Pacific Edge - CMS reimbursement obtained

Pacific Edge announced that it has successfully gained inclusion into a local coverage determination (LCD) enabling reimbursement at US$760 per test from the US Centers for Medicare and Medicaid Services (CMS). This reimbursement decision covers the Cxbladder Detect and Cxbladder Monitor products that currently account for 93% of the total laboratory throughput in the US for Cxbladder products. This is a transformative milestone for Pacific Edge as it should lead to greater usage of Cxbladder (both from CMS and private payers) as well as payment on tests previously performed. As a reminder, 21,789 Cxbladder tests were performed on CMS patients as of 31 March 2020, accounting for 43% of US commercial tests.