Cancer diagnostics company, Pacific Edge, has announced a $20 million capital raising offer.
The offer will consist of a $15m placement of new ordinary shares to selected investors and a $5m share purchase plan for retail investors.
The share issue will be priced at $0.10 per share, which is at a premium to the 20-day volume average weighted price.
The company said the capital raising is aimed at ensuring it has the cash reserves to capitalise on recent clinical and commercial milestones, grow in non-Medicare channels, and regain Medicare coverage of its tests.
The offer comes after Pacific Edge reported a resilient financial performance for the year ended March 2025.
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