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

Net Assets Increases to $30.4 Million From $29.0 Million

Oak Ridge, TN, Aug. 28, 2023 (GLOBE NEWSWIRE) -- 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.”