Daxor Corporation Holds Annual Meeting, Provides Business Growth Update And Strategic Plan

NEW YORK, NY--(Marketwired - June 29, 2017) - Daxor Corporation, (NYSE MKT: DXR) an investment company with medical instrumentation and biotechnology operations, held its annual meeting on June 27th in New York City, where it briefed investors on its progress in growing its medical technology operating company supplying the Daxor BVA-100 blood volume analysis device.

At the meeting, President and CEO Michael Feldschuh briefed shareholders, stating, “We have seen important and dramatic results for patients through the use of our device, notably the 89% lower 30-day mortality and 52% lower 30-day readmissions versus benchmarks reported in acute heart failure at ACC 2016.” The referenced study of 250 patients was presented by Drs John Strobeck and Wayne Miller and highlights the potential impact of individualized care guided by blood volume analysis on outcomes for the estimated 1 million heart failure patients hospitalized each year in the U.S. as well as on the forecasted growth in the resource utilization burden.

Daxor also announced that its device is being incorporated into an upcoming multicenter international clinical trial by a major pharmaceutical company that is slated to start this summer. The inclusion of Daxor’s technology in that trial, as well as confidential pending enquiries from other drug makers regarding the use of the device were cited during the meeting as strong indications of the value of the technology and rising recognition of the importance of understanding the volume effects of drugs in patient populations.

A BVA-100 device was announced as having been acquired on June 26th by the Uniformed Services University of Health Sciences. Feldschuh stated that the company is working closely with “a number of Department of Defense research groups” on optimizing the role of blood volume analysis, entailing the placement of several devices, as the armed forces focuses on improving the care of soldiers through precision medicine and individualized care. In a similar vein, efforts at obtaining government grants for further development of Daxor’s technology are in the works, and the company is working toward its next generation technology to improve the speed and usability of its device.

Further research and development of the company’s growing patent portfolio was also discussed in the meeting. In addition to patents received last year for total body albumin measurements, provisional patents the company has recently filed as well as several patents currently being devised were also mentioned as priority initiatives at the company.

Progress in driving utilization of the device at the base of over 55 hospitals where the company has placed devices was discussed, as well as progress in reducing costs associated with each unit sold by over 50% over the past 18 months, were cited during discussion of improvements in the sales process.

Shareholders asked questions regarding the philosophy of the company toward further partnerships and mergers. Management cited strategic alliances as a priority for the company as it builds its assets, both in the field via the growth of the install base and in the intellectual property and know-how that make Daxor a leader in the field of blood volume measurement and its successful application to improve patient care.

Feldschuh closed out his opening remarks by stating, “Healthcare is moving toward individualized care, and results/reimbursement matter in this value-conscious environment. Our time for this test has come as crucial elements align and come together with our renewed focus and strategy.”

Daxor’s device is widely considered the gold standard of blood volume measurement and the is only device capable of delivering direct, 98% accurate volume and red blood cell status via a swift (under 90 minutes), non-invasive test in the clinical setting.

Daxor Corporation manufactures and markets the BVA-100 Blood Volume Analyzer, which is used in conjunction with Volumex, Daxor’s single-use diagnostic kit. For more information regarding BVA and the Daxor BVA-100, visit Daxor’s website at www.Daxor.com.