Oak Ridge, TN, March 11, 2024 (GLOBE NEWSWIRE) -- Daxor Corporation (NASDAQ:DXR), the global leader in blood volume measurement technology today announces the expansion of blood volume analysis (BVA) in three new hospitals through new analyzer purchases, and the utilization of Daxor's ezBVA Lab service. These new acquisitions further fuel BVA sales growth and underscore its clinical relevance. New client and services wins include: BVA analyzer purchase at a 735-bed non-profit, tertiary, research and academi ...

Only Daxor's BVA Diagnostic Was Shown to Accurately Reflect Blood Volume Compared to Inferior Surrogates Oak Ridge, TN, March 08, 2024 (GLOBE NEWSWIRE) -- Daxor Corporation (NASDAQ:DXR), the global leader in blood volume measurement technology, today announces new data from Duke University Medical Center validating the benefits of blood volume analysis (BVA) in optimizing individualized therapy for heart failure patients with impaired renal function. Data were presented on 259 patients from three centers at ...

Daxor's ezBVA Lab Service Plays a Significant Role in Driving Growth and Fostering Widespread Adoption Oak Ridge, TN, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Daxor Corporation (NASDAQ:DXR), the global leader in blood volume measurement technology today announces the expansion of blood volume analysis (BVA) through new analyzer purchases and the utilization of Daxor's ezBVA Lab service. These Q4 2023 initiatives have all played a significant role in driving the growth and the widespread adoption of BVA providing a ...

RB Diagnostic is non-invasive. It is compared to many other solutions, inexpensive. It is rapid and set to be become far quicker and easier to perform with our next generation analyzer. And it allows care teams to solve the significant challenge of accurately managing the fluid levels of patients. And that's true whether it's in heart failure for both inpatient and outpatient care, where I would like to add that the company has excellent reimbursement from both public and private insurance or in hospitalize ...

Financial Data and Key Metrics Changes - Daxor's net assets increased by 35.3% to $19.62 million or $4.85 per share as of June 30, 2022, compared to $14.49 million or $3.59 per share at June 30, 2021 [34] - There was a net decrease of 7.3% in net assets compared to $21.15 million or $5.24 per share at December 31, 2021 [34] - The company reported a net dividend income of $130,943 and net unrealized gains on investment activity of $1.37 million for the six-month period ended June 30, 2022 [36] Business Line Data and Key Metrics Changes - The blood volume diagnostic operating division saw a 92.6% increase in unaudited revenues for the year ended June 30, 2022, compared to the same period in the prior year [17] - Revenue growth was driven by sales and leasing of capital equipment, orders for single-use disposable blood volume diagnostic kits, and U.S. Department of Defense orders [18] - The number of single-use Volumex diagnostic kits rose by 49.4% in the first half of 2022 compared to the first half of 2021 [18] Market Data and Key Metrics Changes - The current population of heart failure patients in the U.S. is 6 million, expected to rise to over 8 million in the next six years [20] - Hospitals are under increasing pressure to improve outcomes and contain costs, which aligns with Daxor's focus on blood volume management [12] Company Strategy and Development Direction - Daxor is focused on balancing growth and commercialization with strategic investments in next-generation systems, which are the most important technology launch in 20 years [8] - The company aims to integrate blood volume analysis into the central care pathway for patients, enhancing clinical decision-making and improving outcomes [90] - Daxor has partnered with MedAxiom to raise the profile of its products and improve sales through consulting for cardiovascular care [28] Management's Comments on Operating Environment and Future Outlook - Management noted that hospital systems are increasingly sensitive to health economics, which has not hindered sales but rather increased interest in Daxor's value proposition [67] - The company anticipates submitting data to the FDA for 510(k) clearance of its next-generation blood volume analyzer, with expectations for approval in early 2023 [60] - Management expressed confidence in the new technology's ability to fulfill the aims of the 510(k) process, showing equivalency to existing cleared devices [61] Other Important Information - Daxor has received over $2 million in military contracts and is in the process of completing Phase II contracts with the U.S. Air Force [25] - The company has an active R&D and patent portfolio, with several patents pending and a focus on integrating clinical decision support software into its diagnostics [32] Q&A Session Summary Question: What makes the new BVA different from the original device? - The new system is portable, provides results within 15 minutes, and is designed for bedside use, significantly improving workflow and usability [44][45] Question: Will the new device suppress sales of current devices? - Current sales have not been suppressed; there has been growth in utilization at existing accounts due to enhanced clinical and sales support [51][53] Question: Are there any macroeconomic challenges affecting sales? - Despite economic concerns, the company has seen a 9.1% increase in volume and hospitals are more eager to hear about value propositions [66][67] Question: Have there been supply chain issues? - Daxor has not faced significant supply chain issues but has experienced inflationary pressures related to staffing costs [72] Question: What is the current number of machines in use? - The company has over 65 accounts at different hospitals across the U.S. and has placed 12 new devices in the first half of 2022 [80][81]