Pacific Edge (NZX, ASX: PEB), a global cancer diagnostics company leading the development and commercialisation of bladder cancer diagnostic and prognostic tests, announced a pivotal development at its 2026 Annual Shareholders Meeting in Auckland. Chairman Simon Flood confirmed that Medicare Administrative Contractor Novitas has published a draft Local Coverage Determination (LCD) proposing Medicare coverage for both Cxbladder Triage and Cxbladder Triage Plus. These non-invasive genomic urine tests are designed for the evaluation of patients presenting with hematuria, or blood in urine.
This draft LCD is particularly significant as it specifically proposes coverage solely for Pacific Edge’s biomarkers, representing a clear validation of the company’s evidence-led strategy. Mr Flood highlighted this as a “company-defining milestone,” opening a market opportunity estimated to be worth US$10.2 billion annually in revenue. The company anticipates receiving confirmation of a final LCD before the end of 2026, which is expected to provide a clearer reimbursement pathway and re-establish sales momentum.
While Pacific Edge’s FY26 financial results reflected the impact of previous Medicare non-coverage, resulting in reduced operating revenue and a net loss, the company emphasised strategic delivery. This included careful cost management, a reduced cash burn in the second half, and a capital raising to support future growth. The proposed coverage for Triage Plus, with its superior performance and Medicare price, is also expected to improve revenue per reimbursed test, boost margins, and accelerate the company’s path to profitability, supported by growing commercial payer backing in the United States and steady progress in Asia Pacific.
