In its quarterly investor update, the Dunedin-based listed company said test numbers increased to 8878, a 14% increase on the 7768 tests in the previous quarter, and a 42% on the 6242 processed in the same quarter of the previous year.
The result brought total volumes for FY23 to 31,566, a 37% increase on the 23,086 tests in the FY22.
US volumes increased to 7817 in Q4 23, an 18% increase on the 6629 tests in Q3 23, while Asia Pacific volumes were 1061, down 7% on the 1139 tests processed in Q3 23 but up 11% on the 952 tests processed in Q4 22.
Total Apac volumes for FY23 were 4348, a 3% increase on the 4222 tests process in FY22.
The volume trends in Apac reflected the maturity of the New Zealand market and the region’s ongoing healthcare reforms, the company said.
In the update, chief executive Dr Peter Meintjes said the close of the March 2023 quarter represented the completion of his first full financial year at the helm of the company.
He took over from long-serving predecessor David Darling.
While the company was still seeking clarity over continued Medicare coverage of its tests in the US, he was pleased to share his ‘‘sense of pride’’ with what it had achieved.
Last year it was reported its Cxbladder tests could be dropped by Novitas, the Medicare administrative contractor with jurisdiction for Pacific Edge’s US laboratory.
If the proposal was approved unchanged, Cxbladder would not qualify for coverage from Novitas.
Those tests represented a significant portion of current Cxbladder testing revenue.
The integration of Cxbladder into the electronic medical-records system of Pacific Edge’s largest customer Kaiser Permanente had progressed, but not as fast as the company had expected, Dr Meintjes said.
The development teams on both sides had now completed the software development and integration testing but, due to the substantial nature of the integration into a live system at Kaiser, additional administrative and review processes remained to be completed.
Late in the quarter, Pacific Edge signed a distribution agreement for Cxbladder in Israel with the Tel Aviv-based company ProGenetics as it considered global markets with an appetite for genomic oncology tests that could be sent to its US lab.
