Pacific Edge has applied for and been granted a trading halt over its shares on the NZX and ASX.
The trading halt will remain in place until the earlier of the commencement of trading on Wednesday 7 June 2023 or the release of an announcement addressing the finalisation over the weekend of a Local Coverage Determination (LCD) detailing the proposed ceasing of reimbursement of Cxbladder by Medicare in the US.
The LCD notes Cxbladder tests Triage, Detect, Monitor, Resolve and Detect+ are ‘not considered medically reasonable and necessary’, the threshold required for coverage under the US Social Security Act.
Pacific Edge will provide an announcement before trading opens on Wednesday 7 June 2023 and will host a conference call on the announcement at 11am.
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