Pacific Edge

NZ: PEB

Market CapNZD$895.8m

Last Close NZD$1.23

Pacific Edge develops and sells 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 United States, New Zealand, Australia and Singapore.

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Investment summary

Pacific Edge develops and sells a portfolio of molecular diagnostic tests based on biomarkers for the early detection and management of cancer. Tests using its Cxbladder technology for detecting and monitoring bladder cancer are sold in the United States, New Zealand, Australia and Singapore. The outlook for growth in the US business is strong as there was a local coverage determination enabling reimbursement at US$760 per test from the US Centers for Medicare and Medicaid Services on all tests after 1 July 2020; commercial test orders to Kaiser Permanente, one of the largest non-profit healthcare providers in the United States, started in November; and United Healthcare, the largest commercial health insurer in the country, announced coverage as of 1 April 2021 for its 5.7 million Medicare Advantage patients.

Y/E Mar
Revenue (NZ$m)
EBITDA (NZ$m)
PBT (NZ$m)
EPS (c)
P/E (x)
P/CF (x)
2019A 4.8 (17.8) (17.8) (3.5) N/A N/A
2020A 5.0 (17.7) (18.8) (3.2) N/A N/A
2021E 13.2 (13.4) (14.5) (2.0) N/A N/A
2022E 34.3 0.8 (0.9) (0.1) N/A 560.2
Industry outlook

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

Last updated on 26/07/2021
Content on Pacific Edge
Pacific Edge – CMS reimbursement obtained
Healthcare | Update | 20 July 2020
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Share price graph
Balance sheet
Forecast net cash (NZ$m) 21.6
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 0.0 7.9 78.3
Relative* (0.3) 8.2 67.4
52-week high/low NZ$1.2/NZ$0.6
*% relative to local index
Key management
David Darling CEO