reports
Pacific Edge Limited: 1 director
A director at Pacific Edge Limited bought 397,942 shares at 0.136NZD and the significance rating of the trade was 57/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years ...
Increased risk weighs on PACIFIC EDGE, penalising its rating down to ...
The independent financial analyst theScreener just lowered the general evaluation of PACIFIC EDGE (NZ), active in the Biotechnology industry. As regards its fundamental valuation, the title still shows 0 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Negative. As of the analysis date February 8, 2022, the closing price was NZ...
- Sean Conroy
Pacific Edge - Termination of coverage
Edison Investment Research is terminating coverage on Kcell Joint Stock Company (KCEL), Locate Bio, Pacific Edge (PEB), Tungsten Corporation (TUNG) and VEF (VEMF). Please note you should no longer rely on any previous research or estimates for these companies. All forecasts should now be considered redundant. Previously published reports can still be accessed via our website.
- Sean Conroy
Pacific Edge - Operating revenue up 46% on strong US growth
The company recently reported results for H1 FY21, featuring a 46% y-o-y increase in Cxbladder sales to NZ$3.3m. The US business grew 46% to NZ$2.9m and was assisted by the inclusion of Cxbladder into a local coverage determination (LCD) enabling reimbursement at US$760 per test from the US Centers for Medicare and Medicaid Services (CMS) on all tests after 1 July (corresponding to the second half of H1 FY21). The outlook for growth in the US business is strong due to the change in reimbursement...
- Sean Conroy
Pacific Edge - CMS reimbursement obtained
Pacific Edge announced that it has successfully gained inclusion into a local coverage determination (LCD) enabling reimbursement at US$760 per test from the US Centers for Medicare and Medicaid Services (CMS). This reimbursement decision covers the Cxbladder Detect and Cxbladder Monitor products that currently account for 93% of the total laboratory throughput in the US for Cxbladder products. This is a transformative milestone for Pacific Edge as it should lead to greater usage of Cxbladder (b...
- Sean Conroy
Pacific Edge - CMS coverage pending
Pacific Edge continues to make progress commercialising its Cxbladder suite of bladder cancer diagnostics products, with three of the four Cxbladder tests available in the US market. Cxbladder was recently included in the National Comprehensive Cancer Network (NCCN) guidelines for bladder cancer. The company also submitted an updated evidence dossier to its Medicare Administrative Contractor (MAC), which may decide in Q2 CY20 whether Cxbladder will be included in a Local Coverage Determination (...
- Maxim Jacobs
Pacific Edge - 2019 finishes strongly
Pacific Edge recently reported FY19 results, including 12.3% growth in Cxbladder sales compared to FY18. These sales exclude tests for patients covered by the US Centers for Medicare and Medicaid Services (CMS), which currently account for approximately 50% of lab throughput. Total lab throughput increased by 8.6% during the year, with Q419 up 26% compared to Q418 and up 12% compared to the prior quarter. Rest of world (ROW) throughput (which represents 20% of the total) increased by 126% in the...
- Maxim Jacobs
Pacific Edge - Fast growth negatively impacted by NZ IFRS 15
Pacific Edge recently announced that it has adopted the new revenue recognition accounting standard, NZ IFRS 15, for FY18. This means that revenue from US customers will only be recognised once cash payment is received (previously it also included tests that had been billed but not yet paid). As a result, the company restated FY17 operating revenue from NZ$8.1m to NZ$3.2m and reported NZ$3.4m for FY18. Total revenue would have been up 26.3% without the accounting change but under NZ IFRS 15 this...
- Maxim Jacobs
Pacific Edge - Anticipating commercial growth
Pacific Edge continues to make progress commercialising its suite of bladder cancer diagnostics products, with three tests currently available in the US market. An uplift in sales is expected as TRICARE and the Veterans Administration (VA) are under contract, although the exact timing of a sales ramp is unknown. In addition, the company’s discussions with Kaiser Permanente are nearing a final decision and progress has been made with achieving inclusion in the local coverage determination (LCD)...
- Maxim Jacobs
A growth year
Pacific Edge continues to make progress in the commercialisation of its bladder cancer diagnostics tests, reporting 35% growth in the number of tests analysed and a 62% increase in operating revenue. The potential for a significant sales ramp exists as TRICARE and the Veterans Administration (VA) are now under contract and expected to come online commercially in FY18. Also, discussions with Kaiser Permanente are nearing conclusion and progress has been made with the Centers for Medicare and Medi...
- Maxim Jacobs
Launches continue to progress
Pacific Edge continues to make progress in the commercialisation of its bladder cancer diagnostics tests in the US, with three tests currently available in the US market. The company signed a contract with Tricare, which handles the healthcare for uniformed service members and their families, and successfully completed a User Programme with Kaiser Permanente (KP), validating the performance of the Cxbladder Triage and the Cxbladder Detect tests. Additionally, the company’s newest test, Cxbladder...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
Outlook: On the road to full US commercialisation
Pacific Edge has made solid progress in recent months toward the start of broad commercialisation of its bladder cancer diagnostics tests in the US, with a third test becoming available there in mid-2016. In February, the Veterans Administration (VA) handed down a positive decision on its Cxbladder testing technology just as large-scale User Programmes in the US near completion. The Kaiser Permanente (KP) pilot is expected to be completed by the end of 2016 and could result in significant sales ...
Update: Moving towards key decision points
Pacific Edge continues to make progress commercialising its bladder cancer diagnostics tests as key user programmes move towards critical junctures. We anticipate the company will convert user programmes into full commercial contracts over the next year, while new programmes continue to be initiated. We also expect decisions on a go-ahead for commercialisation with key public health organisations in the US, while laboratory throughput of Cxbladder tests continues to move upwards, reflecting stea...
Update: Rights offer to support expansion
Pacific Edge raised NZ$35.3m in a rights issue, which completed in early July. Funds are to be used mainly to provide cash for continued commercialisation of its Cxbladder diagnostics tests in its primary US market, as well as to fuel international expansion. The company also recently announced its first User Programme in South-East Asia with the completion of an agreement with Singaporean hospital Tan Tock Seng representing the start of its stated intent to capture the significant South- East A...
Update: User programmes underway
Pacific Edge’s bladder cancer diagnostics tests have been available in the US, New Zealand and Australia for over a year and initial sales indicate a steady ramping-up of adoption in both new customers embarking on User Programmes, as well as initial evaluations and commercial sales from existing customers. We expect news related to the conversion of these programmes into full commercial contracts in the next year. Negotiations are also well underway with key public health organisations in the...
Update: Early signs of revenue traction
Pacific Edge has reported encouraging headline results for its fiscal H115 ending in September. Sales reached NZ$1.59m, of which NZ$714k was attributed to trading revenue, a 774% increase from the previous year. The net loss of NZ$4.9m in the six months to September was roughly in line with the previous six-month period, indicating continued lean management and cost control. Additionally, the company has announced the launch of complementary bladder test Cxbladder Triage in New Zealand. We value...
Initiation: On the edge of glory
Pacific Edge (PEB) launched Cxbladderdetect, the first of its portfolio of urothelial cancer diagnostic tests, into the key US market in mid-2013. Sales from paying customers are beginning to feed through following the conclusion of initial user programmes and negotiations are fully underway with key public health organisations. We expect meaningful sales from Cxbladderdetect in calendar 2015 and positive cash flow for the company in calendar 2016. We value Pacific Edge at NZ$1.16 per share.
QuickView: Advances in bladder cancer diagnosis
Pacific Edge is driving the commercial launch of its molecular diagnostic Cxbladderdetect in the US in 2014. The advantage of the test is its greater accuracy in detecting cancer, particularly at the early stages, than established methods, and it is a faster, less invasive, more cost-effective option. It is also preparing to launch line extension Cxbladdertriage in Q314 as an additional tool for urologists. The market opportunity for Cxbladderdetect in the US alone is greater than NZ$600m.
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