NEW YORK, March 04, 2019 (GLOBE NEWSWIRE) -- Daxor Corporation (NYSE MKT: DXR) an investment company with innovative medical instrumentation and biotechnology operations focused on blood volume measurement today filed a Form N-CSR disclosing its schedule of portfolio holdings as of December 31, 2018.
For the second straight year, Daxor reported that kit sales rose over 18% year-on-year in the cardiology segment, driven by increasing awareness of the value of blood volume analysis to improve heart failure outcomes through reduced mortality and readmissions. A landmark study on the use of the BVA-100 to guide heart failure treatment was published in the Journal of the American College of Cardiology – Heart Failure (“JACC-HF”) in November of 2018. This peer-reviewed study quantified that in the examination of 245 serial patient admissions for heart failure (“HF”) that 30-day readmissions were reduced by 56% and mortality by 82% and that on a 365-day measure mortality was reduced by 86% compared to match controls. Researchers noted that the one year mortality rate was reduced from 35% to less than 5% in the BVA-guided arm.
“We are gratified that results such as this new study are benefiting our sales efforts and we remain focused on accelerating our commercialization strategy”, said Michael Feldschuh, CEO of Daxor. “HF leads to nearly one million hospital admissions a year and is one of the leading costs and killers in the United States.”
The Company reported that it hired a new head of marketing in the summer of 2018 and a new head of sales at the start of 2019. Management intends to further bolster this team by expanding its highly-skilled sales force to increase sales of devices and kits in the coming year as well as exploring additional sales channels through alliances and distribution agreements. In November 2018, the Company announced a joint research program with CHF Solutions (CHFS) to explore the potential synergies between the BVA-100 measurement device and their Aquadex fluid removal system.
In the areas of innovation, research and development, Daxor received funding from the Department of Defense for a research grant to create a next-generation combat-capable blood volume analyzer. In addition, Daxor continues to invest in further research and development and has an active development program focused on the next generation of products beyond the military uses, focused on inpatient and outpatient use. The Company filed new patents relating to its key technology of blood volume measurement and has an active R&D pipeline that is set for further innovations in 2019. “Years of efforts in this area are bearing fruit in the form of both intellectual property and next generation design for our technologies which promise to make our product faster, easier, and more valuable to clinicians, “ said Jonathan Feldschuh, Chief Scientific Officer of Daxor.
About Daxor Corporation
Daxor Corporation is an innovative medical instrumentation and biotechnology company. We manufacture the BVA-100 Blood Volume Analyzer, the first instrument approved by the FDA to provide rapid direct measurement of a patient’s blood volume. We believe that the BVA-100 Blood Volume Analyzer has the potential to transform therapy in a broad range of surgical and medical conditions. It is our goal, working in conjunction with hospitals and clinics, to achieve that possibility. Ultimately the company’s mission is to help hospitals and physicians incorporate Daxor’s BVA-100 diagnostic into standard clinical practice. For more information please visit our website at http://www.daxor.com.
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:
Sr. Managing Partner