Daxor Corporation CEO and President Michael Feldschuh Delivers 1st Half Corporate Update in Shareholder Letter
Oak Ridge, TN, Sept. 02, 2025 (GLOBE NEWSWIRE) -- Daxor Corporation (NASDAQ:DXR), the global leader in blood volume measurement technology, today provides a mid-year corporate and financial update in a Letter to Shareholders from CEO and President Michael Feldschuh.
Dear Valued Shareholders,
"Patience, persistence and perspiration make an unbeatable combination for success." – Napoleon Hill.
This timeless wisdom resonates deeply with the journey we've undertaken at Daxor Corporation, and it perfectly encapsulates the spirit behind our latest achievements. We are thrilled to share that this persistence has culminated in a truly transformative moment for our company, marking an important inflection point as we move forward.
We are pleased to provide you with a mid-year update reflecting the significant progress and milestones achieved by Daxor Corporation since the beginning of 2025, building upon the foundation laid in our previous communications. This period has been marked by crucial advancements in product innovation, expanding market adoption, strong clinical validation, and increased visibility for our groundbreaking Blood Volume Analysis (BVA) technology.
Major Milestones: FDA Clearance and Industry Recognition
Our most significant highlight of this period is the receipt of FDA Clearance for our new rapid, lightweight, Blood Volume Analysis System in August 2025. This clearance is a testament to our continuous commitment to innovation and will enable us to offer an even more accessible and efficient solution to healthcare providers. Ringing the Nasdaq Closing Bell in a Ceremony in August 2025 also celebrated this and other recent achievements, underscoring our growing presence and recognition within the industry. It is worth noting that the new BVA system has the same capabilities as our existing BVA-100 but is three times faster, portable, and a fraction of the size while still measuring total blood volume (TBV), red blood cell volume (RBCV), plasma volume (PV), and albumin transudation rate (ATR). This next-generation analyzer is anticipated to deliver a level of speed, access, and accuracy to fluid management that can broadly change medicine.
Financial Performance Highlights: First Half 2025 vs. First Half 2024
We are particularly pleased to report on our financial performance for the mid-year ending June 30, 2025, demonstrating significant progress and continued growth in our operating business.
- Revenue Growth: The operating division experienced a 73 percent increase in unaudited revenues for the six-month period ended June 30, 2025, as compared to the six-month period ended June 30, 2024. This substantial growth was driven by a combination of sales of our single-use blood volume diagnostic kits for heart failure management and critical care use, as well as revenue from military contracts. The addition of new accounts during this period also contributed to this revenue growth.
- Net Asset Value (NAV) Increase: As of June 30, 2025, Daxor's net assets were $36,627,814, reflecting an increase of $3,972,552 from $32,655,262 at June 30, 2024. On a per-share basis, our Net Asset Value increased to $7.15 per share at June 30, 2025, up $0.40 per share from $6.75 per share at June 30, 2024.
- Investment Activity: For the six-month period ending June 30, 2025, Daxor had net dividend income of $11,779 and net realized gains on investment activity of $468,212. There was a net decrease in unrealized appreciation on investments of $419,490, as positions were sold during 2025 and prior periods' significant unrealized gains unwound into realized gains. The Net Decrease in Net Assets Resulting From Operations of $369,701 included non-cash stock-based compensation expense of $205,214. Additionally, the operating division realized a loss of $114,982 due to judicious investment in research and development for the 2025 product launch, ramping commercial sales teams, and production facilities for our next-generation analyzers. This is significantly lower than the $1,296,087 realized loss from the same period of the prior year, demonstrating the growth of the operating division over the last year.
Expanding Market Adoption
Market penetration and clinical acceptance of Daxor's BVA technology have accelerated remarkably:
- Three new facility adoptions were announced in July 2025, indicating a strong upward trend in the integration of our technology into clinical practice.
- In May 2025, our BVA diagnostic reached two new U.S. Healthcare Systems, and a Florida Healthcare Leader embraced Daxor's Blood Volume Analysis Technology.
- Further demonstrating this momentum, three additional medical centers in Kentucky, Arkansas, and Philadelphia adopted Daxor's Blood Volume Diagnostic in May 2025 and have programs in the process of launching, signaling growing clinical acceptance across the nation. These multiple new adoptions highlight the increasing recognition among healthcare providers of the critical role precise blood volume analysis plays in patient care.
Recent Research Highlights & Clinical Validation
The clinical validation and research supporting our BVA technology continue to strengthen its foundational value:
- A significant Duke University study on Blood Volume Analysis in Heart Failure was published in the American Heart Journal in May 2025. This publication in a prestigious journal further solidifies the scientific evidence backing our technology's utility in managing complex conditions like heart failure.
- New research presented at ACC25 in April 2025 revealed that Daxor BVA-identified euvolemic heart failure patients experienced 2.61 times better survival, a crucial finding that underscores the life-saving potential of accurate blood volume management.
- Long-awaited data from COVID/Sepsis research trial for patients hospitalized in the Critical Care unit of three hospitals begun in 2022 has finally been published in the prestigious Journal of Critical Care. This pilot study, conducted in 2022 across three ICUs, involved 36 patients and aimed to describe and compare ATR (the patient capillary leak rate as measured by albumin loss, a measure only available with our BVA test) in these two conditions. The study found that ATR was persistently elevated in both COVID-19 and sepsis patients, with significantly higher values in sepsis patients, suggesting more pronounced endothelial dysfunction. A critical finding was the frequent inaccuracy in clinical fluid status assessment, where patients were often deemed hypervolemic when objective measures showed them to be hypovolemic in both COVID-19 and sepsis. This misinterpretation highlights the urgent need for reliable diagnostic tools like BVA to better guide fluid therapy and reassess current clinical evaluation methods in critical care to avoid insufficient fluid administration or fluid overload.
Industry Event Showcases
We also actively engaged with the medical community to showcase our innovative solutions and foster broader awareness:
- Daxor Corporation exhibited at the 45th International Society for Heart and Lung Transplant (ISHLT) Annual Meeting and Scientific Sessions in April 2025.
- We showcased our innovative Blood Volume Analysis at the MedAxiom Cardiovascular Transforum Spring 2025.
These events provided invaluable platforms to interact with key opinion leaders, share our latest advancements, and demonstrate the clinical benefits of our technology to a wide audience of cardiovascular professionals.
In summary, the period since the start of 2025 has been exceptionally productive for Daxor Corporation. The FDA clearance of our rapid, lightweight BVA system, combined with a significant expansion in market penetration, robust clinical validation, and strong financial performance marked by a 73% increase in revenues and a $0.40 per share increase in NAV, positions us strongly for continued growth. We are particularly encouraged by the growing clinical acceptance and the compelling evidence of improved patient outcomes facilitated by our technology. We are firmly committed to the roll-out of our new BVA system, further acceleration of our commercial operations, and continued R&D for other important improvements and additional products.
Our mission is to advance patient care through precise blood volume management, solving one of the greatest challenges in healthcare. I thank you for your continued trust and investment in Daxor Corporation. We look forward to sharing further updates as we continue our mission.
Sincerely,
Michael Feldschuh
President and CEO
Daxor Corporation
About Daxor Corporation
Daxor Corporation (NASDAQ:DXR) is tackling healthcare's "multi-billion-dollar silent crisis", the inability to precisely measure blood volume. This often results in suboptimal care, prolonged hospital stays, and increased readmissions for many high-cost medical conditions like heart failure and those requiring ICU care. With 50 years of experience and innovation, Daxor's patented, FDA-cleared Blood Volume Analysis (BVA) diagnostic offers unmatched, real-time, precise data via its rapid, hand-held, lab-based system. This empowers clinicians to make individualized treatment decisions that significantly improve patient outcomes and deliver substantial efficiencies in value-based healthcare. Daxor is ISO certified and operates a U.S.-based, 20,000-square-foot state-of-the-art manufacturing facility, positioning the company for accelerated market expansion.
For more information, please visit our website at Daxor.com.
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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:
Investor Relations Contact:
Bret Shapiro
COO – Head of Capital Markets
COREIR
(561)-479-8566-Cell
[email protected]|www.coreir.com
