The shares of Daxor Corporation (NASDAQ: DXR) have exhibited an upward trajectory, demonstrating a notable surge of 6.57% to $9.57 in the previous session. The movement in DXR stock price correlates with the company’s involvement in a significant event.
Daxor (DXR) is currently showcasing its presence at the American College of Cardiology (ACC.24), hosted at the esteemed Georgia World Congress Center in Atlanta, GA, from April 6 to 8, 2024. ACC.24 stands as a pinnacle in cardiology expositions across the Americas, presenting Daxor with a prime opportunity to expand its outreach within the broader cardiovascular community.
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This conference serves as an optimal platform for engaging with healthcare providers facing substantial challenges in effective volume management. Daxor’s blood volume analysis (BVA) technology furnishes 98% precise, actionable data aimed at optimizing treatment strategies and tailoring care, thereby enhancing outcomes while mitigating both duration and costs associated with care provision.
Moreover, Daxor has entered into a definitive agreement to secure exclusive and global rights and intellectual property for the manufacturing of Volumex and Megatope from privately-held Iso-Tex Diagnostics, Inc., its current supplier. In addition to this agreement, Daxor has also obtained exclusive rights to Glofil, a drug utilized for measuring glomerular filtration rate (GFR), previously distributed directly by Iso-Tex to its clientele.
Daxor anticipates these acquisitions to yield positive cash flow and bolster earnings immediately upon the completion of manufacturing transition. This optimistic projection stems from the anticipated revenue streams generated by these drugs, coupled with the substantially higher profit margins achievable through internalized production processes.
These transactions have been tactfully structured with seller-provided financing on favorable terms, with no imminent payment obligations until the completion of the manufacturing transition to Daxor over the ensuing 6-9 months. Subsequently, the total transaction value will be disbursed in monthly installments over a span of two years, with projected revenue from Glofil and cost efficiencies from in-house manufacturing of BVA test kits expected to support these payments effectively.
