NEW YORK, NY--(Marketwired - Sep 15, 2016) - Daxor Corporation (
Daxor has been reporting as an investment company under the Investment Company Act of 1940 since January 1, 2012. The Company is pleased to report that its NAV has climbed by $0.43 per share in the first six months, representing a 6.58% return on investment based upon our starting share price at the beginning of the year. The company has also reduced its $3,845,112 of margin loans payable at December 31, 2015 to $2,176,954 of margin loans payable at June 30, 2016 as part of management's continued efforts toward improved finance activities.
At June 30, 2016, the Company had net assets of $15,976,009 or $4.17 per share versus net assets of $14,427,532 or $3.74 per share at December 31, 2015. Net assets increased by $1,548,477 during the six months ended June 30, 2016. The Company had dividend income of $273,464, net realized gains from investments of $1,657,710, net realized gains from options of $132,353, and a net change in the unrealized depreciation on investments of $872,589. These amounts were offset by realized losses on the sale of short positions of $(147,877) and a net change to the unrealized depreciation on the Company's Operating Division of $(881,837).
The Company's operational priority is to invigorate sales of its key product, the BVA-100 blood volume analyzer, a device with broad potential to advance care across a number of indications representing major areas of expenditure in our health care system. Blood volume measurement is a fundamental tool for accurate diagnosis and treatment in medical and surgical conditions including heart failure, critical care medicine and intensive care unit medicine, hypertension, syncope, pre-operative blood screening for hidden anemia, anemia in cancer patients, kidney failure, hyponatremia, and other conditions. While blood volume derangement is crucial and common to these settings, treatment historically has been based on indirect measurements and clinical indications that at best offer crude estimates of actual blood volume status. To increase uptake of its technology, which delivers unique and unmatched utility, the Company must drive adoption through education, awareness building, promotion, and collaboration.
To that end, management has focused on improving the management team driving this effort, adding key executives with industry experience in marketing, sales and business development, along with replacing its chief financial officer. Along with these key executive changes, the Company has seen remarkable research published this year that points to exciting benefits to be realized from the clinical use of the BVA-100 device. Dr. Wayne Miller of the Mayo Clinic has published in multiple leading medical journals over the past twelve months on the importance of measuring blood volume in heart failure patients. In addition, Dr. John Strobeck and Dr. Miller presented an interventional heart failure study at the American College of Cardiology in spring of this year showing lower 30-day hospital readmissions and mortality when BVA results were utilized to guide individualized care vs Medicare averages. Stated Michael Feldschuh, President and CEO of Daxor, "The landmark heart failure result presented this April has important implications for improving not only patient care but also resource utilization outcomes. It has excited significant interest across our user base and is helping our unique technology to gain traction with physicians and institutions."
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 .
Daxor contact information: Michael Feldschuh Acting CEO and President 212-330-8500 mfeldschuh@daxor.com Eric P. Coleman Chief Financial Officer 212-330-8504 ecoleman@daxor.com Diane Meegan Investor Relations 212-330-8512 dmeegan@daxor.com
