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Pacific Edge Limited ( (PFGTF) ) just unveiled an announcement.
Pacific Edge Limited announced that Novitas, the Medicare Administrative Contractor, has finalized a non-coverage determination, ending Medicare reimbursement for their Cxbladder tests in the US. Despite the company’s efforts to present new evidence and engage with stakeholders, Novitas’ decision poses significant challenges to Pacific Edge’s operations in the US market. In response, Pacific Edge has activated contingency plans to manage finances and pursue potential legal actions to regain coverage, demonstrating their preparedness to navigate this regulatory setback.
More about Pacific Edge Limited
Pacific Edge Limited is a cancer diagnostics company that specializes in developing and providing non-invasive tests for the early detection and management of urothelial cancer, particularly through its Cxbladder product line. The company focuses on offering innovative diagnostic solutions that utilize biomarkers to aid in the stratification of patients, which is crucial for effective medical intervention.
YTD Price Performance: 5.71%
Average Trading Volume: 12,160
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $60.5M
For a thorough assessment of PFGTF stock, go to TipRanks’ Stock Analysis page.
