Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Pacific Edge shares gain 4% on fourth US deal

Pacific Edge shares gain 4% on fourth US deal

By Suze Metherell

May. 26 (BusinessDesk) - Shares in Pacific Edge gained 4 percent after the biotech company said it had signed a deal with US healthcare provider MultiPlan for the use of its non-invasive bladder cancer test, Cxbladder.

The contract is the largest of the four US healthcare provider Pacific Edge has signed up since October last year, with MultiPlan a preferred provider organisation securing cheaper health rates for insurers for more than 900,000 healthcare providers covering an estimated 68 million people. Its previous three deals covered 62.6 million people.

“Our sales and marketing teams are now focussed on the urologists and clinicians who are treating the largest number of bladder cancer patients to ensure they fully understand the value and benefits that Cxbladder provides to them and their patients” Jackie Walker, chief executive of subsidiary Pacific Edge Diagnostics USA, said in a statement.

It is also "advancing" its relationship with state funded insurer, Centre for Medicare and Medicaid Services, which could potentially give it access to a third of the US population, Walker said.

Pacific Edge shares rose 4 cents to $1.03 in early trading. The stock gained 150 percent last year on news of its US deals, and raised some $20 million to drive sales. Since its March debut on the NZX 50 Index the shares have dropped 58 percent amid a global sell off of growth-orientated tech stocks.

The non-invasive bladder cancer test was adopted by New Zealand district health boards earlier this year.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Fonterra: Canpac Site 'Resize' To Focus More On Paediatrics

Fonterra is looking at realigning its packing operations at Canpac, in the Waikato, to focus more on paediatric nutritionals... The proposed changes could mean around 110 roles may not be required at the site which currently employs 330. More>>

ALSO:

Scoop Business: Postie Plus Brand Gets 2nd Chance With Well-Funded Pepkor

The Postie Plus brand is getting a new lease of life after South Africa’s Pepkor bought the failed retailer’s assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More>>

ALSO:

Warming: Warming Signs From State Of Climate Report

Climate data from air, land, sea and ice in 2013 'reflect trends of a warming planet' -- says the latest State of the Climate report, launched by U.S. and New Zealand scientists. More>>

ALSO:

Scoop Business: Embrace Falling Home Affordability, Says NZIER

Despair over the inability to afford a house is misplaced and should be embraced as an opportunity to invest in more wealth-creating activity, says the principal economist at the New Zealand Institute of Economic Research, Shamubeel Eaqub. More>>

Productivity Commission: NZ Regulation Not Keeping Pace

New Zealand regulators often have to work with out-of-date legislation, quality checks are under strain, and regulatory workers need better training and development. More>>

ALSO:

Callaghan Innovation: Investment To Help Deepen Innovation Reporting

Callaghan Innovation, the government’s high tech HQ for Kiwi business, is to help deepen New Zealand media coverage of the commercialisation of innovation through an arms-length partnership with independent business news service BusinessDesk. More>>

ALSO:

Tax Credits, Grants: Greens $1Bn R&D Plan

In the Party’s headline economic announcement, the Greens have launched their plan to build a smarter, more innovative economy which has as its centrepiece an additional $1 billion of government investment in research and development (R&D) above current spend, including tax breaks for business. More>>

ALSO:

Inflation: CPI Increases 0.3 Percent In June Quarter

The consumers price index (CPI) rose 0.3 percent in the June 2014 quarter, Statistics New Zealand said today. This follows rises of 0.3 percent the March quarter and 0.1 percent in the December 2013 quarter. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news