PEB-Pacific Edge

[Shareguy]

I added to my position after looking at the AGM yesterday.  This halt could also be bad news.......

[Pierre]

Shareholders were clearly advised at yesterday's meeting the company has no need for a cap raise, nor is it listing on the NASDAQ - they would only do that to raise cash.

It's hard to imagine some incredibly bad news has arisen overnight so I am optimistic we can expect something positive from this Trading Halt.

[Basil]

Depending on what the Trading Halt is about, Basil Beagle may be regretting he didn't buy a ticket for the PEB roller coaster yesterday.

The very well fed dog is more than content to leave speculative companies to others.  Good luck.

[Crackity]

REALLY BIG NEWS on the way ..... or maybe takeover (ie get out of jail card) at $1.50

Trading halt can't be for anything bad

Reasons for trading halt:
Cancer diagnostics company Pacific Edge (NZX, ASX: PEB) became aware overnight (NZT) of the inclusion of Cxbladder CPT codes in a draft proposal for a different approach to determine which cancer biomarker tests are eligible for reimbursement by Novitas.
The publication of the proposed approach for Genetic Testing in Oncology is set out in a draft Local Coverage Determination (LCD, DL39365) and a draft Local Coverage Article (LCA, DA59125).
Pacific Edge will provide its shareholders with further clarification of the implications for Pacific Edge once it has received advice from its US legal team and other advisors prior to lifting the current trading halt.
The trading halt will remain in place until a further announcement from PEB on Monday 1 August 2022, with trading expected to resume at market open on Monday, 1 August 2022.
We confirm that we are not aware of any reason why the trading halt should not be granted. Yours sincerely

[Shareguy]

Looking like cover may of been removed

https://www.cms.gov/medicare-coverage-database/view/article.aspx?articleId=59124&ver=8

[winner (n)]

Looking like cover may of been removed

https://www.cms.gov/medicare-coverage-database/view/article.aspx?articleId=59124&ver=8

Doesn't look that good does it shareguy

And everybody was on cloud 9 yesterday afternoon.

Hope it turns out OK

[Left Field]

Looking like cover may of been removed

https://www.cms.gov/medicare-coverage-database/view/article.aspx?articleId=59124&ver=8

Too early to judge....

Draft Articles are works in progress and not necessarily a reflection of the current billing and coding practices. Revisions to codes are carefully and thoroughly reviewed and are not intended to change the original intent of the LCD.

[Left Field]

I blame Winner for getting me excited...

Glad I went for a walk instead of buying that new Porche lol!

[Shareguy]

This is the original NZX announcement of coverage.(3/7/20) with CX Bladder codes 0012M and 0013M.

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/PEB/355757/325821.pdf

My read with the "Draft" changes to MCD is that these codes have been added to group 6.  If you look further down the CMC doc, it states group 6 non covered CPT codes.

So yes it's only a "draft" but I take it to be terrible news which is going to have a "material negative impact on the share price.

Note: I could be reading this completely wrong and the announcement is stated as a "draft" 

[winner (n)]

This is the original NZX anouncement of coverage.(3/7/20) with CX Bladder codes 0012M and 0013M.

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/PEB/355757/325821.pdf

My read with the "Draft" changes to MCD is that these codes have been added to group 6.  If you look further down the CMC doc, it states group 6 non covered CPT codes.

So yes its only a "draft" but I take it to be terrible news which is going to have a "material negative impact on the share price.

Note: I could be reading this completly wrong and the anouncement is stated as a "draft" 

In the words of our Dave this could be 'transformational'

But you'd think that things can't turn to custard so quickly

[Rockchoppers]

It does not look good.

CMS makes up 65% of revenue in the USA currently. Now just two short years after being accepted they are removed (I'd be very interested to know why).

Share price will be absolutely devastated regardless of it being a draft.

[Left Field]

Scare over?

https://www.nzx.com/announcements/396175

Lawyers likely to benefit.

"Having consulted with our US-based advisers and industry experts, Pacific Edge believes the proposed changes are unlikely to survive the ongoing review process in their current form. The consensus view we received was that the proposed changes to the LCD are contrary to US legal requirements and precedent. The proposed changes also fundamentally change the process for determining coverage for specific tests and could deprive US clinicians and Medicare patients access to diagnostic tools with proven, peer-reviewed clinical utility."

"Pacific Edge Chief Executive Dr Peter Meintjes says, "We commend the broader initiative to simplify and streamline the coverage process. However, given the explicit prior coverage and payment history for Cxbladder tests, we have presented our initial concerns to Novitas.

"We will work with CMS and its contractors to make the necessary changes to the drafts to ensure that there is no disruption to the coverage of Cxbladder, as far as we are able. We will also be encouraging the many clinicians and healthcare providers already using our tests to support our position. We will update shareholders as we progress this matter."

[winner (n)]

So all this was known back in June

Strange Jackie Walker - US CEO - decided to retire in June

Wondered at time why when PEB was on the cusp of greatness she'd walk away from something she had worked on for years with seeing it all come to fruition

[Left Field]

Interesting conspiracy theory Winner.... maybe QAnon also involved??

I'm more inclined to the following comment; "the proposed changes to the LCD are contrary to US legal requirements and precedent."

Any SP slump on speculation (such as Winner's theory) will only strengthen PEB's legal case IMO.

[Shareguy]

40 cents now