Pacific Edge advances APAC business towards profitability

• Pacific Edge announced that its Asia Pacific operations are advancing towards profitability on a direct-cost basis.
• The company's commercial test volumes in the region grew 12.9% quarter-on-quarter, helping reduce quarterly regional cash burn by approximately 9%.
• Growth is being driven by the increased commercial adoption of the higher-priced Cxbladder Triage Plus cancer diagnostic test.

Cancer diagnostics company Pacific Edge (ASX:PEB) announced that its Asia Pacific business is advancing towards profitability on a direct-cost basis following a 12.9% quarterly increase in regional commercial test volumes.

The commercial volume growth to 1,158 tests in the first quarter of the 2027 financial year contrasts with the 1,026 tests recorded in the prior quarter.

"The quarterly performance of the Asia Pacific operations has demonstrated key results that we aim to replicate in the USA," said Pacific Edge CEO Dr Peter Meintjes.

The company stated that increased adoption of its higher-priced Cxbladder Triage Plus test improved regional revenue, while its unaudited Asia Pacific quarterly cash burn reduced 9% quarter-on-quarter to NZ$0.17 million.

The company stated that the combination of volume growth and a higher percentage of Triage Plus tests in the product mix is expected to further improve revenue expectations.

Following the announcement the Pacific Edge share price was unchanged at $0.25.

Total laboratory throughput fell 8.3% to 5,116 tests due to an 82% reduction in clinical trials and investigator-initiated trial volumes.

United States commercial tests also fell 2.4% to 3,295 tests following sales team attrition to 5 full-time equivalent employees ahead of a draft Medicare policy decision.