Thursday 29th July 2021
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Cancer diagnostics company, Pacific Edge Limited has reported a continuation of the positive growth momentum seen in the second half of the prior financial year, with sales of its Cxbladder tests continuing their strong growth.
The company, which is holding its Annual Meeting in Dunedin today, has delivered a record quarter in both test throughput and cash receipts for the three months from 1 April to 30 June 2021.
Laboratory throughput has risen consistently over the last five quarters
* 179% on the same time last year
* 109% increase on the preceding quarter (Q4 FY21)
Cash Receipts from Customers also continue to grow as reimbursement success and volumes grow.
* 242% on the same time last year
* 121% increase on the preceding quarter (Q4 FY21)
Pacific Edge has a positive growth outlook, with opportunities being addressed in each of its key markets. The priorities going forward are to firstly encourage commercial use of Cxbladder by large scale institutional healthcare organisations in each market; and secondly, to encourage customers to include multiple products from the Cxbladder suite of tests in their standard of care and mainstream commercial use.
CEO David Darling said: “Our recent progress and commercial achievements over FY21 underpin our future growth. We are now seeing the commercial benefits of our efforts and the resources that have gone into the development and commercialisation of our Cxbladder technology, rolling into the company’s performance in the first quarter of FY22.”
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