Daxor Corporation Reports a 20.64 Percent Increase in Diagnostic Test Kits Revenue From Prior Year Period in Form N-CSR Filing for the Six Months Ended June 30, 2023
29 August 2023 - 6:05AM
Daxor Corporation (Nasdaq: DXR),
the global leader in blood volume measurement technology, announces
today it filed Form N-CSR disclosing its schedule of portfolio
holdings for the six-months ended June 30, 2023.
The unaudited financials reported included an
increase in revenue of 20.64 percent in the Company’s diagnostic
test kits compared to the same period from 2022 represents strong
strides in the commercialization of its BVA-100® Blood Volume
Analyzer through a combination of the purchase and leasing of
capital equipment, the launch of Daxor’s ezBVA Lab service, and the
opening of eight new commercial and academic accounts during the
past six- months.
The Company is executing on a new $1.1 million
contract from the U.S. Department of Defense, which it received at
the start of Q3, for additional capabilities to its next-generation
analyzer. Daxor anticipates submission and review by the FDA of its
next generation analyzer under a 510(k)/CLIA-waiver dual pathway by
the end of the year with a projected launch of the new system in
early 2024.
As of June 30, 2023, the company held net assets
of $30,359,013, an increase from $28,969,469 as reported at the end
of FY 2022, reflecting assets raised, commercial and grant revenue,
and the Company’s continued investments in research and
development, as well as production facilities for the next
generation blood volume analyzers.
“I am pleased to report that in the past six
months, we have made important breakthroughs by balancing our
growth in commercialization with strategic investment fueling the
development of our next generation systems,” said Michael
Feldschuh, CEO and President of Daxor. “The strong trend in
healthcare is towards individualized and cost-effective care. Our
BVA diagnostic is a non-invasive and inexpensive blood test which
allows care teams to solve the significant challenge of accurately
managing the fluid levels of patients, whether it is in the heart
failure clinic or the hospitalized heart failure patient in the
ICU. Studies published and presented are proving just how exciting
the potential for this approach is. Reducing mortality, lowering
complications, reducing hospital resource use and length of stay
with a non-invasive, 98% accurate test is achievable with our
patented technology and promises even greater adoption with the
release of our next-generation systems undergoing validation
studies for submission to the FDA.”
Form N-CSR for the period ended June 30, 2023 is
available on the Securities and Exchange Commission (SEC) website
at www.sec.gov and on the Company’s website at Daxor.com.
About Daxor
Corporation
Daxor Corporation (Nasdaq: DXR), is the
global leader in blood volume measurement technology focused on
blood volume testing innovation. We developed and market the
BVA-100® (Blood Volume Analyzer), the only diagnostic blood
test cleared by the FDA to provide safe, accurate, objective
quantification of blood volume status and composition compared to
patient-specific norms. Over 65,000+ tests have been performed at
leading hospital centers across the U.S., enhancing hospital
performance metrics in a broad range of surgical and medical
conditions, including significantly reducing mortality and
readmissions in heart failure and critical care. Daxor has several
ongoing trials in the areas of heart failure treatment with support
from the NIH and is under contract developing analyzers to improve
combat casualty care with the U.S. Department of Defense. Daxor's
mission is to advance healthcare by enabling optimal fluid
management with blood volume analysis. Daxor’s vision is optimal
blood volume for all. For more information, please visit our
website at Daxor.com. Sign up to receive news on Daxor’s
innovative technology HERE.
Forward-Looking Statements
Certain statements in this release may include
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including without
limitation, statements regarding the impact of hiring sales staff
and expansion of our distribution channels. Forward-looking
statements are predictions, projections and other statements about
future events that are based on current expectations and
assumptions and, as a result, are subject to risks and
uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this
release, including, without limitation, those risk associated with
our post-market clinical data collection activities, benefits of
our products to patients, our expectations with respect to product
development and commercialization efforts, our ability to increase
market and physician acceptance of our products, potentially
competitive product offerings, intellectual property protection,
FDA regulatory actions, our ability to integrate acquired
businesses, our expectations regarding anticipated synergies with
and benefits from acquired businesses, and additional other risks
and uncertainties described in our filings with the SEC.
Forward-looking statements speak only as of the date when made.
Daxor does not assume any obligation to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise.
Investor Relations Contact:Bret ShapiroSr.
Managing Partner, CORE IR1-516-222-2560brets@coreir.com
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