THIRD HOSPITAL JOINS MULTICENTER COVID-19 BVA-100® BLOOD TEST STUDY

Rhea-AI Summary

Daxor Corporation (NYSE: DXR) announced a collaboration with Wake Forest Baptist Health for an ongoing trial to treat COVID-19 patients using its BVA-100 technology. The participation of Wake Forest School of Medicine underscores the significance of Daxor's blood volume measurement in understanding COVID-related volume derangements. Daxor's BVA test is the first FDA-cleared diagnostic for assessing blood volume status and capillary leak rates, which are associated with higher mortality. Prior clinical trials revealed a 66% reduction in ICU mortality when utilizing BVA testing.

Positive

• Wake Forest Baptist Health joins ongoing trials, enhancing credibility.
• The BVA-100 has proven to reduce ICU mortality by 66%.
• The technology offers the only FDA-cleared diagnostic for blood volume measurement.

Negative

• None.

NEW YORK, Nov. 19, 2020 (GLOBE NEWSWIRE) -- Daxor Corporation (NYSE MKT: DXR), an investment company with innovative medical instrumentation and biotechnology operations focused on blood volume measurement, today announced that Wake Forest Baptist Health will participate in an ongoing trial to treat patients hospitalized with COVID-19 utilizing Daxor's BVA-100 (Blood Volume Analyzer, "BVA") technology. Wake Forest School of Medicine is based in Winston-Salem, North Carolina, and is set to enroll patients under the leadership of Ashish K. Khanna, MD.

“Having such a prestigious academic and research center such as Wake Forest join the ongoing multi-center trial alongside Oregon Health & Science University and NYU Langone Health highlights the importance of BVA technology in helping clinicians understand COVID-based volume derangements to improve care and outcomes,” said Michael Feldschuh, CEO and President of Daxor. “SARS-CoV-2 attacks the endothelium causing volume derangement and capillary distress. Daxor’s BVA test is the first and only diagnostic test cleared by FDA that offers insights into patients’ capillary leak rate via its albumin tracer in addition to 98% accurate measure of plasma and red cell volume. Elevated leak rate has been shown as a prognostic marker associated with higher mortality, knowledge of it and volume status can be used to triage patients, guide treatment, and measure response to interventions.”

“We hope this important trial will help inform volume status and provide crucial insights into COVID-19 pathophysiology,” said Dr. Khanna, Associate Professor in Anesthesiology, Section Head for Research, Section in Critical Care Medicine, Wake Forest School of Medicine.

Daxor is the global leader in blood volume measurement technology, utilized by major hospitals in the United States. In a randomized control trial (RCT) published in the journal Shock, the BVA-100^® has shown to reduce ICU mortality by 66% (P=0.03) and reduce ventilator days in patients suffering predominantly from acute respiratory distress syndrome and septic shock. Additionally, the analysis showed 44% of BVA test results led to a change in treatment strategy (P=0.004) that care teams would not have performed absent the data from the BVA volume status measure.

About Daxor Corporation

Daxor Corporation (NYSE: 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. 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 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

FAQ

What is the significance of Wake Forest Baptist Health's participation in Daxor's trial for COVID-19?

Wake Forest's involvement adds credibility and highlights the importance of Daxor’s technology in treating COVID-19-related volume issues.

How does Daxor's BVA-100 technology help in treating COVID-19?

The BVA-100 measures blood volume and capillary leak rates, providing crucial insights to guide patient treatment and potentially improve outcomes.

What are the key results from previous trials using Daxor's BVA-100 technology?

Previous studies indicated a 66% reduction in ICU mortality and significant changes in treatment strategies based on BVA test results.

Is the BVA-100 technology FDA approved?

Yes, the BVA-100 is the first FDA-cleared test for accurate blood volume measurement.