Pacific Edge reports steady test volumes in Q1 25

Pacific Edge (ASX: $PEB) announced that the tests processed at its laboratories in the three months to the end of June 2024 remained steady compared to the prior quarter, with a total of 7,188 tests. The US volumes experienced a slight decrease of 3.2% from the previous quarter, while Asia Pacific volumes saw a significant increase of 15.5% to 1,283 tests. The company's sales force efficiency metric improved, and further details on test volumes and other developments in the quarter are included in the investor update released today.

CEO's outlook on upcoming developments

Dr. Peter Meintjes, Chief Executive of Pacific Edge, expressed pride in the sustained commercial performance despite the uncertainty regarding Medicare reimbursement for Cxbladder. He highlighted the upcoming developments in Q2 25, including the finalization of the draft LCD 'Genetic Testing for Oncology', the review of the proposal for Cxbladder Detect+ pricing, and the potential amendment to the 2020 guidelines for the evaluation and management of hematuria. Dr. Meintjes emphasized the significance of these developments in determining the company's results for the current financial year and its strategy for the short to medium term.

Outlook and Ambitions

Pacific Edge's test volumes remained steady in Q1 25, with improvements in the US sales force efficiency and a notable increase in Asia Pacific volumes. The company is anticipating key developments in Q2 25, including the finalization of the draft LCD 'Genetic Testing for Oncology', the review of the proposal for Cxbladder Detect+ pricing, and the potential amendment to the 2020 guidelines for the evaluation and management of hematuria. These developments are expected to have a significant impact on the company's results for the current financial year and its strategy for the short to medium term. Dr. Peter Meintjes, Chief Executive, expressed confidence in the company's ability to provide transparent insight into its strategy and address any questions from shareholders at the upcoming Annual Shareholder Meeting in September 2024.