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Daxor (NASDAQ:DXR) Stock, Option Chain

Daxor

Daxor Corp is a medical instrumentation and biotechnology company focused on blood volume measurement. The company develops and markets 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 in a broad range of medical conditions.

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Daxor Corp

Health Care

General

On Friday, Daxor Announced That Following Discussions With FDA, The Company Has Decided To Withdraw Its Current Dual 510(k)/CLIA-Waiver Application And Resubmit Focused 510(k) Application

Biotech

Daxor Announces Review Published In Cardiorenal Medicine Highlighting The Role Of Blood Volume Analysis In Enhancing Care And Outcomes For Cardiorenal Syndrome; BVA Improves Precision In Diuretic And Red Cell Therapies For Personalized Treatment

Ascendiant Capital analyst Edward Woo maintains Daxor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXR#NASDAQ">DXR</a>) with a Buy and raises the price target from $24.5 to $24.75.

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Analyst Ratings

Ascendiant Capital Maintains Buy on Daxor, Raises Price Target to $24.75

The SBIR Matching Fund Award Will Drive Our Innovation, Commercialization Efforts, and Job Creation
Oak Ridge, TN, Sept. 05, 2024 (GLOBE NEWSWIRE) -- <a href="https://www.globenewswire.com/Tracker?data=37FrEKeBvbQ-P-YYzyjHzMBuboUnL6IlYv_qh6VtLpluOIB2B-LEblUq9HaynekqKBziJ1XDTYUj8kbUQu3_G17-2cZDx55lnL4Z9z9lsdE=">Daxor Corporation</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXR#NASDAQ">DXR</a>), the global leader in blood volume measurement technology, today announces Launch Tennessee (LaunchTN) awarded Daxor Corporation a $300K SBIR matching fund to advance its next-generation point-of-care blood volume analyzer, building on Daxor's Phase II award from the Defense Health Agency.

Contracts

Daxor Receives $300K Matching Fund Award From Launch Tennessee To Will Drive Innovation, Commercialization Efforts, And Job Creation

Dear Valued Shareholders,
I am pleased to present our mid-year update for our unaudited first half results of 2024, highlighting Daxor Corporation's remarkable progress and financial performance. Our commitment to innovation in blood volume analysis (BVA) technology continues to drive growth and create value for our stakeholders.
Financial Highlights: I am thrilled to report that our financial position has strengthened significantly. Our Net Asset Value (NAV) has increased to $6.75 per share, up from $6.33 per share at this time last year. More impressively, our unaudited revenue for the first half of 2024 has more than doubled compared to the same period in 2023, marking a year-on-year growth exceeding 100%. This substantial increase is attributed to rising sales from existing customers and the addition of fourteen new accounts so far this year, already surpassing the twelve new accounts added in 2023.
Our Operating Division is making significant strides towards profitability. The net cash investment for the first half of 2024 was $1.297 million, a substantial reduction from $2.445 million in the first half of 2023. This improvement comes despite increased spending on sales expansion and R&amp;D for our upcoming product launch, demonstrating our commitment to efficient capital allocation.
Looking ahead, we remain confident in achieving operational positive cash flow by the end of Q4 2024, driven by our commercial growth and newly awarded government contracts.
Expansion and Recognition: Our BVA technology continues to gain traction nationwide. Notable achievements include:
<ol>
<li>Launch of our BVA program at the largest integrated network in the Mid-South.</li>
<li>Expansion to three new facilities for cardiac care, reflecting growing momentum for our technology on the East Coast.</li>
<li>New hospital account at a leading Chicago hospital for heart failure and general cardiology care. &nbsp;</li>
</ol>
Government Contracts: We have secured additional significant government contracts validating the importance of BVA. The work on these contracts have begun as of August 1st, and revenues from them will flow in the next 24-months:
<ol>
<li>$1.9 million contract from the U.S. Air Force for developing our next-generation tracer system.</li>
<li>$550,000 contract from the U.S. Defense Health Agency for enhancing our point-of-care blood volume analyzer.</li>
</ol>
These contracts not only provide funding, but also underscore the potential applications of our technology in both civilian and military settings. Product Development: We continue to work closely with the FDA towards final approval of our next-generation point-of-care blood volume analyzer along the 510(k) pathway. This new system is three times faster than our existing model and capable of completing the diagnostic test entirely at the bedside. We anticipate this advancement will significantly increase utilization at existing accounts and accelerate the opening of new accounts across the country for both inpatient and outpatient use.
Strategic Acquisition: In a move to enhance our product offerings and improve margins, we acquired Volumex&#xAE;, Megatope&#xAE;, and Glofil&#xAE; from our existing supplier in March. This acquisition is expected to significantly improve our margins and drive increasing revenue through the introduction of new products to our growing customer base.
Research and Development: Recent studies have demonstrated the clinical benefits of our BVA-100&#x2122; diagnostic in ambulatory heart failure patients for measuring congestion, further solidifying the scientific foundation of our technology.
Leadership Enhancement: We welcomed Dr. John L. Jefferies as our new Chief Medical Officer in April, bringing valuable expertise to our leadership team.
In conclusion, the first half of 2024 has been a period of substantial growth and achievement for Daxor Corporation. Our financial performance, technological advancements, and strategic moves have positioned us strongly for continued success. We remain committed to our mission of and look forward to building on this momentum in the second half of the year and beyond.
Thank you for your continued support and trust in Daxor Corporation. Sincerely,
Michael Feldschuh CEO &amp; President, Daxor Corporation

Guidance

Daxor Corporation CEO Michael Feldschuh Delivers Mid-Year Corporate Update, Reports Significant Financial Growth, Secures New Government Contracts, And Announces Strategic Acquisitions In Shareholder Letter

Daxor Corporation shares are trading higher after the company was awarded a $1.9 million two-year contract from the U.S. Air Force to develop a point-of-care blood volume analyzer using novel fluorescent tracer and optical sensing technology.

Daxor Corporation Awarded $1.9M Two-Year Contract From U.S. Air Force To Develop Next-Generation Point-Of-Care Blood Volume Analyzer Using Novel Fluorescent Tracer And Optical Sensing Technology

The Hematocrit Feature Will Be Integrated Into A Future Generation Blood Volume Analyzer (BVA)
Oak Ridge, TN, July 24, 2024 (GLOBE NEWSWIRE) -- Daxor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXR#NASDAQ">DXR</a>), the global leader in blood volume measurement technology, today announces that Daxor has received a $550K matching-fund extension from the U.S. Defense Health Agency (DHA) to its Phase II SBIR contract. This additional funding will support adding hematocrit measurement to a future generation blood volume analyzer. The upgrade eliminates the need for hematocrit testing from third-party devices to perform the BVA test.

Daxor Awarded $550K U.S. Defense Health Agency Contract For Added Capabilities To Its Point-Of-Care Blood Volume Analyzer

Daxor's ezBVA Lab Service Emerges as Key Driver for Expansion and Market Penetration
Oak Ridge, TN, July 11, 2024 (GLOBE NEWSWIRE) -- <a href="https://www.globenewswire.com/Tracker?data=GGZxs_xL4_itEquYWjig0_-KgM9ac6mF91QNWxUowgsaBOjh4mJ_DpfcorKPYW_X6120GH1OXxmlXafDKwKI3pXWpVjfuItEt8b46lZOFhY=">Daxor Corporation</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXR#NASDAQ">DXR</a>), the global leader in blood volume measurement technology, today announces the expansion of blood volume analysis (BVA). This growth includes launching a BVA program and increasing adoption of Daxor's ezBVA Lab service - a state-of-the-art CLIA certified facility that provides on-demand, next day blood volume analysis results. The company foresees a strong lineup of developments in the second half of this year, reinforcing its trajectory of accelerated sales growth.
Recent sales wins include:
<ul>
<li>Regional referral center for Northeast Arkansas and Southeast Missouri starts a BVA program.</li>
<li>Covenant Health affiliate, a 300-bed facility, integrates Daxor's ezBVA Lab service.
<ul>
<li>Leading South Texas teaching hospital and Level 1 trauma center adopts Daxor's ezBVA Lab service.</li>
</ul>
</li>
</ul>

Daxor Corporation's BVA-100 Blood Volume Diagnostic Expands To Three New Centers, Gains Traction Nationwide

Daxor Corporation to Exhibit at AAHFN 20th Annual Meeting, Showcasing Blood Volume Measurement Technology

Expected to Improve Margins and Increase Revenue Streams &nbsp;
Oak Ridge, TN, March 25, 2024 (GLOBE NEWSWIRE) -- <a href="https://www.globenewswire.com/Tracker?data=2YTXKB0DRXR469kFA0XfS3UzoT1HWj3r7RqX3wa1W-uUpFbez0N8yjz2RgqcXzhAKqQ3pjPOfb6qpzKnaycnSw==">Daxor Corporation</a> (NASDAQ:<a href="https://www.benzinga.com/stock/DXR#NASDAQ">DXR</a>), the global leader in blood volume measurement technology, announces today it has entered into a definitive agreement to acquire exclusive and worldwide rights and intellectual property to manufacture from its existing supplier for Volumex and Megatope from privately-held Iso-Tex Diagnostics, Inc. Daxor has also acquired the exclusive rights to Glofil, a drug that measures glomerular filtration rate (GFR), which Iso-Tex has been selling directly to its customer base.
Daxor projects the acquisitions to be cash flow positive and accretive to earnings immediately upon transfer of the manufacturing. This is due to the embedded revenue streams of the drugs and significantly higher margins that will be achieved with internalized production.
"Bringing the manufacturing of these radiopharmaceutical diagnostics in-house at our Oak Ridge facility is a game-changer for Daxor that will substantially increase our margins on blood volume analysis (BVA) test kits as we scale up," said Michael Feldschuh, President and CEO of Daxor. "Acquiring Glofil gives us a new product to cross-sell into our growing customer base."
"Glofil, a trusted GFR diagnostic, shares a user base that overlaps with Daxor's core hospital customers. Adding Glofil allows Daxor to offer a compelling combined product suite for measuring both blood volume and kidney function creating an additional revenue stream for the company," said Senior Vice President of Commercialization and Customer Experience, Jean Oertel.
The deals have been structured with seller-provided financing on favorable terms. No payments will come due until manufacturing is fully transitioned to Daxor over the next 6-9 months. The total transaction value will then be paid in monthly installments over two years from that point, with payments anticipated to be supported by the revenue from Glofil and cost-savings from in-house manufacture of BVA test kits.
The transaction is subject to customary conditions, including receipt of applicable regulatory approvals.

Daxor Corporation Acquires Volumex And Megatope From Its Existing Supplier Along With Glofil To Enhance Existing Suite Of Diagnostics; No Financial Terms Disclosed

<a href="https://www.globenewswire.com/Tracker?data=pnmzrs4TxlkGJo8WVmblElyC0Da443fM0WvhxpsCygH3FqhCh8FCH3r5I3hYCXOP45JQPgTF3L49vL5C3xFTCFzIyD0x7Nw71bOw9y5DM24=">Daxor Corporation</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXR#NASDAQ">DXR</a>), the global leader in blood volume measurement technology today issued a corporate update in a Letter to Shareholders filed in its certified shareholder report on Form N-CSR on March 15, 2023 from CEO &amp; President, Michael Feldschuh. &nbsp;
Dear Fellow Shareholder:
"Concentrate all your thoughts upon the work in hand. The sun's rays do not burn until brought to a focus." - Alexander Graham Bell
We have never been more focused on our mission and goals. Every team member at Daxor sees both the remarkable strides the company has made over the past year solidifying its position as the global leader in blood volume measurement technology and the promise of what our rapid expansion means for both the company and the tens of millions of patients whose care we are eager to significantly improve. In every area 2023 and the strong start of 2024 has shown substantial progress for the company -- in revenue growth, new customer acquisitions, increasing utilization of our products by existing customers, next generation systems completed and under Food and Drug Administration (FDA) review, positive clinical studies, new patents granted and pending, successful National Institutes of Health (NIH) grant awards, Department of Defense (DoD) contracts awarded, and further research and development for groundbreaking products set to launch in subsequent fiscal years. I will detail below more in these areas but first wish to review why our company's mission to commercialize the products that enable optimal patient care is so vital.
Our Mission: Optimal Blood Volume for All
Daxor is focused on profoundly improving outcomes for tens of millions of patients as well as the hospital systems and the payers which support the system, by solving a central problem of medicine – providing highly accurate, convenient, and rapid knowledge of patient blood volume. Managing blood volume is the cornerstone of care for some of the largest areas of patient care – heart failure, sepsis, post-surgical blood loss and syncope to cite a few, but this urgent medical need has long been hampered using proxy or surrogate markers, not direct measurement, of the blood volume. Many of these markers are costly, some are invasive, and none are accurate – in contrast to Daxor's proven 98% accurate system. Care teams cannot effectively treat what they do not correctly diagnose, so our rapid accurate diagnostic test is a game-changer. Every metric that matters is impacted from this first principle of accurate diagnosis – patients receiving optimal care are treated more quickly with better outcomes, have a shorter length of stay in the hospital, suffer fewer costly readmissions, and have lower mortality and fewer complications overall. This leads to better results for patients, hospitals, and insurers on both a health and economic level.
Financial Strength and Increase in Net Asset Value
As of December 31, 2023, Daxor's net assets were $34,010,384 or $7.08 per share as compared to $28,969,469, or $6.75 per share on December 31, 2022. The increase in the net asset value is primarily due to the continued appreciation in value in the operating division. The valuation of the operating division increased $6,000,000 to $32,000,000 on December 31, 2023. For the year ended December 31, 2023, Daxor had a net dividend income of $157,378, net realized gains on investment activity of $603,774. There was a net decrease in the unrealized appreciation on investments, options and securities borrowed of $885,199. As we sold positions during 2023, prior period's significant unrealized gains unwound into the gains for the period. Included in the Net Increase in Net Assets Resulting from Operations of $280,640 is non-cash stock-based compensation expense of $631,701, to provide incentive to employees, officers, agents, and consultants through proprietary interest in the company. There was an investment of $4,552,380 into the operating division relating to spending on research, development, sales and overhead as the Company continues to invest judiciously in research and development for our 2024 product launch, ramping the commercial sales teams, as well as production facilities and inventory for our next generation blood volume analyzers.
Unaudited Operating Company Results: Increasing Revenue, Sales, and New Accounts
<ul>
<li>Revenue increased 31.8% Year on Year for 2023 versus 2022</li>
<li>Revenue in the first 2 months of 2024 has increased 220% Year on Year versus 2023</li>
<li>Number of Kit sold for our Diagnostic System rose 36.2% Year on Year for 2023 versus 2022</li>
<li>Kit revenue in the first 2 months of 2024 has increased 95.7% Year on Year versus 2023</li>
<li>12 New Accounts launched in 2023, with a combination of sales, rentals, and ezBVA Lab services</li>
<li>6 New Accounts launched in the first 2 months of 2024, with a combination of sales, lease, and ezBVA Lab services</li>
<li>New pricing for kits of $460 per dose starting in March of 2024</li>
<li>The operating company increased revenues from the second half of 2023 through additional contracts from the DoD, receiving a 2 year, $1.1M contract and is under consideration for an additional $2.5M of contracts by end of Q2 2024</li>
<li>Management forecasts break-even for the operating company within 12 months if anticipated next gen units are cleared by FDA for sale, new contracts, and sales growth continues &nbsp;</li>
</ul>
Contributing to growth was the launch in June of 2023 of Daxor's ezBVA Lab service for clinical sites that wish to perform blood volume analysis (BVA) testing utilizing the Company's lab services for samples collected without the need for an on-site analyzer. This new service, priced at $965 per test, represents a significant value for customers and is a premium to the sale of test kits which sold for $385. In addition, this new service has helped to accelerate the opening of new accounts and increased the rate of revenue growth as well. As the statistics show, 2024 is off to an even faster pace of growth on all fronts as we see an acceleration of adoption and use of systems even prior to the launch of our next generation systems.
Next Generation Blood Volume Analyzer System
Daxor completed a multi-center study to validate its next generation blood volume analyzer in Q4 of 2023 and submitted it for review with the FDA at year-end under a 510(k)/Clinical Laboratory Improvements Amendments (CLIA) - waiver dual submission pathway. This point-of-care blood volume analysis system, developed under multiple contracts with the DoD, as well as grants from the NIH, is a significant leap forward in our market-leading technology allowing for a blood volume determination at the bedside in as little as 15-minutes. This new system has been validated in our study to be three times faster, simpler, battery powered and capable of being a full point-of-care CLIA-waived device. For us, it is no exaggeration that this next generation analyzer is our most important product launch in twenty years and has the potential to deliver a level of speed, access, and accuracy to fluid management that can broadly change medicine and find acceptance into workflows at a much greater level than our current lab-based system.
Management anticipates that upon approval there will be significant interest and uptake of the new systems based upon preliminary discussions with clinicians helping to develop the technology, as well as an increase in disposable kit sales driven by the speed and convenience of the new system. The speed and convenience of the new system will open additional points of use in the hospital and outpatient setting. Indications such as critical care, where the speed of results is paramount, should see significant growth as a result. Daxor's next generation devices will also be eligible for Phase III funding awards and acquisition by branches of the military for their deployment to aid in combat casualty care as well as further development contracts.
Further Research, Patents, and Clinical Outcomes
Equally important is the progress that Daxor has made in clinical outcomes utilizing our blood volume analyzer. In Q2 2024 the results of a pilot Randomized Control Trial (RCT) in heart failure patients with BVA guided treatment were published in the prestigious Journal of the American College of Cardiology by researchers from the Duke Clinical Research Institute. This RCT documented that an astonishing 68% of heart failure patients were misdiagnosed regarding their volume status and that care teams were ineffective at adjusting these derangements prior to discharge. The researchers citing the outcomes called for funding of a large-scale trial centered around BVA technology because of their findings. In Q3 2024 a Phase I RCT from two Veterans Administration hospitals under NIH funding reported comparable results to the Duke trial – that 70% of patients' total volume or red cell volume was misdiagnosed absent a BVA test. These results are additional objective evidence of the scale of the problem that BVA can solve.
Since the start of 2023, over a dozen new research studies on BVA have been published in peer-reviewed journals or at society conferences. These studies importantly highlighted that BVA can reduce hospital length of stay by 2.6 days on average for heart failure patients, a significant savings, while also improving clinical outcomes. Data on the value of BVA for use in Left Ventricular Assist Device (LVAD) patients and its superiority to pressure-based cardiac implantable devices are also highlights of data that researchers from a variety of institutions published. Regarding recognition and awareness of these developments, a landmark session at the Heart Failure Society of America in 2023 marks the second year in a row that the Annual Meeting will focus on blood volume measurement to improve heart failure care. Last year's meeting was attended by hundreds of physicians which posited that Daxor's BVA provided uniquely valuable data for congestion management, superior utility to existing standards of care of pressure-based measures, and that further study and adoption of it was supported by the growing body of evidence. Sessions of this nature were led by Key Opinion Leaders comparing volume versus pressure measures, representing the growing awareness and substantial need for BVA as an innovative diagnostic to improve heart failure care. Management is pleased at the strong and growing reception that our technology is receiving at these events in special sessions that are not sponsored by Daxor in any way.
Daxor has also received two patents in the past quarter relating to the use of BVA to guide care and has several more patents pending. The family of patents relating the use of BVA and integrating it for optimal care is a focus of the company to add value to and protect our innovation. The company also has an active R&amp;D effort including next-generation tracer technology which has been recognized by the NIH and is now supported by its Catalyze Program offering non-dilutive support for its development.
In Memoriam
It is with a heavy heart that I must report that Mr. Jim Lombard, a director of the Company who served on the board of directors for over twenty years, passed away at the age of 89 last October. Mr. Lombard was smart, dedicated, affable, and quick with a story or recollection to give perspective on the issues at hand before the board.He will be missed, we thank him for his contributions to our mission to improve the lives of patients everywhere and send our condolences to his family.

Management

Daxor Announces As Of December 31, 2023, Daxor's Net Assets Were $34,010,384 Or $7.08 Per Share, Revenue Increased 31.8% Year On Year For 2023 Versus 2022, Provides Corporate Update In Letter To Shareholders

<a href="https://www.globenewswire.com/Tracker?data=lFb5besnZWAtes_d8Mq2DL8apvrXb9O-oxtK12XY5RHayBcL4LWxpxT8qRWxrutS-eUHx1r0p11gYJ6HCZQiN6Qb_YlXpOoADpgPs4X_dDk=">Daxor Corporation</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXR#NASDAQ">DXR</a>), the global leader in blood volume measurement technology today announces the expansion of blood volume analysis (BVA) in three new hospitals through new analyzer purchases, and the utilization of Daxor's ezBVA Lab service. These new acquisitions further fuel BVA sales growth and underscore its clinical relevance. &nbsp;
New client and services wins include:
<ul>
<li>BVA analyzer purchase at a 735-bed non-profit, tertiary, research and academic medical center located in northern New Jersey.</li>
<li>Daxor's ezBVA Lab service extended to a regional academic medical center, Level I adult trauma center in Ohio.</li>
<li>Daxor's ezBVA Lab service extended to an academic, integrated health system located in South Carolina. &nbsp;</li>
</ul>
"Our sales and marketing teams have kicked off the new calendar year with great momentum, and these new account openings in the past two weeks are further evidence of the more rapid uptake of our diagnostic solutions," said Michael Feldschuh, Daxor's CEO and President. "We remain focused on commercialization - broadening our reach with new analyzer sales, while driving increased utilization within our current customer base, supported by our expanding ezBVA Lab service. The continued growth of our client base paves the way for further adoption of our next-generation systems set to launch in the near term."

Daxor Announces Sales To Three New Hospitals Furthering Expansion Of Its User Base

<a href="https://www.globenewswire.com/Tracker?data=MzZEdCHAWtGa7TLQQBTDKOR0Kj8Mvcze5n1na9maN9eHktAIVlIhsKVWYyEDeGcXh6_gDnUrht4fB9txqaiAQkedgqJPQae7VX38SgHRT5Y=">Daxor Corporation</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXR#NASDAQ">DXR</a>), the global leader in blood volume measurement technology today announces two significant new customer transactions with Daxor's BVA-100&#x2122; (Blood Volume Analyzer) in January, marking a strong start to 2024. &nbsp;
New wins include:
<ul>
<li>Four-year lease agreement for the BVA analyzer at an award-winning network of 24 affiliated hospitals in Mississippi, West Tennessee, and East Arkansas with a reach into Kentucky, Missouri, and central Alabama</li>
<li>BVA analyzer purchase at a 200-bed independent hospital in Mississippi</li>
</ul>
Interventional cardiologist Dr. Aaron Earles, a clinical user at a new account had this to say, "We started using BVA in our hospital and the results have been astounding. We are shortening our length of stay as well. We are also finding that people we thought were in chronic heart failure were intravascularly volume depleted and anemic. It is a game-changer. It helps us preserve renal function as well."
"Our sales and marketing teams have kicked off the new calendar year with great momentum," said Michael Feldschuh, Daxor's CEO and President. "We remain focused on commercialization - broadening our reach with new analyzer purchases, and driving utilization within our current customer base, supported by our ezBVA Lab service."

Daxor Announces Two Significant New Customer Transactions With The Co's BVA-100 In January; No Financial Terms Disclosed

Daxor's ezBVA Lab Service Plays a Significant Role in Driving Growth and Fostering Widespread Adoption &nbsp;
Oak Ridge, TN, Feb. 07, 2024 (GLOBE NEWSWIRE) -- <a href="https://www.globenewswire.com/Tracker?data=beGXRz44ApiuV1Agp1kPU0XLP05NJoSEgh7Ew6FiGvTBvBSdGIlGjlVzSH7f7gpK4LP_SJMfWd0T5IAPZjEvBFyceSCl86lq2VPoYzs8j-o=">Daxor Corporation</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXR#NASDAQ">DXR</a>), the global leader in blood volume measurement technology today announces the expansion of blood volume analysis (BVA) through new analyzer purchases and the utilization of Daxor's ezBVA Lab service. These Q4 2023 initiatives have all played a significant role in driving the growth and the widespread adoption of BVA providing a strong position going into 2024.
Q4-2023 sales wins include:
<ul>
<li>BVA analyzer purchase at the largest and most integrated healthcare system in Georgia</li>
<li>BVA analyzer purchase at a community-directed health system based in Wisconsin</li>
<li>BVA analyzer rental at an academic health center servicing patients from Oregon, southwest Washington, Idaho, Montana, Alaska, and northern California</li>
<li>Daxor's ezBVA Lab service extended to an additional site in a 17-hospital healthcare organization in New Jersey</li>
</ul>
"Our primary focus continues to be broadening our commercial reach by integrating with new hospital systems, exploring additional treatment areas, and continually strengthening the clinical and health economic evidence that demonstrates the benefits of our diagnostic," said Michael Feldschuh, Daxor's CEO and President. "Thanks to the unified efforts of our sales and marketing teams, we've significantly shortened our sales cycle and streamlined clinician onboarding, resulting in optimized care practices and ultimately, improved patient outcomes, all of which allowed us to end 2023 in a position of strength."

Daxor Corporation Closes Q4 2023 With Growth In New Sales To Hospital Systems And Increased Utilization Of Its BVA-100 Blood Volume Diagnostic Across The U.S. At Existing Accounts

&nbsp;This System Utilizes Unique Blood Volume Metrics And Related Clinical Measures To Create Support Guidance For Fluid Management Interventions

Daxor Announces That The United States Patent And Trademark Office Has Issued The Company A Second Patent, Safeguarding A Distinctive Clinical Guidance System For Blood Volume Management

The New BVA System is Designed to be Significantly Faster, Simpler and Give Results at the Bedside
Potential clearance is expected during the first half of 2024. The Company's mission is to advance healthcare by enabling optimal fluid management.

Daxor Announces It Has Submitted Its Blood Volume Analyzer, Daxor BVA, To The FDA

Daxor Corporation Announces Presentation Of Data From Phase I NIH-Sponsored Trial At American Heart Association Annual Meeting

Patent Covers Novel Optimization of Care by Remote Monitoring Devices Including Smartwatches &nbsp;
Oak Ridge, TN, Nov. 09, 2023 (GLOBE NEWSWIRE) -- <a href="https://www.globenewswire.com/Tracker?data=YiZt_o4stXILtgYo_x5or07okpUHJkBt-A2cjXoXrdUtvsXpUW43QNYhnFp1vlgPNtxV4E8FrxoXoQPrU7TxOLuKd28I3JG6SFgcNlhzDhM=">Daxor Corporation</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXR#NASDAQ">DXR</a>), the global leader in blood volume measurement technology, today announces that Daxor was recently granted a patent for a system to provide remote blood volume monitoring after initial testing with Daxor BVA-100&#xAE; (Blood Volume Analyzer) diagnostic.
<ul>
<li>This U.S. patent number (US 11,801,002 B2) adds to our existing portfolio that includes more than a dozen issued and pending-review patents.</li>
<li>The recently issued patent provides remote blood volume monitoring through various methods including wearable devices such as smartwatches for a wide variety of medical conditions for which volume assessment is recommended.</li>
<li>This proprietary technology will help ensure ongoing care is optimized based on the patient's evolving blood volume status. &nbsp;</li>
</ul>
"We are very pleased to add this newly issued patent to our growing portfolio of intellectual property (IP) covering innovations in applying blood volume measurement to specific medical conditions and situations," said Jonathan Feldschuh, Daxor's Chief Scientific Officer. "This patent protects systems and methods for monitoring patients after an initial blood volume measurement. This will help ensure that the patient's continuing care is optimized based on their evolving blood volume status. The patent discloses various ways this can be accomplished, including the use of wearable devices such as smartwatches, to monitor patients with diagnoses including heart failure, critical care, hypertension, renal failure/dialysis, sepsis, ARDS, surgical blood loss, and others."
"Daxor has a robust research and development program focused on innovation and next-generation technologies, including approaches to blood volume optimization that rely on leveraging smart algorithms, computer-assisted clinical decision support, and novel hardware. These efforts are supported by funding we have received from the National Institute of Health (NIH) and United States Department of Defense (DoD) and are part of our strategy of adding significant intellectual property assets to the company to fuel future product development," said Michael Feldschuh, Chief Executive Officer of Daxor.
Daxor developed and markets the BVA-100 diagnostic, a 98% accurate and 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.

Daxor Corporation Awarded New Patent For Remote Monitoring Of Blood Volume

Robert J Michel, Chief Financial Officer at Daxor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXR#NASDAQ">DXR</a>), reported a large acquisition of company stock options on November 2, according to a new SEC filing.
What Happened: A Form 4 filing from the <a href="https://www.sec.gov/Archives/edgar/data/0000027367/000149315223039200//Archives/edgar/data/27367/000149315223039200/0001493152-23-039200-index.htm">U.S. Securities and Exchange Commission</a> on Thursday showed that Michel, Chief Financial Officer at Daxor, a company in the Health Care sector, was just awarded stock options worth 5,000 shares of DXR. The options give Michel the right to buy the company's stock at $7.99 per share.
Daxor shares are trading up 12.93% at $8.7 at the time of this writing on Friday morning. Since the current price is $8.7, this makes Michel's 5,000 shares worth $43,500.
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<h3>The Importance of Insider Transactions</h3>
Insider transactions shouldn't be used primarily to make an investing decision, however, they can be an important factor for an investor to consider.
In legal terms, an "insider" refers to any officer, director, or beneficial owner of more than ten percent of a company's equity securities registered under Section 12 of the Securities Exchange Act of 1934. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.
When a company insider makes a new purchase, that is an indication that they expect the stock to rise.
Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down. 
<h3>Transaction Codes To Focus On</h3>
<a href="https://www.benzinga.com/money/investing-tools">Investors</a> prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S indicates a sale. Transaction code C indicates the conversion of an option, and transaction code A indicates the insider may have been forced to sell shares in order to receive compensation that had been promised upon being hired by the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000027367">Check Out The Full List Of Daxor's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Chief Financial Officer at Daxor Acquires Company Stock Options Worth 5,000 Shares

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VIGL

Press Releases

Daxor Corporation to Present at the H.C. Wainwright 26th Annual Global Investment Conference

Daxor Corporation CEO and President Michael Feldschuh Delivers Corporate Update in Shareholder Letter

Leading Central Florida Hospital Implements Daxor's BVA-100™ Blood Volume Diagnostic for Heart Failure Patient Care

Daxor Corporation Receives $300K Matching Fund Award From Launch Tennessee

Newly Published Review Highlights the Pivotal Role of Daxor's Blood Volume Analysis Technology in Advancing Cardiorenal Syndrome Management

Daxor Corporation to Exhibit at the Heart Failure Society of America Annual Scientific Meeting 2024

Daxor Corporation Streamlines Regulatory Strategy for Groundbreaking Diagnostic Device

Daxor Corporation to Participate in a Fireside Chat at the 2024 Maxim Healthcare Virtual Summit

DAXOR'S INNOVATIVE BVA-100™ BLOOD VOLUME DIAGNOSTIC FEATURED AT MEDAXIOM CV TRANSFORUM FALL '24

Daxor Expands Its BVA-100™ Blood Volume Diagnostic to Two New Hospital Systems Adding to Sales Momentum

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