Pacific Edge announces NZ$20m raise amid resilient FY25 results

Pacific Edge (NZX:PEB) has announced a NZ$20 million capital raise, consisting of a NZ$15 million placement to selected investors and a NZ$5 million share purchase plan for retail investors. The issue is priced at NZ$0.10 per share and is intended to build on recent clinical and commercial milestones, expand into non-Medicare channels, and regain Medicare coverage for its Cxbladder tests. The move coincides with the release of the company's financial results for the year ended March 2025, which were described as resilient despite the uncertainty surrounding Medicare coverage. Operating revenue declined 8.6% to $21.8 million, while total revenue dropped 16% to $24.6 million, reflecting the impact of Medicare challenges. However, there were improvements in key metrics, including rising throughput per sales FTE and a higher average sales price for US testing (US$594). Pacific Edge is actively pursuing a strategy to regain Medicare coverage through reconsideration requests and appeals. Trading in PEB shares was halted on the NZX on May 30, 2025, pending the capital raise. All of Pacific Edge's Directors intend to participate in the equity raising.