August 24, 2020 admin

Daxor Corporation reports a 29.6 Percent Rise in Sales Revenue for Six Months in Filing of Form N-CSR for June 30, 2020

NEW YORK – August 24, 2020 – Daxor Corporation (NYSE MKT: DXR), an investment company with innovative medical instrumentation and biotechnology operations focused on blood volume measurement, filed a Form N-CSR disclosing its schedule of portfolio holdings as of June 30, 2020.

Daxor reported an increase in revenue of 29.6% in the Company’s diagnostic division representing strong strides in the commercialization of its BVA-100 Blood Volume Analyzer. Further sales are expected for the remainder of the year following the Company’s recent distribution agreement with American Medical Depot, a distributor to U.S. Government facilities such as the Veteran’s Administration. Furthermore, the Company was awarded a $1.1 million dollar contract with the Department of Defense for blood volume analyzers intended for combat casualty use.

Management is pleased to report that as of July 31, 2020 the company held net assets of $13,541,192 or $3.36 per share, a result achieved by a combination of market recovery, dividends, hedging proceeds, sales, and capital raise. 

“Sales continue to excel in key areas despite the challenges of COVID-19,” said Michael Feldschuh, CEO and President of Daxor. “Recent additions of new Board members and key personnel to focus on commercialization, engineering, and research are drivers, including the initiation of a multi-center prospective trial in COVID-19 patients and patient enrollment in a randomized control trial for heart failure management at Duke Hospital system.”

Form N-CSR for the period ended June 30, 2020 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 Corporation

Daxor Corporation (NYSE: DXR) is an innovative medical instrumentation and biotechnology company focused on blood volume measurement.  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 has the potential to improve 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 patient outcomes. Our mission is to partner with clinicians to incorporate BVA technology into standard clinical practice and improve the quality of life for patients. For more information, please visit our website at Daxor.com

 

Forward-Looking Statements

Certain 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 risks 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 Contact:
Bret Shapiro
Sr. Managing Partner, CORE IR
516-222-2560
brets@coreir.com