardax initiated a clinical trial last year to evaluate the effect of low- and high-dose ZanthoSyn on cardiovascular health.

The company finished 2018 with a net loss of $4 million versus a net loss of $2 million in 2017. But its gross profit, which is what it makes after deducting the costs associated with making and selling ZanthoSyn, more than doubled to $811,023 from $335,616.

ON THE MOVE

>> The University of Hawaii Foundation has promoted Julie Inouye to director of development at the John A. Burns School of Medicine. Inouye was associate director of development and alumni engagement since 2016. Her experience also includes 16 years in the financial services industry, serving as president for the Organization of Woman Leaders and as a board member of the Financial Planning Association of Hawaii.