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Pacific Edge (PEB)

Business description

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.

Rights offer to support expansion

Update | Pharmaceutical & healthcare | 17/08/2015

Pacific Edge raised NZ$35.3m in a rights issue, which completed in early July. Funds are to be used mainly to provide cash for continued commercialisation of its Cxbladder diagnostics tests in its primary US market, as well as to fuel international expansion. The company also recently announced its first User Programme in South-East Asia with the completion of an agreement with Singaporean hospital Tan Tock Seng representing the start of its stated intent to capture the significant South- East Asian market. Pacific Edge also reported full-year results at the end of May, largely in line with our expectations.

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Stock data

Market cap.NZ$104.9m
Last closeNZ$0.230
High / Low (52 weeks)NZ$0.5 / NZ$0.2
Stock market listingNZ
Forecast net debt (NZ$m)0.3
Forecast gearing ratio (%)189
SectorPharmaceutical & healthcare

Price performance

Relative *(30.4)(43.7)(59.6)

* % Relative to local index

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