Daxor Corporation Reports a 26.5 Percent Rise in Diagnostic Sales Revenue in Form N-CSR Filing for the Six Months Ended June 30, 2021
30 Agosto 2021 - 9:30AM
Daxor
Corporation (NYSE: 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, 2021.
The Company’s increase in revenue of 26.5% in
the Company’s diagnostic division, represents strong strides in the
commercialization of its BVA-100® Blood Volume Analyzer and eight
additional accounts. In addition, the filing noted that Daxor’s
next-generation point-of-care analyzers utilizing patent-pending
fluorescence technology are on track for production as funded by
the U.S. Department of Defense and slated for release in 2022.
Updates on the initiation of a National Institutes of Health
multicenter prospective randomized control trial in heart failure
management utilizing Daxor’s technology were also given. “Daxor’s
research trial at the VA Hospital System is in excellent shape”,
noted Chief Scientific Officer Jonathan Feldschuh. “We are excited
to update shareholders that this landmark trial has begun and
enrollment is on track.”
Revenue growth was driven by a combination of
the sale and leasing of capital equipment and orders for the
single-use blood volume diagnostics kits for critical care and
heart failure management as well as other indications and
additionally by orders from the U.S. Department of Defense as well
as third-party companies contracting with Daxor to conduct blood
volume analysis on their products. Management also noted that eight
new accounts had been opened since the start of the year in a
variety of avenues including purchase, lease, reference lab use,
and research.
“I am pleased to announce continued double-digit
growth as we remain focused on accelerating our commercialization
strategy despite the ongoing challenges from COVID-19,” said
Michael Feldschuh, CEO and President of Daxor. “To amplify the
reach of our products, two new distributor agreements have been
signed to drive usage in hospitals not covered by our own reps. We
project having a sales team of internal and external reps of over
50 for the second half of this year now that onboarding is mostly
complete. This multi-channel distribution model spearheaded by
Daxor team leader Jean Oertel is anticipated to increase our sales
and facilitate further awareness, adoption and integration of our
much needed and valuable test for use in a broad range of medical
and surgical conditions for both inpatient and outpatient care.” In
recognition of its accelerating sales program, the company
announces that Jean Oertel has been named Senior Vice President of
Commercialization.
As of June 30, 2021 the company held net assets
of $14,493,285 or $3.59 per share, a 7% decrease driven by the
Company’s continued investments in research and development,
commercial sales teams, as well as production facilities for the
next generation blood volume analyzers which are anticipated to
come to market over the next twelve months.
Form N-CSR for the period ended June 30, 2021 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
CorporationDaxor Corporation (NYSE: DXR) is the
global leader in blood volume measurement technology focused on
blood volume testing innovation (organized as an investment company
with fully-owned innovative medical instrumentation and
biotechnology operations). We developed and market the BVA-100®
(Blood Volume Analyzer), the first diagnostic blood test cleared by
the FDA to provide safe, accurate, objective quantification of
blood volume status and composition compared to patient-specific
norms. The BVA technology enhances hospital performance metrics in
a broad range of surgical and medical conditions, including heart
failure and critical care, by informing treatment strategies,
resulting in significantly improved multiple measures of patient
outcomes. 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.
Forward-Looking
StatementsCertain 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 ContactBret
ShapiroSr. Managing Partner, CORE
IR516-222-2560brets@coreir.com
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