Pacific Edge shares more than double on US healthcare news

Fri, 03 Jul 2020

Pacific Edge shares more than doubled in value on confirmation of acceptance under a key US medical regulation for its Cxbladder cancer test. The shares jumped as high as 68 cents from 27 cents yesterday, and were recently at 55 cents, up 104 percent and valuing the company at $379.3 million. The successful standard of care rating from the US Centres for Medicare and Medicaid Services means Pacific Edge will be reimbursed at a rate of US$760 per test from July 1, 2020. The CMS provides healthcare coverage for all US citizens over the...

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