Pacific Edge full-year loss widens on costs of US push, to raise $35.3M

Wed, 27 May 2015

By Jonathan Underhill May 28 (BusinessDesk) - Pacific Edge, which commercialised a non-invasive test for bladder cancer, widened its full-year loss and said it will raise $35.3 million in a discounted rights issue to continue funding its expansion in the US, which is burning through cash. The net loss was $10.6 million in the 12 months ended March 31, from $9.4 million a year earlier, the Dunedin-based company said in a statement. Product sales jumped to $1.9 million from $145,000 a year earlier. Grants and research rebates added $1.4 mil...

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