Pacific Edge still spending, but US diagnostics up

Fri, 29 May 2020

The cash burn continues at Pacific Edge, with a total of $14.8 million in cash in the bank at end of March, following $20.1 million of new capital raised just five months ago. Reporting a net loss of $18.9 million for the 12 months ended March 31, the Dunedin-based cancer diagnostics company said while operating revenues from test sales were up 14 percent at $4.4 million, operating expenses had also increased 5 percent to $24.1 million. This was primarily due to the impact of the weaker kiwi dollar. Cash receipts from customers improved b...

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