Pacific Edge cuts losses by $4.7m on US growth

Total lab throughput for tests dipped 6% compared to the prior year.

Thu, 27 May 2021

Cancer diagnostics firm Pacific Edge has slowed its cash burn on the strength of key wins in its core US market, trimming net losses after tax by a quarter, or $4.7 million, to $14.2m for the year to March.That came off a more than doubling in revenue to $10.4m from a comparable $5.2m in 2020, with operating revenue from test sales at $7.7m, driven by inroads into the commercialisation of its Cxbladder product into international markets.Chief executive David Darling said the result had been achieved despite headwinds created by covid particular...

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