Daxor(US:DXR)2023-03-06 20:04Financial 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]