Pacific Edge shares drop 9.4% as slow sales progress bring cash burn in focus

Tue, 29 May 2018

By Rebecca Howard May 29 (BusinessDesk) - Pacific Edge shares fell 9.4 percent after the company stayed in the red and said commercial deals in the US were taking longer than expected, raising questions about whether its cash reserves are deep enough. "Things seem to be moving quite slowly for the company, slower than what management thought," said Grant Williamson, director at Christchurch-based Hamilton Hindin Greene. Pacific Edge, which has a suite of four Cxbladder cancer diagnostics tests, had $16.2 million in cash and cash equi...

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