Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Pacific Edge Limited ( (PFGTF) ) has issued an update.
Pacific Edge Limited has been impacted by the recent ‘Genetic Testing in Oncology: Specific Tests’ Local Coverage Determination, which has halted Medicare coverage for its Cxbladder tests in the US. Despite legal and advocacy efforts, the company has not succeeded in reversing this decision and will now focus on Medicare appeals and reconsideration requests for its Cxbladder Triage and Monitor tests. The company plans to continue working with partners like Kaiser Permanente and expects to maintain reimbursement from commercial payers. The decision is expected to significantly affect testing volumes, but Pacific Edge remains committed to evidence generation and pursuing available pathways for Medicare coverage.
More about Pacific Edge Limited
Pacific Edge Limited is a global cancer diagnostics company specializing in the development and commercialization of bladder cancer diagnostic and prognostic tests. Headquartered in Dunedin, New Zealand, the company offers its Cxbladder suite of non-invasive genomic urine tests for patients with hematuria or those under surveillance for recurrent disease, through its laboratories in New Zealand and the USA.
YTD Price Performance: -12.68%
Average Trading Volume: 15,850
Technical Sentiment Signal: Buy
Current Market Cap: $55.22M
For a thorough assessment of PFGTF stock, go to TipRanks’ Stock Analysis page.