Quarterly Update - Q2 24 Cxbladder Test Volumes Resilient

Q4 24 - CXBLADDER TEST VOLUMES RESILIENT IN THE FACE OF HEADWINDS

DUNEDIN, New Zealand – Cancer diagnostics company Pacific Edge (NZX, ASX: PEB) announces test volumes processed at its laboratories in the second quarter of the 2024 financial year (Q2 24) fell 12% to 8,525 from 9,704 in the prior quarter (Q1 24) amid the reorganization of our US operations and publicity on the Medicare coverage determinations.

However, the volume of tests processed in Q2 24 represents an 8% increase on the 7,864 tests processed in the same quarter of the prior year (Q2 23). The reorganization, detailed in the company’s Q1 24 investor update also released today, weighed on sales activity in August and early September.

Meanwhile, volumes were also impacted by some uncertainty among physicians and healthcare providers over Cxbladder’s coverage status following the Medicare non-coverage determination in June by Novitas and then its July withdrawal. These effects were exacerbated by the normal July holiday season lull.

Tests processed in our US laboratory were 7,335 tests in Q2 24, a 15% decrease on the 8,627 tests in Q1 24. The figure represents a 9% increase on the 6,699 tests processed in Q2 23. The number of unique ordering clinicians in the US fell 7% through the quarter to 1,147 but is up 17.3% on the 978 clinicians who ordered tests in Q2 23.

Asia Pacific volumes in Q2 24 were 1,190 up 10% on the 1,077 tests processed in Q1 24, and up 2% on the 1,165 tests processed in Q2 23 with the quarter-on-quarter increase largely reflecting an increase in test volumes associated with clinical studies in the region.

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

For more information:

Investors:

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


Media:
Richard Inder
The Project
P: +64 21 645 643

Pacific Edge: 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.

Cxbladder: www.cxbladder.com

Cxbladder is a urine-based genomic biomarker test optimized for the detection and surveillance 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 has been trusted by over 4,400 US urologists in the diagnosis and management of more than 100,000 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.

---

Announcement PDF