Pacific Edge Reports Resilient Performance In FY25
Press Release – Pacific Edge
Pacific Edge also announces a NZ$20 million equity raising to capitalize on recent clinical and commercial milestones, grow in non-Medicare channels and regain Medicare coverage. The details of the capital raising are covered in a separate announcement …
AUDITED FINANCIAL RESULTS FOR THE YEAR TO 31 MARCH 2025
30 May 2025
Pacific Edge today reports a resilient financial result for the year to the end of March 2025. Improvements in the performance of the sales force, operating efficiencies and cash collection gains over the financial year have positioned the company well as it works towards regaining Medicare coverage of its tests.
Pacific Edge today also announces a NZ$20 million equity raising to capitalize on recent clinical and commercial milestones, grow in non-Medicare channels and regain Medicare coverage. The details of the capital raising are covered in a separate announcement to the NZX and ASX today.
FY25 FINANCIAL PERFORMANCE2
Operating revenue down 8.6% on FY 24 to $21.8 million, reflecting Medicare uncertainty. Total revenue is down 16% on FY 24 to $24.6 million
Total laboratory throughput3 (TLT) of Cxbladder tests fell 11.5% on FY 24 to 28,894; commercial tests fell 9.9% on FY 24 to 26,42 tests
Tests/Sales FTE in the US for Q4 25 were reported at 405.6, up 6.4% on Q4 24; ASP4 for all commercial tests in the US increases to US$594 in FY 25 vs US$584 in FY 24 as operating efficiencies and cash collection gains continue to improve
Strong performance from the Southern California Permanente Medical Group, increased APAC volume and sustained sales force efficiencies reduce the impact of Medicare uncertainty and the reduced sales team reach
Net loss after tax +1.4% on FY 24 to $29.9 million, 2H 25 net loss +6.4% on 1H 25 led by increased expenditure on clinical research, Triage Plus commercialization and legal fees
Cash, cash equivalents and short-term deposits of $22.6 million at the end of FY25; cash burn of $13.4 million in 2H 25 down 6.7% on 1H 25
FY 25 STRATEGIC PERFORMANCE
Cxbladder Triage included in the American Urological Association (AUA) guidelines with a 'Grade A' evidence rating, the only biomarker to achieve this status
Triage Plus achieves a draft Medicare price of US$1,018.44, a significant premium to the current US$760 per test; full scale commercial launch is now contingent on re-coverage
Medicare coverage discontinued following Genetic Tests for Oncology (Specific Tests) (L39365) becoming effective after balance date (24 April 2025); Pacific Edge is now focused on regaining coverage for Triage and Monitor and obtaining coverage and launch of new products Triage Plus and Monitor Plus
Commercial team focused on profitable territories, non-Medicare revenue streams and selling the clinical and economic value of Cxbladder; Cxbladder Detect discontinued
FY25 Climate Disclosures released in compliance with NZCS
NOTE: PEB HAS RELEASED THIS UPDATE TO THE NZX AND ASX AS PER LISTING RULES [1]
1 PEB has released the information contained in this update to the NZX and ASX as it regards it to be material, as defined in the NZX Listing Rules and Section 231 of the FMC Act.
2 All comparisons are to the same period of the prior financial year unless otherwise stated.
3 Total Laboratory Throughput (TLT) includes commercial, pre-commercial and clinical studies testing.
4 ASP: US Average Sales Price (US Operating Revenue in USD / US Commercial Test Volumes)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
NZ Herald
2 days ago
- NZ Herald
TikTok ban delayed again as Trump grants 90-day extension for US sale
President Donald Trump has given social media platform TikTok another 90 days to find a non-Chinese buyer or be banned in the United States. 'I've just signed the Executive Order extending the Deadline for the TikTok closing for 90 days (September 17, 2025),' Trump posted on his Truth Social platform
Scoop
3 days ago
- Scoop
More Gazans Killed Trying To Get Food, Healthcare Near To ‘Full Disaster'
17 June 2025 'We are walking the fine grey line between operational capacity and full disaster, every day, ' said Dr Thanos Gargavanis, WHO trauma surgeon and emergency officer, speaking from the enclave. The veteran UN medic's comments came amid new reports on Tuesday morning that more Palestinians had been killed trying to access food, this time near an aid distribution site in Khan Younis in southern Gaza. The mass casualty event left 'hundreds of casualties, completely overwhelming Nasser Medical Complex' in Khan Younis, said WHO's Representative in the occupied Palestinian territory, Dr Rik Peeperkorn. No-go zone Across Gaza today, health services are 'barely available' and difficult to access, Dr Peeperkorn said, since more than 80 per cent of Gaza's territory is under evacuation orders. ' The shrinking humanitarian space makes every health activity way more difficult than the previous day,' Dr Gargavanis added. Nasser Medical Complex is the largest referral hospital in Gaza and the only remaining main hospital in Khan Younis. It is situated within the evacuation zone announced by the Israeli military on 12 June. The nearby Al-Amal Hospital - operated by the Palestinian Red Crescent Society (PRCS) - continues to provide services to patients already there, but it is unable to admit anyone else because of ongoing military operations. 'It is what we call a completely minimal functional hospital,' Dr Peeperkorn said. Deadly impact of fuel shortages Only 17 of Gaza's 36 hospitals are currently partially functional, medical supplies are critically low and no fuel has entered the Strip for more than 100 days. The latest mass casualty event is just the latest involving Gazans trying to access aid amid ongoing severe restrictions placed on the amount of aid allowed into the Strip by Israel. On Monday, more than 200 patients arrived at the Red Cross Field Hospital in Al Mawasi - the highest number received by the facility in a single mass casualty incident. Of that number, 28 patients were reportedly declared dead, WHO's Dr Peeperkorn said. Just one day earlier, on 15 June, the same hospital received at least 170 patients, who reportedly had been trying to access a food distribution site. 'The recent food distribution initiatives by non-UN actors every time result in mass casualty incidents,' WHO's Dr Gargavanis insisted. Private aid plan fallout Since late May, the UN and humanitarian partners have been sidelined in Gaza as a new aid distribution model backed by Israel and the United States began operations under the framework of the Gaza Humanitarian Foundation (GHF), which uses private military contractors. The WHO trauma surgeon highlighted a 'constant correlation' between the locations of food distribution spots and the mass casualty incidents in Rafah, in Khan Younis and along the Netzarim corridor. Asked about the type of injuries sustained by those seeking aid, and who is responsible, Dr Gargavanis stressed that WHO is not a forensic agency. 'We're not in a position to clearly identify from the nature of the injury' who has caused it, he said. 'What we can say, though, is that we're talking of gunshot wound injuries, and we're talking of very few incidents of shrapnel injuries.' The UN has repeatedly warned that the new aid distribution system does not meet humanitarian principles of humanity, impartiality, independence and neutrality. The global body has also called for aid restrictions to be lifted. Dr Peeperkorn insisted that the WHO must be facilitated to move supplies into Gaza in a cost-effective manner 'via all possible routes' to prevent further shutdowns of medical services. He said that 33 WHO trucks with supplies are waiting at Al Arish in Egypt to be granted passage into the enclave, with another 15 standing by in the occupied West Bank.
NZ Herald
5 days ago
- NZ Herald
Fonterra food brands sale heats up as Bega and Meiji eye Mainland assets
Interest in Fonterra's Mainland businesses looks to be heating up. ASX-listed Bega Cheese said this week it had advised the Australian Competition and Consumer Commission (ACCC) that it intended to lodge an application to gain informal merger clearance for Bega's potential acquisition of Fonterra Oceania.
