PEB - Pacific Edge Ltd

[jonu]

Going down to the wire! I think this is positive. Still in discussions.

Discl: Holding

PEB
26/07/2024 09:42
GENERAL
PRICE SENSITIVE
REL: 0942 HRS Pacific Edge Limited

GENERAL: PEB: Medicare Coverage Determination Still Under Review

MEDICARE COVERAGE DETERMINATION STILL UNDER REVIEW

DUNEDIN, New Zealand - Cancer diagnostics company Pacific Edge (NZX, ASX:
PEB) notes that Novitas, the Medicare Administrative Contractor (MAC) with
responsibility for Pacific Edge's US lab remains in discussion with the
Centers for Medicare & Medicaid Services (CMS) regarding the Local Coverage
Determination (LCD) 'Genetic Testing for Oncology' (DL 39365).

Pacific Edge expected the finalization of the LCD overnight, i.e. within 365
days of initial posting. The company reached out to Novitas for comment
overnight and was notified that: "[Novitas] is currently in discussion with
the Centers for Medicare & Medicaid Services (CMS) regarding this proposed
LCD. A timeframe for finalization is not available at this time. Please
continue to watch our website for any future updates."

The continued deliberation on the LCD means that Pacific Edge's tests
Cxbladder Triage, Detect and Monitor continue to receive reimbursement from
Medicare and Medicare Advantage payers in line with historical reimbursement
rates and subject to medical necessity guidelines.

Pacific Edge continues to expect Novitas to finalize the LCD, but the
timeframe is unknown. Pacific Edge will update shareholders as it gains
certainty on the status of the LCD and the timeline for its resolution.
Pacific Edge will not be making further comment on the matter until then.

Released for and on behalf of Pacific Edge by Grant Gibson Chief Financial
Officer.

For more information:

Investors:
Dr Peter Meintjes
Chief Executive
Pacific Edge
P: 022 032 1263

[pierre]

Deleted - already posted.

[Mel]

An interim update of sorts, with the deadline not strictly a deadline?
https://businessdesk.co.nz/nzx-announcements/435141

[850man]

I was of the understanding that Novitas had to finalise the LCD within 365 days of it's creation (so 27 July deadline USA time) or it lapses and dies altogether, coverage remains. They do not have the option to continue to drag this out.

[jonu]

I was of the understanding that Novitas had to finalise the LCD within 365 days of it's creation (so 27 July deadline USA time) or it lapses and dies altogether, coverage remains. They do not have the option to continue to drag this out.

Either way, the fact they are still talking about it surely reflects that someone is arguing for PEB. A NO would be straight forward. This feels like....give us a reason to include it.

Discl Holding

[snigmac]

This is really confusing...the company should be in a trading halt given the uncertainty. IT looks like PEB will have coverage for another year unless a decision is released on Friday US time??

[Cabinet]

It is so difficult being an optimistic holder sometimes.

[snigmac]

How can there be uncertainty with the timeline if the due date is 26 July 2024 US time...

[flyinglizard]

How can there be uncertainty with the timeline if the due date is 26 July 2024 US time...

They said it is 26th ?

[snigmac]

They said it is 26th ?

PEB said it's the 26th July 2024 US time. With this due date in mind, Novitas' communications is extra confusing as the communication indicates that the deadline no longer applies ?