Pacific Edge shares fall 63% after Novitas decision

(Image: Pacific Edge)

Mon, 13 Jan 2025

Cancer diagnostics company Pacific Edge has come out swinging against a decision by Novitas, the Medicare administrative contractor with jurisdiction for its US laboratory, that would end reimbursement for Cxbladder Triage, Detect and Monitor. The shares fell 63% to $0.050 in early trading Monday after a trading halt was lifted.According to Pacific Edge, Novitas continues to misunderstand the current standard of care in evaluating hematuria patients, fails to consider new peer-reviewed evidence and repeats its flawed analysis of the existi...

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