Thank you, Natalie (ph), and good afternoon, everyone, and welcome to the Daxor Annual Shareholder Call. I would like to turn the floor over to our Chief Financial Officer, Robert Michel for some highlights from our financial performance. Bob? Daxor Corporation (NASDAQ:DXR) Q4 2023 Earnings Conference Call March 25, 2024 4:00 PM ET Company Participants Michael Feldschuh - CEO Robert Michel - CFO Conference Call Participants Operator Ladies and gentlemen, thank you for standing by. Good afternoon, and welcom ...

Oak Ridge, TN, March 22, 2024 (GLOBE NEWSWIRE) -- Daxor Corporation (NASDAQ:DXR), the global leader in blood volume measurement technology, announces an investor call to be held on Monday, March 25, 2024, at 4:00 p.m. ET. President and CEO Michael Feldschuh and CFO Robert Michel will also host the call to review financial results and provide an update on corporate developments. After Management's presentation, there will be an opportunity for Q&A. Investors are welcome to submit questions in advance via ema ...

Strong Start to 2024 with Unaudited Revenue Climbing 229.1% in First Two Months of 2024 YoY Oak Ridge, TN, March 18, 2024 (GLOBE NEWSWIRE) -- Daxor Corporation (NASDAQ:DXR), the global leader in blood volume measurement technology, announces today the filing of its Annual Report to Shareholders on Form N-CSR, disclosing its schedule of portfolio holdings as of December 31, 2023. Management reported a NAV of $7.08 per share for fiscal 2023 versus $6.75 for the comparable period in 2022. The unaudited operati ...

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 ...

Financial Data and Key Metrics Changes - Daxor's net assets increased by 37% to $28,969,469 or $6.75 per share as of December 31, 2022, compared to $21,152,719 or $5.24 per share at the end of 2021 [13] - The operating division's value increased by $9.5 million to $26 million at December 31, 2022, from $16,500,000 at December 31, 2021 [32] - The company reported a 59.5% increase in single-use disposable kit sales from 2022 compared to 2021, alongside a total revenue increase of over 20% [40] Business Line Data and Key Metrics Changes - The company continues to invest in research and development, resulting in a net realized loss of $3,264,419 from the operating division [16] - The increase in kit sales does not imply a compression of margins, as revenue is derived from U.S. military contracts and the existing analyzer business [22] Market Data and Key Metrics Changes - Daxor has opened 18 new hospital accounts in 2022, with five more pending in the current year [50] - The company has strong reimbursement for its diagnostic in both outpatient and ambulatory surgical settings, which positively impacts cash flow for hospitals [59] Company Strategy and Development Direction - Daxor aims to commercialize its existing product line while furthering clinical evidence for its novel diagnostics [18] - The company is focused on innovating its next-generation analyzers, which promise to be significantly faster and easier to use [19] - Daxor has partnered with MedAxiom to raise clinical awareness and promote its technology among leading hospital systems [41] Management's Comments on Operating Environment and Future Outlook - Management highlighted the favorable healthcare spending environment post-pandemic, emphasizing the focus on value-based care [86] - The company is addressing inflationary pressures by raising prices on its single-use injection kit from $225 in 2020 to $355 in 2022, with plans for a further increase to $385 [26] Other Important Information - Daxor is pursuing a dual 510(k) CLIA waiver application for its next-generation analyzer, with submission anticipated within 90 days [50] - The company has faced challenges with FDA regulations limiting marketing of unapproved devices, impacting communication with potential clients about new products [51] Q&A Session All Questions and Answers Question: What is the timeline for the new BVA product? - The company is working to submit the 510(k) application within the next 45 to 60 days, aiming for a Q3 launch [50] Question: How many accounts are currently using the BVA? - Daxor reported 18 new accounts opened in 2022, with five more pending [50] Question: What is the reception for the new portable device? - Due to FDA limitations, the company cannot market the new device yet, but there is significant interest from clinicians aware of its development [51] Question: When can the company start reporting as an operating company? - The transition from a financial to an operating company is based on asset percentages, and the company is preparing to address this with the SEC [55][56]

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]