Pacific Edge advances US commercial recovery progress
- Pacific Edge flagged proposed Medicare price hikes of 35% to 39% for its Cxbladder products.
- The company's share price traded lower following the Q2 FY27 market operational update.
- Strategy remains focused on securing US Medicare coverage and expanding in-network commercial health plans.
Cancer diagnostics business Pacific Edge (ASX:PEB) reported progress in its US commercial recovery strategy after securing proposed Medicare price hikes of up to 39%.
This development compares to prior periods where US test volumes fell 13% to 2,867 tests amid reduced commercial spending.
"The proposed pricing increases for Triage and Monitor, in-network contracting with Blue Cross plans and continued progress with Triage Plus are encouraging signs that the building blocks for US commercial recovery are falling into place," said Pacific Edge CEO Dr Peter Meintjes.
The proposed Medicare rates would raise Cxbladder Monitor from US$760 to US$1,026 and Cxbladder Triage from US$760 to US$1,058, while Blue Cross contracts added 8 million covered lives.
Pacific Edge stated that final Medicare coverage remains its primary near-term focus before the end of the calendar year.
Following the announcement, the Pacific Edge share price was down at $0.18.
The company specialises in non-invasive genomic diagnostic tests designed to assist clinicians in the early detection and monitoring of bladder cancer.
