The company judiciously built out a world-class facility about 10 years ago, and we’ve been really improving it ever since. So we’ve already made the capital investments that are required in order to bring these products up to speed. We will be adding a few head count in order to make the manufacturing possible, but that cost will be more than offset from the savings of not buying it from a third-party. So we think that it’s going to be really quite helpful. One another question I received is, does this product contain radioactive component? How does that fit into our strategy around having a so-called non-isotopic tracer. Glofil is a very mild radio isotope. There are advantages to that in the sense that Glofil product that also has reimbursement in place, which is quite important, just as our blood volume product does.
So it is a well-understood and reimbursed product, so that’s a positive. Daxor continues to move forward with our nonstop strategy. We’ve received last year funding from the National Institutes of Health Catalyst program which has funded for the — a lot of the testing and the development of our tracer system. And we’ve been working hard on this so-called fluorescent marker in our labs is proprietary. So we’re excited about the progress that we’re making there and we’re committed to developing and bringing to market a number of different technologies to solve this crucial problem in medicine. Let’s see other questions. Will we become a reporting company? This is a question that I got a lot, and it’s something that I talk about a lot. So we’ve been lowering the portfolio value through judicious sales over the last year.
We continue to — you can see the NCSR, to see some of the details of that. The company has a — been a 1934 Act reporting company for the — up until 2011, and was not our choice to become a 1947 company. We have been in touch with the SEC around this issue. It is something that our attorneys have regularly been talking to the SEC about, we continue to hope to make the transition back to a so-called 34 ACT reporting company. We have been increasing our revenue and we do feel that we should qualify for that designation. Again, this is something that’s up to the regulator not up to us. We’re going to continue to be engaging with this. Next question from this investor was, if we get FDA approval on our next-generation device, will the revenue exceed $10 million a year, etc.
Well, let’s talk about those numbers. We have not released pricing yet for the next-generation analyzer. We do intend to switch over towards the so-called or use model for the test. Our ezBVA lab right now is priced at $965 per test. So in order to understand simple math around their 10,000 tests a year would obviously translate to about $9.65 million worth of revenue, and that’s just obviously from our test kits. I think that the growing confidence around management around our breaking even and turning a profit within 12 months is really driven by the substantial uptake that we’re seeing. What makes it difficult for the company around specific revenue forecast or numbers, we just don’t know yet what the bill date or time line will be with our next-generation system.
I do feel that once we have visibility that way, we’re going to be able to make a better presentation of both the cadence of the business and the forecast flow when that happens. We are, though, feeling extremely excited about the fourth quarter of last year and the start of this year. As I mentioned earlier, we saw a rise of 32.9% in our test kits between the first half of 2020 — the second half of 2023, and that’s accelerated to over 95% in the first two months of this year. So our business is really rapidly growing, and the revenue associated with it is growing as well. And we’re very, very careful as a company to invest and grow. We’re not interested in just growing top line revenue and at the expense of increasing losses. Actually, just the opposite.
We’re growing revenue substantially and narrowing the losses so as to get to breakeven and profitability. Okay. See getting in here, sorry. I received a question, why did the seller want to sell company that — okay. So Iso-Tex Pharmaceuticals is not selling their company to us. They are selling our the products that they manufacture to us, it’s an important distinction. This was an opportunistic moment for us to acquire it. Iso-Tex Pharmaceuticals has been in business since 1975. There was a generational transfer associated with the company. And so Daxor was a natural acquirer. So we really took advantage of the timing of their own strategy, their own desire in terms of their arc of developing their business. This was a very good time for us to make this — to make this offer to them.
And after some negotiation around the terms, we were able to come to something that works for everybody. Next question. And again, I apologize, we have received a really huge number of questions, which is great. I’m just trying to switch through them and I can get to them all. Next question. There’s a question how much cash does the company have on hand? What does this be for or the future. Again, I refer you to the NCSR, to see a listing of our audited financial statements. That’s what is accurate and updated as of the 31st of last year. What is the cash burn rate of the company? What do we anticipate. So again, this is something that’s very interesting. We’re seeing that the revenues have been climbing substantially. We anticipate that they’re going to continue to climb now at an even greater rate.