DXR 8-K
Daxor Corp (DXR)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) October 5, 2020
Daxor Corporation
(Exact name of registrant as specified in its charter)
| New York | 811-22684 | 13-2682108 | ||
| (State or other jurisdiction | (Commission | (IRS Employer | ||
| of incorporation) | File Number) | Identification No.) |
| 350 5th Avenue, New York New York | 10118 | |
| (Address of principal executive offices) | (Zip Code) |
212-330-8500
Registrant’s telephone number, including area code
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below):
| [ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| [ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| [ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| [ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
| Common Stock $0.01 par value | DXR | NYSE AMERICAN |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company [ ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
Item 8.01 – Other Events
On October 5, 2020, Daxor Corporation issued a press release announcing new research demonstrates Daxor BVA-100® Blood Test provides “Extremely Cost-Effective” improvement in patient life span at the Heart Failure Society of America Annual Scientific Meeting 2020.
Item 9.01 Exhibits
(d) Exhibits. The following exhibit is filed with this Current Report on Form 8-K:
No. Description
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| DAXOR CORPORATION | ||
| (Registrant) | ||
| Date: October 5, 2020 | By: | /s/ Robert J. Michel |
| Name: | Robert J. Michel | |
| Title: | Chief Financial Officer | |
Exhibit 99.1
New Research Demonstrates Daxor BVA-100® Blood Test Provides “Extremely Cost-Effective” Improvement in Patient Life Span at the Heart Failure Society of America Annual Scientific Meeting 2020
NEW YORK, October 5, 2020 — Daxor Corporation (NYSE MKT: DXR), an investment company with innovative medical instrumentation and biotechnology operations focused on blood volume measurement, today announces compelling new data demonstrating further beneficial use of Daxor’s blood volume analysis technology presented during the Heart Failure Society of America’s Virtual Annual Scientific Meeting 2020.
New data titled, “Cost-effectiveness Analysis of Early Blood Volume-Guided Management in Hospitalized Heart Failure Patients” studied the economic benefits of the use of blood volume analysis in the population of heart failure patients, one of the largest cost-drivers of the national healthcare system. The data showed an “extremely cost-effective” incremental cost-effectiveness ratio (ICER) of $10,200 which was 80% less costly than other therapies that are considered “good value” by common quality metrics. The data also revealed an average life-extension of 2.32 quality-adjusted life years (QALYs) in addition to the cost savings.
“The use of Daxor’s BVA-100® blood test in heart failure outcomes in this compelling study showed exceptional value by not only improving patient life span, but also at a cost which is significantly less than other commonly used therapies. Daxor’s blood test for use in treating heart failure is demonstrably better for patient life extension outcomes compared to many other treatment regimes, while also driving excellent economic value for hospital systems,” said Jonathan Feldschuh, Daxor’s Chief Scientific Officer.
Jean Oertel, VP of Commercialization and Customer Experience at Daxor stated, “This important data shows the full power of our diagnostic technology with the ability to achieve better outcomes at reduced costs. The value of Daxor’s BVA-100 blood test for hospital systems and payers managing heart failure is covered by both public and private insurance with CPT/APC coding, something that many other approved tests never achieve even years after market clearance by the FDA.”
About Daxor Corporation
Daxor Corporation (NYSE: DXR) is an innovative medical instrumentation and biotechnology company focused on blood volume measurement. We developed and market 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. The BVA technology has the potential to improve hospital performance metrics in a broad range of surgical and medical conditions, including heart failure and critical care, by informing treatment strategies, resulting in significantly improved patient outcomes. Our mission is to partner with clinicians to incorporate BVA technology into standard clinical practice and improve the quality of life for patients. For more information, please visit our website at Daxor.com.
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 risks 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:
Bret Shapiro
Sr. Managing Partner, CORE IR
516-222-2560