Pacific Edge in holding mode as US Medicare decision nears

Total laboratory use of Pacific Edge's Cxbladder tests in the US rose in the 2024 financial year but the growth rate slowed in the second half as the company reduced its sales team. (Image: Thinkstock)

Greg Hurrell

Tue, 21 May 2024

Pacific Edge says the 2024 finance year has been one of two halves, as it quickly switched from growth to capital preservation.That sudden change of focus came from a major setback with the possible loss of access to the US Medicare system which has been its largest customer.The company reported a loss of $29.5 million for the March 31 financial year, 9.5% bigger than 2023’s net loss, amid that slowing growth.MedicareThe company said it was prepared for all outcomes as it waited to see whether it would hang on to its Medicare deal, which...

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