Niagen Bioscience (NAGE) Q2 FY26 earnings call: guidance and Q&A

Seeking updates on the FDA lawsuit, performance and expansion plans for Asia Pacific/Watsons, details on other NR analogs for pharma development, and the potential of the Niagen Plus (IV/injection) business, including pricing strategy.

Management expects a ruling on the FDA motion to dismiss within 2-3 months, confident in the outcome. Watsons sales are strong, with plans for new SKUs and expansion into Taiwan, Korea, and China skincare. Several potent NR analogs exist, with discussions ongoing with larger pharma companies. Niagen Plus is seen as a significant opportunity, superior to NAD IVs, with a pricing solution expected in 2-3 months to make it accessible to average consumers and potentially become a flagship ingredient for clinic franchises.

“We think that within the next 2 or 3 months, we will be able to reduce the price to the clinics and still make it satisfactory for the compound pharmacies and for Niagen and its shareholders to make plenty of profit and bring the price down to the average consumer.”

asked by Ram Selvaraju · answered by Robert Fried

Clarification on the timing and process for requesting and receiving a PRV for NB4168.

The PRV is for rare pediatric diseases and orphan drugs. Once NB4168 receives FDA approval and meets statutory requirements, the company will receive the voucher, which is exchangeable for money (recent transactions $150M-$180M). It incentivizes pharma companies for rare disease drug development.

“Once you receive those designations and you receive approval by the FDA for that drug, there's no reason for the company to not receive that voucher. And once the company receives that voucher, it is exchangeable for money. And the recent transactions we're seeing, it's ranging between $150 million to $180 million for that voucher.”

asked by Jeffrey Cohen · answered by Ozan Pamir

Details on NanoCloud's development, market reception, and broader skincare launch plans.

NanoCloud solves the water-sensitivity issue of Niagen for topical application. Initial limited launch of 3,000-4,000 units sold out quickly, with high repeat purchases and new-to-brand customers, indicating strong demand. Other oil-based skincare products are also in development. The next NanoCloud batch is expected to launch in October/November with a marketing campaign. Discussions are ongoing with global skincare brands for ingredient supply.

“We only made 3,000 or 4,000 of these things, but they sold out very quickly. And what else is encouraging is that many of the customers that bought them repeat purchase and asked when it will be back on the market.”

asked by Jeffrey Cohen · answered by Robert Fried

Whether selling ingredients to beauty companies or developing own products will be the larger long-term driver for skincare, and an update on the second topical product.

The long-term skincare strategy is an economic question, with potential for significant exclusive deals with large skincare companies. Co-exclusive deals are also possible. The second topical product is expected to launch around April of next year.

“I expect that second product to be launched around April of next year.”

asked by Susan Anderson · answered by Robert Fried

Update on retail expansion (Sam's Club, GNC, etc.) and whether the 34% selling and marketing expense is a new benchmark.

Expanding into selected retail outlets like Sam's Club, GNC, Vitamin Shoppe, Sprouts, with a brand campaign featuring celebrities planned for Q4. The company aims for profitable growth, carefully increasing marketing spend for retail and global distribution while maintaining cash flow positive status. The core Tru Niagen business is seen as ripe for expansion, citing Thorne's $3.8 billion sale as a comparable.

“We are going to carefully increase marketing spend, especially as we roll out retail distribution and more global distribution, but always trying to maintain cash flow positive.”

asked by Susan Anderson · answered by Robert Fried

What incremental spending should be expected for NB4168 development.

The company plans to spend a "not very significant amount" for the rest of the year on efficacy studies and IND-enabling work, with first-in-human studies expected next year. The total program cost from today to approval is estimated at $30 million spread over 4 years, which is relatively small for drug development. The strategy is to develop the molecule to a certain point internally to maximize shareholder value before considering spin-outs or partnerships.

“The overall program, if you take it from today to approval, is not so significant like some of the other drug development programs. It's a $30 million spend across -- spread across 4 years versus compared to some of the larger trials you may do, which a single trial would cost more of that.”

asked by Sean McGowan · answered by Ozan Pamir

More details on China cross-border sales traction and the significance of the skincare product approval in Mainland China.

China cross-border sales in 2026 have already surpassed full-year 2025 revenue by May, with significant expected growth from under $1 million in 2025. The skincare product approval in Mainland China is a significant milestone, allowing topical Niagen products to be registered and sold, opening a new market opportunity. The company is working on product registration and potential partnerships for this territory.

“by May, we have already surpassed the revenue that we had in China cross-border, and we expect that business to significantly increase. Last year, it was under $1 million of business in 2025. This year, we expect it to be significantly more.”

asked by William Dezellem · answered by Ozan Pamir