Daxor Corporation (NYSEAMERICAN: DXR) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced a clinical update, showing overwhelmingly strong efficacy surrounding its BVA-100 blood volume analyzer. Today, we’ll talk about:
- The clinical data that was released;
- what we’re seeing from DXR as a result;
- and what we’ll be watching for ahead.
DXR Gains Big On Clinical News
As mentioned above, Daxor Corporation is having an incredibly strong start to the trading session this morning after announcing clinical data. In a press release issued early this morning, the company announced the publication of new research using its BVA-100 blood volume analyzer. DXR pointed to the fact that the data in the research highlights significant, often unrecognized blood loos in cardiac surgery.
In the release, the company said that the paper was entitled “Measurement of Blood Loss in Cardiac Surgery: Still Too Much” and was published in the April issue of The Annals of Thoracic Surgery. The data showed that that in cardiac surgery red blood cells are not conserved as previously expected. In fact, the study showed a reduction in red blood cells in the amount of 38%. In a statement, Study author, Mark Nelson, MD, commented:
Contrary to the long-held belief that red blood cells are largely conserved during cardiac surgery they are in fact reduced by 38%… This data beckons the question of transfusion, should peripheral hematocrit continue to be utilized as a determinant.
The above statement was followed up by Michael Feldschuh, CEO at DXR. Here’s what he had to offer:
This study highlights the BVA-100’s unique ability to illuminate intravascular fluid derangements that are missed by standard diagnostic tests. With over 500,000 coronary bypass surgeries, 3,200 transplants, and hundreds of thousands of other cardiac and non-cardiac surgeries performed annually in the United State, the need for optimal care and accurate measurement of surgical blood loss is acute. We see this as a very large and significant additional market for our product and look forward to subsequent research studies planned in this area.
What We’re Seeing From The Stock
As we can expect any time positive research data is released surrounding a biotechnology product, we tend to see a strong reaction in the market. That’s exactly what we’re seeing from Daxor today. With the news surrounding the data release, the stock is flying. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:53), DXR is trading at $8.70 per share after a gain of $1.10 per share or 14.47% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on DXR. In particular, we’re interested in following the continued validation of the company’s BVA-100 test as it proves to be a much needed tool in the field of cardiac surgery. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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