Daxor Corporation Announces a 49.4% Increase In Its Single-Use Diagnostic Kits Year-Over-Year and Further Acquisitions of its BVA-100® Blood Volume Analyzer by Leading Medical Centers Throughout the U.S.

Rhea-AI Summary

Daxor Corporation (Nasdaq: DXR) reported a 49.4% increase in year-over-year sales of its single-use diagnostic kits. The company also achieved a 10.4% growth in sales from Q1 to Q2 2022, benefitting from new accounts and increased capital equipment purchases. Recent successes include a major acquisition at a leading Illinois academic center and expansion within a major South Carolina healthcare organization servicing 1.5 million patients. Ongoing clinical studies and contracts with the U.S. military are not included in these figures but are contributing additional revenue.

Positive

• 49.4% year-over-year increase in sales of diagnostic kits.
• 10.4% growth in sales from Q1 to Q2 2022.
• New major client acquisition in Illinois Medical District.
• Expanded use within the largest healthcare organization in South Carolina.

Negative

• None.

Oak Ridge, TN, July 27, 2022 (GLOBE NEWSWIRE) -- Daxor Corporation (Nasdaq: DXR), the global leader in blood volume measurement technology, announces today an unaudited increase of 49.4% in sales of its single-use diagnostic kits by volume on a year-over-year basis, driven by a combination of the purchase and leasing of capital equipment, reference lab use, and the opening of twelve new commercial and academic accounts. Increase in single-use diagnostic kit sales grew an additional 10.4% in Q2 2022 over Q1 2022 reflecting continuing momentum. Sales reports a growing pipeline of additional acquisitions at major medical centers across the U.S. planned for the remainder of this year.

“Now that COVID restrictions have relaxed, our sales team has resumed daily on-site visits to drive acquisitions and implementation of our BVA-100 system including a new major win at a nationally ranked academic center in the Illinois Medical District,” said Jean Oertel, Sr. Vice President of Commercialization and Customer Experience at Daxor. “We have also expanded utilization with an additional capital purchase within the largest healthcare organization in South Carolina serving close to 1.5 million patients annually in a market area that covers 50% of the state.”

Michael Feldschuh, President and CEO of Daxor said, “I am proud of our continued double-digit growth as we remain focused on accelerating our commercialization strategy under Jean’s leadership. Daxor has also completed clinical studies on behalf of a major pharmaceutical company as well as continued execution of its contracts with the U.S. military. These activities are not reflected in the above numbers and generated additional revenue for the company.”

Daxor manufactures the BVA-100^® diagnostic which provides precise, inexpensive, objective measurement of blood volume status and composition, providing clinicians with actionable results to optimize fluid management and improve patient outcomes while driving substantial cost savings throughout the healthcare system.

About Daxor Corporation

Daxor Corporation (Nasdaq: DXR), is the global leader in blood volume measurement technology focused on blood volume testing innovation. 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. Over 60,000+ tests have been performed at leading hospital centers across the U.S., enhancing hospital performance metrics in a broad range of surgical and medical conditions, including significantly reducing mortality and readmissions in heart failure and critical care. Daxor has several ongoing multicenter trials in the areas of COVID-19 and heart failure treatment with support from the NIH and is under contract developing analyzers to improve combat casualty care with the U.S. Department of Defense. 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 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 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 Contact:
Bret Shapiro
Sr. Managing Partner, CORE IR
1-516-222-2560
brets@coreir.com

FAQ

What is the recent sales growth percentage for Daxor (DXR)?

Daxor reported a 49.4% increase in sales of its single-use diagnostic kits year-over-year.

How did Daxor's sales perform in Q2 2022 compared to Q1 2022?

Sales in Q2 2022 grew an additional 10.4% compared to Q1 2022.

What new accounts has Daxor acquired recently?

Daxor opened twelve new commercial and academic accounts, including a major win in the Illinois Medical District.

What is the impact of Daxor's ongoing contracts with the U.S. military?

These contracts are generating additional revenue for Daxor, not reflected in their sales numbers.