The approvals gives Pacific Edge access to about 20 million Americans. Photo: Supplied / Pacific Edge
Cancer diagnostics company Pacific Edge's shares are in a trading halt while it considers the implications of new information from the United States federal health insurer.
The Dunedin-based firm had been waiting two years to learn whether Medicare will cover the cost of its bladder cancer tests in the US.
In a statement to the NZX, Pacific Edge said Medicare's administrator Novitas has published a draft local coverage determination covering the reimbursement of its tests.
"The determination covers significant new information and Pacific Edge 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."
The company said Medicare's draft release covers significant new information, including the reimbursement of its tests, and it would not be commenting further ahead of its update to the share market on Monday morning, when the trading halt is expected to lift.
Pacific Edge recently reported a first-half loss of $14.7 million, with revenue down by a quarter.
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