Review of Pacific Edge's Medicare Coverage Extended

MT Newswires Live07-29

A review that would determine the eligibility of Pacific Edge's (NZE:PEB, ASX:PEB) cancer diagnostics products under Medicare's reimbursement coverage has been extended, although the timeframe remains unknown, according to a Monday filing with the New Zealand and Australian bourses.

Novitas, the Medicare Administrative Contractor responsible for Pacific Edge's US lab, received an extension to finalize or withdraw the "local coverage determination for genetic testing for oncology" following feedback from interested parties, the filing said. The extension means Pacific Edge's Cxbladder, a suite of non-invasive tests to rule out bladder cancer, will continue to receive reimbursement from Medicare and Medicare Advantage payers.

Pacific Edge's shares were up more than 1% in recent Monday trade in New Zealand.

Price (AUD): $0.10, Change: $+0.001, Percent Change: +1.06%

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