Pacific Edge

NZ: PEB

NZD$153.3m market cap

NZD$0.3 last close

Pacific Edge develops and sells a portfolio of molecular diagnostic tests based on biomarkers for the early detection and management of cancer. Tests utilising its Cxbladder technology for detecting and monitoring bladder cancer are sold in the US, New Zealand and Australia.

Investment summary

Pacific Edge recently reported H119 results, including 43% growth in Cxbladder sales compared to H118. These sales exclude tests for patients covered by the US Centers for Medicare and Medicaid Services (CMS), which currently account for 47% of lab throughput. The company is in the process of gaining inclusion in the CMS’s local coverage determination (LCD), which will enable reimbursement and negotiation for payment of more than 14,000 tests previously performed on patients covered by CMS.

Y/E Mar
Revenue (NZ$m)
EBITDA (NZ$m)
PBT (NZ$m)
EPS (c)
P/E (x)
P/CF (x)
2017A 4.4 (22.3) (22.4) (5.9) N/A N/A
2018A 4.6 (19.5) (19.6) (4.5) N/A N/A
2019E 5.0 (17.6) (17.5) (3.5) N/A N/A
2020E 10.2 (13.2) (13.2) (2.6) N/A N/A
Last updated on 18/02/2019
Industry outlook

Molecular diagnostics is a growing, but increasingly competitive field. Lead time from the initiation of user programmes to payment can be long.

Last updated on 18/02/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (NZ$m) 8.5
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (13.0) (26.8) (25.0)
Relative* (14.4) (30.0) (31.8)
52-week high/low NZ$0.4/NZ$0.2
*% relative to local index
Key management
Christopher Swann Chairman
David Darling CEO