INDEPENDENT NEWS

Pacific Edge 2017 Annual Meeting

Published: Fri 25 Aug 2017 11:09 AM
Pacific Edge 2017 Annual Meeting
Pacific Edge held its Annual Meeting in Dunedin on 24 August 2017, updating shareholders on its strategic progress, particularly in the US which is the company’s primary opportunity. A positive and supportive group of shareholders attended both in Dunedin and on-line utilising an interactive meeting platform.
Chairman Chris Gallaher affirmed Pacific Edge’s key objective to be the leading molecular diagnostics technology for the detection and management of bladder cancer, and said the company was making strong progress towards its goal.
“Bringing new medical products to market, which seek to disrupt decades of standard clinical pathways takes time, investment and you must have the correct building blocks in place. We have built a strong foundation in the US with all of the necessary pieces in place to succeed in this market.
“Our company is in a long game, the opportunity before us is very significant and we are still in early stages of our life cycle. We are now on the cusp of realising this potential for the benefit of our shareholders.”
CEO of Pacific Edge, David Darling, updated shareholders on progress in the year to date, citing the recently announced acceptance of Cxbladder in the Standard of Care by MidCentral District Health Board, as an example of the growing recognition of the positive benefits of Cxbladder for both patients and the healthcare provider.
“We have maintained a consistent growth strategy and are delivering on our planned outcomes. Moving forward, you can expect to see more of the same as we continue to focus on gaining traction in the US and our other targeted markets.
“We are making strong commercial progress and expect to see sales continue to grow in FY18 as the large scale organisations we are targeting transition into commercial customers and build significant sales volume. A 62% increase in operating revenue and a reduction in operating expenses of 4% over the last year is a great step forward for a young growth company.
“To now have four proprietary molecular tests providing increased clinical resolution across the entire bladder cancer pathway is a world first and sets the company up for its growth. It’s now our job to monetise this,” said David Darling.
Shareholders voted in favour of all resolutions at the 2017 Annual Meeting.For full details of the results, please see the attached release.
ENDS

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