Quarterly Update - Q4 23 Test Volumes Reach New Record

GENERAL

Tue, Apr 18 2023 09:18 am

QUARTERLY INVESTOR UPDATE – Q4 23 TEST VOLUMES REACH NEW RECORD

DUNEDIN, New Zealand -- Cancer diagnostics company Pacific Edge (NZX, ASX: PEB) has today released its Fourth Quarter Shareholder Update (attached) showing test volumes processed in its laboratories in Q4 23 increased to 8,878 tests, a 14% rise on the 7,768 tests in the prior quarter (Q3 23).

The tests processed in Q4 23 is a new record and represents a 42% increase on the 6,242 tests processed in the same quarter of the prior year (Q4 22). The result brings total volumes for FY 23 to 31,566 – a 37% increase on the 23,086 tests in the prior financial year (FY 22).

US volumes led the growth rising to 7,817 in Q4 23, an 18% increase on the 6,629 tests in Q3 23. The figure also represents a 48% increase on the 5,290 tests processed in Q4 22. The result brings US test volumes for FY 23 to 27,218, an increase of 44% on the 18,864 in FY 22.

The number of unique ordering clinicians in the US has continued to grow through the quarter to 1,151 at the end of Q4 23, up 6% on the 1,081 ordering in Q3 23 and up 46% on the 789 clinicians who ordered tests in Q4 22 .

Asia Pacific volumes in Q4 23 were 1,061, down 7% on the 1,139 tests processed in Q3 23, but up 11% on the 952 tests processed in Q4 22. Total APAC volumes for FY 23 were 4,348, a 3% increase on the 4,222 tests processed in FY 22. The volume trends in APAC reflect the maturity of the New Zealand market and the region’s ongoing healthcare reforms.

The update details how Cxbladder Triage, Pacific Edge’s test to assist clinicians to safely de-intensify hematuria evaluation in populations with a low incidence of bladder cancer, has gained Medicare coverage. It also provides the latest updates on the Kaiser Permanente EMR integration, the proposed LCD from Novitas and other important contextual information for shareholders.

Released for and on behalf of Pacific Edge by Grant Gibson Chief Financial Officer.  

For more information:
Dr Peter Meintjes
Chief Executive
Pacific Edge
P: 022 032 1263

Richard Inder
The Project
P: 021 645 643

OVERVIEW www.pacificedgedx.com
Pacific Edge Limited (NZX/ ASX: PEB) is a global cancer diagnostics company leading the way in the development and commercialization of bladder cancer diagnostic and prognostic tests for patients presenting with hematuria or surveillance of recurrent disease. Headquartered in Dunedin, New Zealand, the company provides its suite of Cxbladder tests globally through its wholly owned, and CLIA certified, laboratories in New Zealand and the USA.

About Cxbladder www.cxbladder.com
Cxbladder is a non-invasive genomic urine test optimized for the detection and management of bladder cancer. The Cxbladder evidence portfolio developed over the past 14 years includes more than 20 peer reviewed publications for primary detection, surveillance, adjudication of atypical urine cytology and equivocal cystoscopy.

Cxbladder is the focal point of numerous ongoing and planned clinical studies to generate an ever-increasing body of clinical utility evidence supporting adoption and use in the clinic to improve patient health outcomes. Cxbladder is reimbursed by CMS and has been trusted by over 2,000 US urologists in the diagnosis and management of more than 80,000 patients, including the option for in-home sample collection. In New Zealand, Cxbladder is accessible to 75% of the population via public healthcare and all residents have the option of buying the test online.