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"... TRADING HALT UPDATE: NOVITAS PROPOSES CHANGES TO LCD
DUNEDIN, New Zealand - Cancer diagnostics company Pacific Edge (NZX, ASX: PEB) became aware overnight (NZT) of the inclusion of Cxbladder CPT codes in a draft proposal for a different approach to determine which cancer biomarker tests are eligible for reimbursement by Novitas. The publication of the proposed approach for Genetic Testing in Oncology is set out in a draft Local Coverage Determination (LCD, DL39365) and a draftLocal Coverage Article (LCA, DA59125). Pacific Edge will provide its shareholders with further clarification of the implications for Pacific Edge once it has received advice from its US legal team and other advisors prior to lifting the current trading halt. ..."
Unless I am reading this incorrectly this sounds more like good news than bad. I read that PEB has surprisingly just learned that its tests are now to be included in a draft proposal for funding biomarkers, not that its tests have removed from such a list. This is inclusion and therefore increased business rather than less.
Last edited by
BobF:
30/07/22
