Pacific Edge has announced that Medicare coverage of Cxbladder tests in the US market is expected to cease from 17 July 2023, resulting in a substantial reduction in revenue.
The company is exploring legal options and cost containment initiatives while seeking to regain coverage.
A conference call will be held today to discuss the matter.
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The deal is subject to regulatory approvals and commercial conditions.
Every sector of the Australian share market has lost ground.
The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.
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