PEB - Pacific Edge Ltd

[850man]

CMS LCA59417 dated 2 June 2023 states “At this time, the Contractor does not have an LCD with a positive coverage statement for any of the Pacific Edge Diagnostics tests which include the Cxbladder Detect (CPT code 0012M) and Cxbladder Monitor (CPT code 0013M). These CPT codes are only located in the article Billing and Coding: Molecular Pathology and Genetic Testing A58917 which includes the statement “This instruction focuses on coding and billing for molecular pathology diagnostics and genetic testing. Nothing stated in this instruction implies or infers coverage.”


PEB made an announcement on 3 July 2020 - “PACIFIC EDGE NOTIFIED OF POSITIVE LCD DECISION IN USA. Transformational reimbursement milestone for Pacific Edge with notification of LCD coverage for CMS patients in the USA. The LCD coverage facilitates reimbursement for CMS patients using Cxbladder Detect and Cxbladder Monitor. New Zealand bladder cancer diagnostics provider, Pacific Edge Limited (NZX:PEB), has been notified by Novitas that the LCD: Biomarkers for Oncology (L35396) provides coverage for Cxbladder, CPT codes 0012M (Cxbladder Detect) and 0013M (Cxbladder Monitor), for tests performed on or after July 1, 2020 that are medically necessary.


On 2/6/2023 CMS advises that there has never been any coverage for CXB yet PEB advised the market on 3/7/2020 that there was. Misleading??

[Balance]

Dave has really given Pete the hospital pass here right. Can't help but feel for the guy but there is still an outstanding amount of BS going on. They KNEW they did not have cover.

And the fund managers who underwrote the CRs and have large shareholdings obviously did not do enough due diligence and understand how tenuous PEB’s LCD coverage was.

Oh well, not going to worry them as it’s not their money.

[RTM]

A lot of very careful wordsmithing going on. That is being critically reviewed before publication.
Yes Balance, simply unbelievable.

Unbelievable that there’s no announcement from PEB first thing this morning.

Says a lot imo about how inept & out of touch the management of this company really really are.

Un-investable.

Dave has really given Pete the hospital pass here right. Can't help but feel for the guy but there is still an outstanding amount of BS going on. They KNEW they did not have cover.

[psychic]

CMS LCA59417 dated 2 June 2023 states “At this time, the Contractor does not have an LCD with a positive coverage statement for any of the Pacific Edge Diagnostics tests which include the Cxbladder Detect (CPT code 0012M) and Cxbladder Monitor (CPT code 0013M). These CPT codes are only located in the article Billing and Coding: Molecular Pathology and Genetic Testing A58917 which includes the statement “This instruction focuses on coding and billing for molecular pathology diagnostics and genetic testing. Nothing stated in this instruction implies or infers coverage.”


PEB made an announcement on 3 July 2020 - “PACIFIC EDGE NOTIFIED OF POSITIVE LCD DECISION IN USA. Transformational reimbursement milestone for Pacific Edge with notification of LCD coverage for CMS patients in the USA. The LCD coverage facilitates reimbursement for CMS patients using Cxbladder Detect and Cxbladder Monitor. New Zealand bladder cancer diagnostics provider, Pacific Edge Limited (NZX:PEB), has been notified by Novitas that the LCD: Biomarkers for Oncology (L35396) provides coverage for Cxbladder, CPT codes 0012M (Cxbladder Detect) and 0013M (Cxbladder Monitor), for tests performed on or after July 1, 2020 that are medically necessary.


On 2/6/2023 CMS advises that there has never been any coverage for CXB yet PEB advised the market on 3/7/2020 that there was. Misleading??

The trick here is in the last few words, tests covered "that are medically necessary". They have cover when they are, but they are not.

Dave the magician. Called them "medically necessary tests" lol

[percy]

https://www.nzx.com/announcements/412643

[winner69]

Remember when PEB won a prestigious investor relations award in 2021

Judges said: “Pacific Edge clearly demonstrated alignment between its Investor Relations strategy and outcomes delivered, such as increased sell side coverage and conversion of interest to investment. During 2020, Pacific Edge kept the market informed as headlines came thick and fast taking advantage of the acceleration of Covid-19 trends - both for the company (telehealth) and in its engagement with shareholders/potential shareholders via increased virtual engagement. The combination of improved investor engagement and positive milestones for Pacific Edge has seen the company deliver excellent investor outcomes through 2020 with its share price re-rating strongly, liquidity improving and the number and diversity of shareholders increasing.”

[Balance]

10c by the end of next week if one of the big holders like ANZ or Harbour decides to get rid of this embarrassment in their portfolios?

[winner69]

No worries … just a hiccup on our journey to greatness …….we will push on with that journey

http://nzx-prod-s7fsd7f98s.s3-websit...643/396025.pdf

[bull....]

so its worth 9c eh + goodwill for there remaining product

even worse than i thought

[bull....]

who loaded up 9c cash on balance sheet ?