NZX-listed cancer diagnostics company Pacific Edge has gone into a trading halt while it considers the impact of "significant new information" in a draft Local Coverage Determination for funding of its CX bladder tests in the US.
It said the company is aware Novitas, the Medicare Administrative Contractor with jurisdiction for the company’s US laboratory, has finalised the long-awaited LCD draft covering reimbursement of its tests. It’s an issue that has dominated the company’s business since June 2023.
“Pacific Edge is currently reviewing the LCD and the associated documentation and needs time to assess the implications of the announcement, consult with US legal advisers and industry partners, and prepare an announcement that provides context to investors,” it said in the trading halt application.
The loss-making company will provide an update to the market before trading resumes on Monday. Forsyth Barr analysts have said the company may need to raise more capital this year.
Property listings site Realestate.co.nz says new property listings slumped to their lowest level for any December since it started tracking listings data 17 years ago. The national average asking price was also its lowest since April 2021 at $842,476, it said. Site spokesperson Vanessa Williams said while the market generally cools in December, the end of last year was "record-breakingly quiet”. Despite this, healthy stock levels and some regional ‘hotspots’ meant opportunities remained for buyers and sellers. That saw nine of 19 regions also reach their lowest-ever December levels in Northland, Auckland, Waikato, Bay of Plenty, Hawke’s Bay, Taranaki, Wellington, Central Otago/Lakes District, and Manawatu/Whanganui. That saw new listings fall by almost 60% month-on-month, from 11,129 in November to 4767.
NZX-listed cancer diagnostics company Pacific Edge has gone into a trading halt while it considers the impact of "significant new information" in a draft Local Coverage Determination for funding of its CX bladder tests in the US.
It said the company is aware Novitas, the Medicare Administrative Contractor with jurisdiction for the company’s US laboratory, has finalised the long-awaited LCD draft covering reimbursement of its tests. It’s an issue that has dominated the company’s business since June 2023.
“Pacific Edge is currently reviewing the LCD and the associated documentation and needs time to assess the implications of the announcement, consult with US legal advisers and industry partners, and prepare an announcement that provides context to investors,” it said in the trading halt application.
The loss-making company will provide an update to the market before trading resumes on Monday. Forsyth Barr analysts have said the company may need to raise more capital this year.
Property listings site Realestate.co.nz says new property listings slumped to their lowest level for any December since it started tracking listings data 17 years ago. The national average asking price was also its lowest since April 2021 at $842,476, it said. Site spokesperson Vanessa Williams said while the market generally cools in December, the end of last year was "record-breakingly quiet”. Despite this, healthy stock levels and some regional ‘hotspots’ meant opportunities remained for buyers and sellers. That saw nine of 19 regions also reach their lowest-ever December levels in Northland, Auckland, Waikato, Bay of Plenty, Hawke’s Bay, Taranaki, Wellington, Central Otago/Lakes District, and Manawatu/Whanganui. That saw new listings fall by almost 60% month-on-month, from 11,129 in November to 4767.
NZX-listed cancer diagnostics company Pacific Edge has gone into a trading halt while it considers the impact of "significant new information" in a draft Local Coverage Determination for funding of its CX bladder tests in the US.
It said the company is aware Novitas, the Medicare Administrative Contractor with jurisdiction for the company’s US laboratory, has finalised the long-awaited LCD draft covering reimbursement of its tests. It’s an issue that has dominated the company’s business since June 2023.
“Pacific Edge is currently reviewing the LCD and the associated documentation and needs time to assess the implications of the announcement, consult with US legal advisers and industry partners, and prepare an announcement that provides context to investors,” it said in the trading halt application.
The loss-making company will provide an update to the market before trading resumes on Monday. Forsyth Barr analysts have said the company may need to raise more capital this year.
Property listings site Realestate.co.nz says new property listings slumped to their lowest level for any December since it started tracking listings data 17 years ago. The national average asking price was also its lowest since April 2021 at $842,476, it said. Site spokesperson Vanessa Williams said while the market generally cools in December, the end of last year was "record-breakingly quiet”. Despite this, healthy stock levels and some regional ‘hotspots’ meant opportunities remained for buyers and sellers. That saw nine of 19 regions also reach their lowest-ever December levels in Northland, Auckland, Waikato, Bay of Plenty, Hawke’s Bay, Taranaki, Wellington, Central Otago/Lakes District, and Manawatu/Whanganui. That saw new listings fall by almost 60% month-on-month, from 11,129 in November to 4767.