Pacific Edge 2019 Annual Meeting of Shareholders
31 July 2019
Page 1 of 11
2019 ANNUAL MEETING
CHAIR AND CEO’S PRESENTATIONS
CHAIRMAN’S PRESENTATION: CHRIS GALLAHER
SLIDE 5: PACIFIC EDGE: CANCER DIAGNOSTICS COMPANY
Our consistency of purpose and strategy has not changed and we continue to make progress in our
commercial journey. We are very conscious that our pace in some areas is not as fast as we, or our
shareholders, would like it to be.
As we have continued to learn, everything outside of our control in our space takes much longer than planned
or hoped for.
Our goal remains to establish Cxbladder as the world’s leading molecular diagnostic technology for the
detection and management of urothelial cancer and to maximise the value of our technology for the benefit
of our shareholders.
Pacific Edge owns world leading technology and intellectual property and we have a significant time based
competitive advantage over the competition.
Urothelial cancer is primarily bladder cancer but also includes cancers of the upper urinary tract. It is the sixth
most common cancer in the USA and the fourth most common in men. It has the highest recurrence rate of
any cancer and the highest costs per patient. Traditional methods of diagnosis and monitoring are invasive,
expensive and their performance falls short of physician’s expectations.
Cxbladder provides a non-invasive, accurate and simple solution and our suite of tests is meeting the needs
of physicians, patients and healthcare payors.
The US market remains our primary focus with a potential market opportunity of more than a billion US
dollars.
In all our markets, we have increased our focus on large healthcare organisations, which can take longer to
bring into contract but offer significantly higher, long term value and reimbursement.
We have a first mover advantage in urothelial cancer with 17 years of R&D behind us, and a growing portfolio
of clinical evidence supporting the performance and clinical utility of our tests. We are now seeing growing
adoption and commercial use of our tests by key opinion leaders and urologists.
SLIDE 6: BOARD REPORT FY19
As a Board, our focus is on overseeing the successful implementation of our strategy .... gaining commercial
adoption of Cxbladder by large healthcare organisations in our targeted markets, and particularly the USA.
31 July 2019
Page 2 of 11
Our commercial approach was validated through an independent review by EY-Parthenon last year, which
confirmed both the scale of the opportunity and our market strategy.
Key milestones are being achieved, both in the US and in our other markets of Southeast Asia, Australia and
NZ.
Of particular note, we now have two of the three national reimbursement milestones required in the USA,
which enables us to progress commercial discussions with healthcare payors and institutional organisations.
Gaining inclusion in the Local Coverage Determination for the Centres for Medicare and Medicaid is the third
reimbursement milestone and it remains a critical focus for our team. This is an unprescribed process, based
on published clinical evidence. Our library of peer reviewed clinical papers continues to grow with several
new, very positive papers in recent months which we expect to be of benefit in the LCD review process.
In New Zealand, we have seen an escalation in uptake by the District Health Boards. Contract coverage is
now over 60% of the population and we expect the other DHBs to follow their lead. Commercial test sales
are increasing and we expect the NZ business to reach a cashflow breakeven position this year, which will be
a major highlight for our company and will further support the validity of our commercial strategy.
Southeast Asia is a longer term opportunity but could one day be bigger even than the States. We are in the
very early stages still, and have started with user programmes in Singapore. We hope to see these to start
transitioning to commercial customers in the near future.
As I noted earlier, the timeline to broad commercial success has taken longer than originally anticipated but
we are confident we are doing the right things and making progress in the areas that we can control.
Our reported loss for the year was $17.9m, a $2m reduction on last year and was in line with our internal
expectations.
Pacific Edge has always been run on a tight budget, with funding support sought from shareholders in smaller
increments and on a more regular basis, rather than large capital raisings.
We have constrained our expenditure on the US sales force last year and this has cost us some growth. This
is always a difficult balancing act between conserving scarce capital resources and continuing to drive growth.
I would like to thank shareholders for their support for last year’s $12m capital raising, which saw a number
of new investors also join our register. There is also growing interest from overseas investors in our company,
which was reflected in last year’s placement from Manchester Management Company in the USA, which
raised $2.6m.
Cash and cashflow management is very front of mind as you would expect from a growth business. The
company had cash of $12.8m as at 31 March 2019, and our cash burn remains in line with our expectations
at about $1.1m per month. We expect the escalation of commercial test sales, particularly in NZ, to have a
positive impact on our operating cashflows.
31 July 2019
Page 3 of 11
Our focus for FY19 remains on completing commercial arrangements with large healthcare institutions in all
our targeted markets. Obtaining the LCD for CMS reimbursement is also a priority. We will be working to
bring on board the remaining DHBs in NZ and to expand our presence in Southeast Asia, and in Australia
where we have now taken over the sales process.
I would like to sincerely thank the Board for their enthusiasm, skills, knowledge and support they have given
me as Chair over the last year. Without singling any of my colleagues out, I will do so! Both John and Sarah
have come onto the Board as part of our Board renewal process and have enthusiastically taken the Chair
roles in our two most important Board Committees. We conducted an external review of your Board’s
effectiveness during the year and our benchmark outcomes were very pleasing. I believe that shareholders
are well served by your Board.
Our company is uniquely placed to capitalise on the demand for better, more accurate, less invasive and
more cost-effective diagnostics. We appreciate and thank shareholders for your patience and support and
are working hard to deliver value for your investment in Pacific Edge.
CEO’S PRESENTATION: DAVID DARLING
SLIDE 8: FY19 HIGHLIGHTS AND MILESTONES
Despite not achieving all of the goals we set for ourselves, FY19 was a year of strong progress with a number
of achievements:
• Commercial sales and billable test volumes grew, with accelerated momentum in Q4, primarily
driven from the growing adoption by NZ’s public healthcare providers.
• We achieved two of the three milestones for US reimbursement.
• Our portfolio of clinical evidence has evolved and grown and we were added to the local
guidelines for some of the large public healthcare providers in New Zealand giving us a strong Q4
revenue for our NZ based business.
• And financially, we reported an improvement in Net Operating Cash Outflow and Net Loss.
• We also completed a successful $12m capital raise, providing us with the resources to continue
on our strategic pathway.
SLIDE 9: FY19 FINANCIAL SNAPSHOT
Under our financial reporting model, we only recognise revenue for US customers when cash payment is
received. Revenue therefore excludes tests done for the CMS, which comprised approximately 50 percent of
our tests in FY19. Once we receive the LCD, we will be able to negotiate with the CMS for reimbursement of
our large back-log of more than 17,000 test invoiced to the CMS to-date.
In FY19, revenue was up 12%, total operating expenses reduced by 7% and a net loss of $17.9m was a 9%
improvement on the prior year.
Our focus on disciplined cash management saw net operating cash outflow reduce from $18.1m to $17.5m
for the year, a 3% decrease on FY18.
31 July 2019
Page 4 of 11
US payment terms currently average between 7 to 12 months from completion of test to payment by relevant
US payer (insurer). However, the introduction of national product specific CPT codes for Cxbladder Detect
and Cxbladder Monitor in the USA, effective from 1 January 2019, has had a positive impact on cash collection
rates in Q419 and this positive trend is expected to continue over FY20.
SLIDE 10: FY19 KEY METRICS – LABORATORY THROUGHPUT
The key metrics we use to measure our progress are commercial sales, laboratory throughput and billable
test volumes. These all increased year on year.
The growing commercial adoption of Cxbladder can be seen in the percentage of billable tests, up to 81% of
total laboratory tests compared to 74% two years ago.
Momentum is growing and we have seen accelerated growth in lab throughput, particularly in the last
quarter of FY19.
Test volumes are well up on the same quarter last year, and the positive trends seen in Q3 to Q4 have
continued into this financial year. This increase in commercial test demand is mainly being driven by the
public health care providers in New Zealand, as more of them adopt Cxbladder at scale.
The US remains our biggest market with 80% of throughput, compared to 20% in ‘Rest of World’ markets
which themselves have grown 83% year on year.
SLIDE 11: COMMERCIAL PROGRESS BY REGION IN FY19
In the last year, we made progress on many fronts that move our business forward. We are now growing our
commercial base in all our target markets and building scale in our business.
SLIDE 12: GROWING COMMERCIAL ADOPTION IN NEW ZEALAND
Our home market of New Zealand is a great example of what our tests can achieve in terms of better patient
care, better outcomes and better use of limited healthcare resources.
The majority of New Zealand’s public healthcare providers are using Cxbladder commercially in their regions
with a combined coverage of more than 3 million people, or over 60% of New Zealand’s population. In some
of these public healthcare providers, Cxbladder has also been added into clinical guidelines, replacing the
gold standard cystoscopy in both the evaluation of haematuria and in the monitoring for recurrence of
urothelial cancer.
Demand and commercial sales in NZ are exceeding our expectations and are expected to continue to grow
as the remaining DHBs come on board and test usage grows.
31 July 2019
Page 5 of 11
While small in terms of test numbers relative to the US, this adoption by the majority of the New Zealand’s
national healthcare providers and the compelling look-back studies they have completed, are significant
steps in terms of global credibility.
The actions being taken here lead the world and their demonstrable benefits have been transformational for
urology healthcare here in New Zealand. This progress is being watched carefully by large healthcare
institutions and leading urologists around the world, and are another step towards gaining wider adoption
for Cxbladder.
SLIDE 13: CONTINUED REIMBURSEMENT PROGRESS IN THE US
The USA remains our primary commercial focus with an estimated addressable annual market opportunity
for Cxbladder of around US$1.2b, this was ratified by EY Parthenon in 2018.
Our tests can be used for the 7 million people who present annually with haematuria, the 3.4 million who
require further workup for bladder cancer annually, and the 800,000 who need monitoring for recurrence of
the disease more than 3 times per year. So you can see that this is a sizeable market where there has been
no new commercial tests launched in 17 years.
There are three key reimbursement milestones required to fully enable reimbursement from both private
and public payers in the US – receipt of CPT Codes; a national price; and inclusion in the Local Coverage
Determination for the CMS. We have achieved two of these milestones and are working hard to achieve the
third.
In March 2018, we received national product specific codes for Cxbladder Detect and Cxbladder Monitor.
This is a big achievement as these Codes are only issued for tests that have entered the mainstream and
where the volume of tests used by physicians has been shown to be indicative of significant adoption. The
panel of experts at the American Medical Association looks at the clinical evidence, the volume of tests used
annually and, on the basis of their review, CPT Codes were issued in 2018 for two of our Cxbladder products.
Currently Cxbladder Detect accounts for the majority of US sales, with Monitor following. A CPT code for
Cxbladder Triage is expected to follow as adoption of Cxbladder Triage grows in the US.
In October 2018, we received notification of a national price for all Cxbladder tests of US$760 per test.
The successful achievement of these two reimbursement milestones has allowed us to initiate negotiations
for contract terms with private payers. On successful completion, these will enable a shortening of the overall
administration of the payer transaction.... that will help the urologist and provide an improvement in the
time to receipt of cash for Pacific Edge.
Progress continues to be made with the process to obtain inclusion in the Local Coverage Determination,
which will enable reimbursement for patients covered under the CMS.
The publication of peer reviewed clinical papers is a critical part of the LCD process and the recent
publications in the prestigious European Urology journal and the real-world evidence on clinical utility
31 July 2019
Page 6 of 11
published in the NZ Medical Journal, will be expected to help drive positive reimbursement decisions with
both private payers and the CMS.
SLIDE 14: FOCUS ON INSTITUTIONAL HEALTHCARE ORGANISATIONS
Across all of our target markets, we continue our focus on large institutional healthcare organisations.
We have seen the impact our technology makes on these large healthcare providers who have burgeoning
patient needs, few resources, aging populations and need to show value changes for their clinical services.
While these institutional customers can take longer to bring to completion, once commercial agreement is
reached, they provide significant volume, require lower sales maintenance and deliver more sustainable,
longer term growth opportunities with shorter cash conversion cycles. This is what we have seen over the
last two years with the Canterbury public healthcare providers.
In line with this, we have transferred our NZ Sales Manager to replicate the successful New Zealand
commercialisation model into Australia.
SLIDE 15: KEY INSTITUTIONAL CUSTOMERS
We have a growing list of large healthcare organisations using our tests.
In South East Asia, we have User Programmes underway with the five largest hospitals in Singapore. These
are nearing completion and our focus will be on transitioning these hospitals to commercial customers and
growing the adoption of Cxbladder by other large healthcare organisations in the region. We have started
our commercial sales with the Raffles Medical Group and are building acceptance and experience with the
use of Cxbladder in the Asian population.
In the US we have re-focussed our US sales team and added more resource for these institutions. We are in
ongoing commercial negotiations and start up processes with multiple targeted institutional customers in
the USA, including John Hopkins Medicine, which commenced a commercial evaluation of Cxbladder during
the year.
SLIDE 16: GROWING CLINICAL EVIDENCE FOR CXBLADDER
We have generated in excess of 10 years of accumulated evidence showing the outperformance of Cxbladder.
This has been a significant and time consuming investment for the company and we are now seeing the fruits
of this investment in the reimbursement milestones in the USA, increasing adoption in all our markets, and
inclusion in NZ and USA guidelines.
SLIDE 17: COMMERCIAL PROGRESS IN LINE WITH PEERS
Published evidence is the key ingredient in driving positive reimbursement decisions and widespread
adoption of Cxbladder with customers globally. With growing adoption will come inclusion into more
international clinical guidelines, underpinning the expected acceleration in revenue for the company, as has
been seen in other companies in the US who have traversed this path.
31 July 2019
Page 7 of 11
Just this month, we were advised that Cxbladder has been included in the latest version of the National
Comprehensive Cancer Network (NCCN) Guidelines for Bladder Cancer in the USA.... as an approved clinical
intervention for high-risk patients being monitored for the recurrence of urothelial cancer.
This is a pivotal commercial outcome for the company with the NCCN Guidelines widely recognised and used
as the standard for clinical policy and practice in oncology by clinicians and payors in the USA. To be
considered for review and inclusion in the NCCN guidelines requires an extensive portfolio of clinical
evidence, a track record of clinical use, and broad adoption by physicians.
SLIDE 18: EUROPEAN UROLOGY PUBLICATION
The clinical evidence behind our Cxbladder tests is extensive and has shown to be commercially actionable.
New publications, commercial look-backs and clinical utility studies consistently and repeatedly define the
outperformance of Cxbladder compared to other tests used every day in the clinic, including the gold
standard cystoscopy. This evidence supports Cxbladder’s additional clinical utility; its patient benefits; and
its ability to reduce healthcare costs. These are the features driving the successes that we have announced
over the last 12 months and foretell the path forward in the other markets.
The most recent clinical publication has been in European Urology, the world’s number one ranked urology
journal with a reading audience in excess of 20,000 medical professionals globally.
This paper further extends Cxbladder’s clinical utility for physicians and patients through its ability to remove
the well-recognised diagnostic dilemma faced by physicians and patients alike - when the existing gold
standard tests and procedures are not able to determine a clear diagnostic outcome.
In simple terms, Cxbladder delivered 100% accuracy in adjudicating all patients with urothelial cancer from
amongst those with atypical and equivocal diagnostic results. This enabled physicians to resolve this
diagnostic dilemma without the inconvenience and added cost of re-evaluating the patient.
Cxbladder also significantly outperformed cytology for accurately identifying patients who do not have
urothelial cancer.
This real world outcome positions Cxbladder for consideration for inclusion in international guidelines which
in turn will fuel broader acceptance and adoption by physicians.
Over the preceding years, many of our customers in the USA have been hampered in their commercial use
of Cxbladder as the Cxbladder technology has not been specifically included in the guideline
recommendations. So, inclusion in the NCCN Bladder Cancer guidelines is a major commercial inflexion point
for us and will be of significant value as we progress our commercial discussions with our many urologist
customers including the large healthcare organisations we are targeting.
31 July 2019
Page 8 of 11
SLIDE 19: CLINICAL LOOK BACK STUDY
Providing evidence of clinical utility is now a requirement for the issue of positive reimbursement and
coverage decisions around the world. Physicians and payers need to be able to clearly identify the change in
clinical behaviour that will come about when the technology has been adopted.
During the year Canterbury DHB published their commercial lookback following adoption and integration of
Cxbladder into their standard of care, showing a significant increase in clinical utility from a reduction by
more than 30% of cystoscopies they would otherwise have used.
SLIDE 20: THE OPPORTUNITY FOR CXBLADDER
I’d now like to take a few minutes to review what we are seeking to achieve with Cxbladder globally and the
scale of the opportunity for our company....
SLIDE 21: DETECTING AND MANAGING UC
So why urothelial cancer? Well it’s a horrible disease. It’s largely a man’s disease with 80% of patients being
men and 20% being women. It’s about blood in your urine and if you have urothelial cancer, it’s about being
monitored for most of your life with expensive and invasive procedures.
Urothelial cancer is a major global health problem and creates a significant healthcare challenge. It is
prevalent, has high recurrence rates and is expensive to diagnose and monitor.
In the US alone, 3.4 million people are evaluated for UC every year, and over 81,000 new cases are diagnosed
annually. Including those being monitored for recurrence of the disease, more than 800,000 patients are
being managed for urothelial cancer at any one time, multiple times per year and all of these patients will
benefit from the use of Cxbladder.
SLIDE 22: CLINICAL PATHWAY FOR UC IN THE USA
Haematuria is blood in the urine and is a key indicator of urothelial cancer. Up to 20% of all urologic visits are
for haematuria, and up to 20% of Medicare patients present with haematuria annually. There are various
causes for blood in the urine and the priority for the physician is to determine if the patient has cancer.
Every year in the USA, approximately 7 million patients with haematuria present to their primary care
physician and are evaluated. 3.4 million of these are referred to a specialist for further work up. Historically,
evaluation and workups involved an arduous regime of invasive and expensive tests, including cystoscopy
which is a tube with a scope inserted into the urethra used to scan the bladder.
EY Parthenon has estimated in 2018 that the annual addressable market for Cxbladder tests is US$ 1.2 billion.
There have been no new diagnostic tests commercially available in urothelial cancer over the last 17 years.
Cxbladder has global first mover advantage and has built all of the necessary evidence to enable a
transformation in the detection and management of urothelial cancer. You have been witnessing it all
happening first, here in NZ.
31 July 2019
Page 9 of 11
So why is Cxbladder so effective? Cxbladder allows for non-invasive testing using urine based, liquid-biopsy
tests.
Patients who do not have cancer can now be removed from having a referral to urologists for a full work-up,
very accurately.
Only those identified as ‘at-risk’ now require a further work up. Further evaluation by a urologist allows for
the identification of high risk patients and allows treatment plans to be tailored to their needs.
The monitoring for recurrence of the disease is now easier and simpler for patients, using Cxbladder’s unique
sample container allowing them to complete the test at home and send it in for analysis, rather than having
to visit their specialist.
Overall, using Cxbladder in the evaluation of haematuria in patients has been shown to repeatedly, reduce
the need for cystoscopy by up to 60%. The test provides better and more detailed information for physicians,
the non-invasive nature increases patient compliance with the monitoring regimen and it is providing
significant cost savings for healthcare payers.
SLIDE 23: PATIENTS DON’T LIKE INVASIVE TESTS
The recent study by the Bladder Cancer Advocacy Network, on the regular use of cystoscopy, showed that
the majority of patients receiving a cystoscopy reported moderate to severe discomfort, anxiety and pain.
Compliance by patients with the physician’s recommendations is a major issue. A large 2011 study showed
that physicians and patients are not following current recommendations, with only 1 out of every 4,545
patients receiving all the recommended measures for surveillance. The authors noted that the invasive
nature and treatment strategies may play a part in non-adherence to clinical practice guidelines.
In a recent clinical paper, the use of Cxbladder on the evaluation of haematuria patients in NZ has been
shown to lead to a 35% reduction in the use of cystoscopy and, for patients who are being regularly
monitored for recurrence of the disease, more than 70% do not receive a cystoscopy, whilst providing highly
accurate results for physicians.
SLIDE 24: CXBLADDER: MEETING AN UNMET CLINICAL NEED
Cxbladder’s multiple products have been developed to meet the specific defined needs of urologist
physicians and they represent a transformational shift in the way that bladder cancer is detected and
managed. It’s been tremendously exciting to see our products now being recognised in guidelines......now to
turn this into cash revenue.
SLIDE 25: FY20 OUTLOOK
This has been a journey of building foundations in a healthcare environment where the burden of proof is
very high. Today we see that most of the foundations for commercial success have now been completed with
31 July 2019
Page 10 of 11
increasing recognition in local and national guidelines. The adoption of Cxbladder and commercial sales are
increasing and we remain focused on completing the Local Coverage Determination as the key to our national
reimbursement and a scale ramp in our revenue. Guidelines inclusion and the LCD will accelerate the
adoption of Cxbladder as has been seen in other comparator molecular diagnostic companies.
SLIDE 26: KEY OBJECTIVES FOR FY20
We have a number of key objectives over the near term which will help us achieve our goals of growing our
global reach, building and strengthening our customer base and increasing sales and adoption - all of which
will drive greater cash revenue.
We have identified the key opportunities for growth in all our targeted markets and will continue to direct
our time and resources to achieve these.
SLIDE 27: PRIMARY FOCUS REMAINS THE USA
The USA remains our primary commercial focus with an estimated annual market opportunity for our
Cxbladder products of approximately US$1.2b. Our test can be used for the 7 million people who present
with haematuria, the 3.4 million who require further workup for bladder cancer, and the 800,000 who need
monitoring, multiple times per year, for recurrence of the disease.
SLIDE 28: POSITIVE GROWTH OUTLOOK
Pacific Edge has been constantly treading new ground. Our tests are disruptive to conventional clinical
pathways and as we have learnt, the adoption process in the US can be time consuming and requires
substantial resource.
We are seeing accelerating momentum in commercial sales from new and existing customers and we expect
this to continue.
Demand from public healthcare providers in New Zealand is expected to grow strongly and positively impact
on laboratory throughput volumes and cash revenue.
Cash investment in our company is always one of our key focal points while we are still losing more cash than
we make. We have held the US sales force at a lower level than planned to conserve our cash while we
complete the CMS and LCD. FY20 total operating expenses are expected to remain in line with FY19.
Cxbladder test demand by US physicians is expected to be positively impacted in FY20 from having national
product specific CPT codes for Cxbladder and a national CMS reimbursement price in place.
Our compelling dossier of clinical evidence, which is being published in top tier international journals, is
expected to facilitate positive reimbursement decisions by both private and public payers over the near term.
The benefits and value our Cxbladder tests offer and the opportunities for our company are huge.
31 July 2019
Page 11 of 11
We are making positive commercial progress and we thank you for your continued support as we work hard
to attain our goals to make a step change in our revenue growth and realise our full potential.
ENDS
---
PACIFIC EDGE
2019 ANNUAL
MEETING
BOARD OF DIRECTORS
Chris GallaherIndependent Director, Chairman
David DarlingExecutive Director and Chief Executive Officer
John DuncanIndependent Director
David LevisonIndependent Director (US-based)
Anatole MasfenIndependent Director
Sarah ParkIndependent
Bryan WilliamsIndependent Director
2019 Annual Meeting2
GOVERNANCE
Board of Directors
Experience in governance, finance, sales
management cancer research,
biotechnology and life sciences,
investment and business advisory.
Subsidiary Board Directors
In-country commercial experience and
scientific and/or clinical expertise.
Scientific and Clinical Advisory Boards
Expert advice on global clinical needs
and product applications; and scientific
progress and clinical opportunities.
MEETING AGENDA
•Presentations:
•Address from the Chair, Chris Gallaher
•Address from the Chief Executive Officer, David Darling
•Shareholder Discussion
•Resolutions as per Notice of Meeting:
•Re-election of Chris Gallaher and David Levison
•Election of Sarah Park and John Duncan
•Authorise the Directors to fix the auditor’s remuneration
•Adoption of new Constitution
•General Business
•Close of Annual Meeting
2019 Annual Meeting3
CHAIRMAN
Chris Gallaher
FIRST MOVER ADVANTAGE IN A GLOBAL OPPORTUNITY IN
HAEMATURIA AND BLADDER CANCER
The USA and NZ markets dominate our commercial focus
“Pacific Edge’s annual
addressable market in
the USA alone has
been calculated to be
worth up to US$1.2
billion per annum.”
EY-Parthenon review 2018*
2019 Annual Meeting5
Approx. 7 million
people present with
haematuria annually
in the USA
79,000+ new bladder
cancer cases in USA
every year
9
th
most common
cancer in the world;
4
th
most common in
men
70% recurrence rate
leads to many clinical
procedures
Highest medical cost
of any cancer; up to
US$240k per patient
lifetime
Suite of four
Cxbladder tests
17 years of R&D and
validation
Primary focus is the
USA; the world’s
largest healthcare
market
Commercial
partnerships in USA,
NZ, Australia and
Singapore
*EY Parthenon, a leading international consulting firm, has endorsed Pacific Edge’s USA market strategy and confirmed the addressable market for Cxbladderin the USA
to be more than US$1.2 billion per annum
BOARD REPORT FOR FY19
•Board oversight of strategy implementation following detailed strategic review in February 2018.
•Now starting to realise the revenue potential of our company –in early stages in the USA.
•Key milestones being achieved, although taking longer than anticipated to gain widespread
commercial adoption.
•Progress continues to be made with a number of important achievements in FY19.
•Strategic focus going forward:
•Achieve the third major milestone for national reimbursement (CMS)
•Targeting of large institutional healthcare providers in all markets
•Continue to build portfolio of clinical evidence to support reimbursement and adoption decisions.
•Board continues to carefully manage cash resources; achieving a cashflow breakeven position
remains front of mind.
•Refreshed the Board with appointment of two new directors with relevant expertise and skills.
2019 Annual Meeting6
CHIEF EXECUTIVE OFFICER
David Darling
FY19 HIGHLIGHTS AND MILESTONES
•Growth in commercial sales and billable test volumes:
-Strong growth in NZ and US commercial sales, particularly in Q4 FY19.
•Two of three US reimbursement milestones successfully attained:
-National price for all Cxbladdertests (US$760 per test)
-National product specific CPT codes for Cxbladder Detect and Cxbladder Monitor.
•High levels of adoption in NZ and addition to public healthcare provider guidelines.
•Increased focus on institutional healthcare organisationsin all markets following the success of the NZ
model
•Growing presence in Southeast Asia, commercial sales with Raffles Medical Group
•New sales focus in Australia driven by Pacific Edge.
•Increasing global pool of clinical evidence for Cxbladder facilitating test adoption and reimbursement.
•Increasing investor knowledge base and support.
2019 Annual Meeting8
FY19 FINANCIAL RESULT SNAPSHOT
2019 Annual Meeting9
üOperating revenue from test sales up 12% y/y
to $3.8m, with total revenue for the period of
$5.1m
üTotal operating expensesreduced to $23.0m
for the year, a 7% decrease on FY18
üNet loss of $17.9m for the year, an
improvement of 9% on FY18
üNet operating cash outflow reduced to
$17.5m, in line with expectations
ü$12.8m in cash, cash equivalents and short
term deposits as at 31 March 2019
1: Revenue excludes tests sold in the US for which cash payment has yet to be received, as well as tests completed for patients covered by the CMS. CMS tests account for
approximately 47% of annual US laboratory throughput and Pacific Edge will seek reimbursement for these when it is included in the CMS’ Local Coverage Determination
(LCD). As at 31 March 2019, Pacific Edge has completed and invoiced a total of 17,015 tests for CMS patients in the USA, forwhich the company is yet to be reimbursed.
(NZ$’000)FY19FY18
%
Change
Operating Revenue
1
(test sales)3,817
3,400
12%
Other Revenue 1,312
1,602
(18%)
Total Revenue5,129
5,002
3%
Operating Expenses23,038
24,646
(7%)
Total Comprehensive Loss17,921
19,727
(9%)
Net Operating Cash Outflow17,507
18,100
(3%)
Cash on hand as at 31 March 2019
(cash, cash equivalents and short term deposits)
12,847
16,242
(21%)
FY19 KEY METRICS –LABORATORY THROUGHPUT
USA
80%
ROW
20%
2019 Annual Meeting10
0
2
4
6
8
10
12
14
16
FY14FY15FY16FY17FY18FY19
(000s)
LABORATORY THROUGHPUT
(Commercial tests and User Programmes)
81%of FY19 tests were billable
CMS related tests cumulatively totalled in excess of 17,000 testsas at 31 March 2019.
Will negotiate for payment of these once Cxbladder is included in LCD.
Detect
57%
Monitor
23%
Triage
20%
Total Laboratory Throughput
(by region)
Total Laboratory Throughput
(by test type)
Test usage determined by length of time in market for each product.
Regional Throughput by Test USANZ
Cxbladder Detect66%20%
Cxbladder Monitor26%12%
Cxbladder Triage
8%68%
COMMERCIAL PROGRESS BY REGION IN FY19
2019 Annual Meeting11
GROWING COMMERCIAL ADOPTION IN
HOME MARKET (NEW ZEALAND)
•New Zealand’s public healthcare providers are leading the global
adoption of Cxbladder.
•Majority have now adopted Cxbladder into their standard of care
and, in some cases, their clinical guidelines, replacing the gold
standard cystoscopy
•Demand from NZ public healthcare providers exceeded expectations
with strong growth from new and existing customers, particularly in
Q419.
•Counties Manukau, Tairāwhiti, Capital & Coast and Hawkes Bay
District Health Boards all signed commercial agreements in FY19
bringing total contract coverage of New Zealand’s population to
more than 60%.
•Canterbury DHB’s comprehensive commercial look-back over
Cxbladderuse on 570 patients published providing compelling
support to change guidelines
•Demand from New Zealand’s public healthcare providers is
continuing its growth in FY20.
2019 Annual Meeting12
CONTINUED REIMBURSEMENT PROGRESS IN THE US
•Receipt of Product Specific CPT codes for Cxbladder Detect and
Cxbladder Monitor (January 2019)
•Notification of a National Price for all Cxbladder tests of $760
per test in (October 2018)
•Progress being made with the third and final milestone, to have
Cxbladder included in a Local Coverage Determination (LCD),
which will allow for reimbursement by CMS
2019 Annual Meeting13
TwoofthreemilestonesrequiredfornationalpublicreimbursementintheUSwerecompletedinFY19:
Allows Pacific Edge to
move into contract
negotiations with
private payers
FOCUS ON INSTITUTIONAL
HEALTHCARE ORGANISATIONS IN
ALL MARKETS
•Building on success achieved with large public
healthcare providers in New Zealand.
•Ongoing commercial negotiations and start up
processes with multiple targeted institutional
customers in the USA.
•FY19 commenced commercial evaluation with
John Hopkins Medicine, a US$8 billion
integrated global health enterprise and one of
the leading health care systems in the USA.
2019 Annual Meeting14
While these customers can take longer to bring to completion,
once commercial agreement is reached they can provide
significant volume, require lower sales maintenance and
deliver more sustainable, longer term growth opportunities.
INSTITUTIONS IN SOUTHEAST ASIA AND THE USA USING OR
EVALUATING CXBLADDER
•Carolina Urologic Research
Center
•City of Hope
•Cleveland Clinic
•Cornell
•Fox Chase CC
•Johns Hopkins CC
•MD Anderson
•Moffitt CC
•Ohio State University CC
•Penn State Milton S. Hershey
Medical Center
•Rush University
•Thomas Jefferson University
•TriStar Medical Center
•UCLA
•University of California-San Diego
•University of California-San Francisco
•University of Chicago
•University of Colorado
•University of Michigan
•University of Minnesota
•University of Oklahoma
•University of Pennsylvania
•University of Southern California
•UT Southwestern
•VA Accounts
•Wellstar
•Singapore General Hospital
•Tan Tock Seng
•Khoo Tech PuatHospital
•KK Womensand ChildrensHospital
•National University Hospital
SingaporeUSAUSA
GROWING CLINICAL
EVIDENCE FOR
CXBLADDER
•Publication of peer-reviewed papers is key to
gaining coverage and positive reimbursement
decisions.
•Library of comprehensive clinical evidence for
physicians, healthcare payers (reimbursement)
and healthcare providers alike.
•Application to have Cxbladder included in an
LCD has been supported by the recent
publication of further compelling clinical
evidence expanding the clinical utility of
Cxbladder.
•Cxbladder already in guidelines for some NZ
public healthcare providers.
•On 10 July 2019, Cxbladder Monitor was added
to the National Comprehensive Cancer
Network guidelines in the USA.
2019 Annual Meeting16
“This is first time urinary urothelial biomarkers have been included in the
guidelines...” Dr Sia DaneshmandNew York presentation 18 July 2018
COMMERCIAL PROGRESS IN LINE WITH PEERS
Cxbladder’scommercial progress is currently in
line with peers in the diagnostics world; gaining
coverage and reimbursement decisions will be key
to driving volume.
Cxbladder is tracking in line with Genomic Health
and MDxHealth:
•Sales of Cxbladderare currently in line with
those of Genomic Health’s Oncotype Dxand
MDxHealth’s ConfirmMDxat the time of their
launch
•Continuing to gain coverage and positive
reimbursement decisions will be crucial to help
accelerate test volume
•Guideline inclusion has also served as a key
catalyst for sales volume and physician adoption
Source: EY Parthenon review of Cxbladderstrategy in the USA 2018
( Updated by PE)
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
50,000
012345
Number of Tests Sold
Years After Launch
Test Volume of Various Diagnostics Post Launch
Cxbladder
Genomic Health
SelectMDx
Confir mMDx
FoundationOneHeme
FoundationACT
Inclusion in
ASCO and
NCNN
guidelines for
Genomic
Health
Cxbladder
DIAGNOSTIC OUTPERFORMANCE PUBLISHED
IN WORLD #1 CLINICAL JOURNAL
Conclusion:
•Cxbladder providing enhanced diagnostic outcomes not currently available from existing technology.
•Enables physicians to remove the diagnostic dilemma faced, when existing gold standard tests and
procedures are not able to determine a clear diagnostic outcome.
•This real world outcome positions Cxbladder for consideration for inclusion in other international
guidelines
18
*European Urology -has an Impact Factor Rating of 17.58 and is currently read by more than 20,000 urologists across the globe.
DEMONSTRATES SIGNIFICANT CLINICAL UTILITY OF CXBLADDER
•Diagnostic outperformance published in global number one* ranked urology journal, European Urology,
in May 2019.
Results:
•Use of Cxbladder resulted in 35% of patients avoiding cystoscopies.
•Cxbladder correctly adjudicated all atypical cytologiesand equivocal cystoscopies
SUPPORTS THE INCLUSION OF CXBLADDER IN A CLINICAL PATHWAY FOR THE INVESTIGATION OF HAEMATURIA
Published by the Canterbury District Health Board (CDHB) in the New Zealand Medical Journal (June 2019) on 571
haematuria patients.
Results:
•Cxbladder Triage had a sensitivity of 95.5% and a negative predictive value (NPV) of 98.6%.
•When combined in the new guidelines, imaging and CxbThad a sensitivity of 97.7% and NPV of 99.8%.
•All bladder cancers of significance were diagnosed by the combined use of imaging and CxbTbefore cystoscopy
was undertaken.
2019 Annual Meeting19
55
NZMJ 21 June 2019, Vol 132 No 1497
ISSN 1175-8716 © NZMA
www.nzma.org.nz/journal
Inclusion of a molecular
marker of bladder cancer
in a clinical pathway for
investigation of haematuria
may reduce the need for
cystoscopy
Peter J Davidson, Graham McGeoch, Brett Shand
T
he causes of asymptomatic haematuria
are numerous. As such the investigat-
ing algorithm for haematuria is com-
posed of a number of tests. Approximately
600 patients are accepted each year to the
Canterbury District Health Board (DHB)
Urology Department for evaluation of hae-
maturia. All referrals are accepted if they
have laboratory confi rmation of haematuria
and the investigations completed.
One of the most common important causes
of haematuria is bladder cancer. While a
number of these are detected on imaging,
the ‘gold standard’ for diagnosing bladder
cancer is cystoscopy.
1
While generally
well-tolerated by patients, fl exible cystoscopy
is uncomfortable and may have adverse
post-procedural consequences.
2,3
Anecdotally,
it is the test in the haematuria algorithm
least cherished by patients and also necessi-
tates patients seeing a specialist urologist. If
it were safe not to undertake cystoscopy in
a group of patients presenting with haema-
turia, then their work-up could potentially be
completed by clinicians other than a urol-
ogist, such as a general practitioner (GP).
The need to improve risk stratifi cation of
patients who may require cystoscopy and
imaging was emphasised in a recent review
of guidelines for assessing microhaema-
turia.
4
Numerous biomarkers have been
identifi ed in urine or blood samples that
ABSTRACT
AIM: To examine prospectively the impact of adding a urinary biomarker of bladder cancer (Cxbladder
Triage
TM
, CxbT) to a clinical pathway for investigating haematuria.
METHODS: The clinical outcome of 571 patients with haematuria who presented to their general practitioner
was reviewed. Outcome measurements included the findings of laboratory tests, imaging, cystoscopies,
histology and specialist assessments. The data were used to model a theoretical clinical pathway that
involved initial screening using CxbT
in combination with imaging, and only test positive patients being
referred for specialist assessment and cystoscopy.
RESULTS: All patients underwent cystoscopy and 44 transitional cell carcinomas were diagnosed in the
study cohort, with two low-risk cancers missed by CxbT, one of which was also not detected by imaging.
When combined, imaging and CxbT had a sensitivity of 97.7% and negative predictive value of 99.8%.
CONCLUSIONS: In our series, all significant bladder cancers were diagnosed by imaging and CxbT before
cystoscopy was undertaken. The high negative predictive value of this clinical pathway would allow
approximately one-third of patients with haematuria to be managed without cystoscopy.
ARTICLE
COMPELLING RESULTS FROM CLINICAL LOOK-BACK STUDY
Conclusions:
•The high NPV of this new clinical pathway enabled approximately one-third of patients with haematuria to be managed without cystoscopy and
other related procedures.
•Importantly, the patient with haematuria would also safely avoid the social disruption and discomfort of a secondary care visit for cystoscopy.
•The new pathway should be applicable in any health system with effective general practice or primary care and the ability to inform GPs of locally
recommended assessment and management of haematuria.
•This real world outcome positions Cxbladder for consideration for inclusion in other international guidelines.
THE OPPORTUNITY FOR
CXBLADDER
DETECTING AND MANAGING UROTHELIAL CANCER (UC)
CREATES A SIGNIFICANT HEALTHCARE CHALLENGE GLOBALLY
UC is a major global health problem:
•500,000 new cases annually
•200,000 deaths annually
•9
th
most prevalent cancer but 4
th
in men
•Highest recurrence rates of any cancer
In the USA:
•10.5 million patients present with hematuria annually and 3.4 million are
worked up to look for urothelial cancer
•81,000 new cases of UC diagnosed each year
•70% recurrence of the disease following treatment
•More than 800,000 people living with bladder cancer will present annually up
to 3 to 4 times a year for evaluation for the recurrence of UC
•Average lifetime costs of over US$240,000 per patient.
•Direct costs for bladder cancer predicted to reach $4.9 billion in 2020
NIH National Cancer Institute, 2016. Bladder Cancer Advocacy Network, 2017.
2019 Annual Meeting21
5%
are upper tract (not
including kidney)
95%
are bladder cancer
Ureter
Bladder
Kidney
Urothelial
cancer
CLINICAL PATHWAY FOR UC/BLADDER CANCER IN USA
FULL EVALUATION TESTING
DIAGNOSED WITH BLADDER CANCER
MONITORING
REFERRAL TO A SPECIALIST
Historically, diagnosis and
monitoring of bladder cancer
has involved an arduous
regime of invasive and
expensive tests over the
lifetime of the patient.
In the USA alone, up more than
5 million cystoscopies were
performed in 2018
A cystoscopy is a painful,
invasive and expensive
procedure that requires a tube
with a scope to be inserted in
to the urethra.
CANCER MANAGEMENT
EVALUATION BY PRIMARY
PHYSICIAN
STANDARD OF CARE
Due to high recurrence of bladder cancer,
patients undergo regular testing
Year One: up to six times
Year Two to Five: up to four times/year
HISTORICAL TESTING
Cxbladder Triage
Primary evaluation of haematuria
MORE THAN 60% REDUCTION
IN NEED FOR CYSTOSCOPY
Cxbladder Detect
For use by urologists to rule out UC
Cxbladder Resolve
Segregation of low grade tumours
from high grade and late stage
tumours
Cxbladder Monitor
Monitoring for recurrence of the
disease
CXBLADDER
PATIENTS DON’T LIKE INVASIVE TESTS
PATIENT COMMENTS
•“I recommend being put to sleep. Dealing with these while awake
was horrible.”
•“Asked doc for valium to relax, as anxiety is rampant and pain is
terrible.”
•“Av o i d o f f i c e c y s t o s c o p y a n d i n s i s t o n p r o c e d u r e b e i n g d o n e i n t h e
operating room under general anesthesia.”
•“Cystoscopy has to be done under general anesthesia because it is
so painful. Urination is extremely painful for two to three days
afterwards.”
•“How clean is the tool? I get a lot of infections post cystoscopy and
TURBT.”
•“Usually ends with an infection.”
•“Barbaric. Needs to be a better and more comfortable process.”
•“There has to be a better, non-invasive procedure.
My urothelial passage has been destroyed, now have a suprapubic
catheter.”
Source: Daneshmand: Bladder Cancer Advocacy Network patient survey, 2018, UROLOGY TIMES, In press.
CYSTOSCOPY PATIENTS REPORTED MODERATE TO SEVERE:
65%
DISCOMFORT
PAIN
ANXIETY
56%
38%
PATIENT FEEDBACK REGARDING CYSTOSCOPY: BCAN SURVEY IN OVER 900 US PATIENTS WITH UC
2019 Annual Meeting23
CXBLADDER: FILLING AN UNMET CLINICAL NEED
PROBLEM:
•Existing detection and management of UC
involves expensive and invasive tests.
•Performance of the existing tests and
procedures fall short of physicians’
expectations.
•Lack of confidence in most widely used
urine-based tests (eg, cytology, FISH).
•Some patients are unable to undergo
standard work-up procedures.
•Less than 40% compliance in surveillance
patients.
CXBLADDER:
•Accurate Objective Detection
•Reduces Invasiveness
•Confirms absence of UC with high NPV
•Effectively triages patients
•Replaces need for further adjunct urine-based tests in
primary workup
•Clarifies atypical or equivocal results from other tests
•Changes Clinical Practice
•Promotes Efficient Health Care Delivery
The suite of non-invasive Cxbladder tests represents a paradigm shift in performance offering physicians,
patients and payers significant increases in utility and outcomes
2019 Annual Meeting24
FY20 OUTLOOK
KEY OBJECTIVES GOWING FORWARD
SUCCESS WITH THESE OBJECTIVES WILL ADD SIGNIFICANT GROWTH TO OUR BUSINESS:
•GLOBAL REACH: Grow the number of large institutional healthcare customers globally and build on initial
sales to these organisations.
•USA: Successfully achieve the third and final USA reimbursement milestone to gain inclusion in the LCD,
upsell additional Cxbladder tests to contracted customers, and build on initial sales to the VA and other
organisations.
•NEW ZEALAND: Further accelerate the roll out of Cxbladder in New Zealand to obtain widespread contract
coverage with public health care providers (DHBs), upsell additional Cxbladder tests to each of the
contracted DHBs.
•AUSTRALIA: Replicate the successful NZ sales and marketing model in Australia to drive sales.
•SE ASIA: transition User Programmes in Singapore into commercial customers, and progress discussions with
potential strategic partners in South East Asia.
•TEST ADOPTION: Increase the commercial adoption of Cxbladder in the USA, Australia and South East Asia
markets by leveraging the clinical validation and commercial success of Cxbladder in New Zealand.
•CLINICAL EVIDENCE: Continue to build out the evidence portfolio to drive further positive reimbursement
decisions and addition to international guidelines.
2019 Annual Meeting26
5 January 2019
OUR PRIMARY FOCUS REMAINS THE USA MARKET
A SCALE OPPORTUNITY IN BOTH THE EVALUATION OF HAEMATURIA AND MONITORING FOR
RECURRENCE
2019 Annual Meeting27
*EY-Parthenon business review of the US market opportunity
UROTHELIAL AND BLADDER CANCER IN THE US
POSITIVE GROWTH OUTLOOK FOR PACIFIC EDGE
FY20 expectations are for:
•Continued growth in commercial sales from new and existing customers.
•Demand from public healthcare providers in New Zealand to grow strongly and positively impact on
laboratory throughput volumes.
•New Zealand business to be cashflow positive in FY20.
•Total operating expenses to remain in line with FY19.
•USA demand to be positively impacted from having national product specific CPT codes for Cxbladder and
a national CMS reimbursement price in place.
•Compelling clinical evidence published in top tier international journals to facilitate test adoption, coverage
and reimbursement in FY20.
2019 Annual Meeting28
Cxbladder is now covered in NCCN guidelines as an approved clinical intervention for high risk patients being
monitored for recurrence with an expected pivotal impact on US commercial sales.
SHAREHOLDER DISCUSSION
2019 Annual Meeting29
BUSINESS OF THE MEETING
2019 Annual Meeting30
RESOLUTIONS
Resolution 1: That Chris Gallaher, who retires by rotation and is eligible for re-election, be re-
elected as a Director of the Company.
Resolution 2: That David Levison, who retires by rotation and is eligible for re-election, be re-
elected as a Director of the Company.
Resolution 3: That Sarah Park, who was appointed as a Director by the Board during the year, be
elected as a Director of the Company.
Resolution 4: That John Duncan, who was appointed as a Director by the Board during the year, be
elected as a Director of the Company.
Resolution 5: To record the re-appointment of PricewaterhouseCoopers as auditor of the Company
and to authorise the Directors to fix the auditors’ remuneration for the ensuing year.
Resolution 6: That the Company revoke its existing Constitution and adopt a new Constitution in
the form and manner described in the Explanatory Notes, with effect from the close of the Annual
Meeting.
2019 Annual Meeting
Slide 31
PROXIES AND VOTING
We have received the following valid votes and proxies:
PROXIES AND POSTAL VOTES
FORAGAINSTDISCRETIONARYVALID
VOTES/PROXIES
RECEIVED
% OF TOTAL
ISSUED CAPITAL
1Re-election of Chris Gallaher192,616,6832,365,0983,129,581198,111,36238.78%
2Re-election of David Levison192,758,1262,223,6553,129,581198,111,36238.78%
3Election of Sarah Park192,843,5622,135,2373,084,397198,063,19638.77%
4Election of John Duncan192,671,2822,307,5173,084,397198,063,19638.77%
5Authorisationto fix the auditors’
remuneration
194,677,638349,3273,084,397198,111,36238.78%
6Adopt a new Constitution194,401,31223,0603,129,581197,553,95338.67%
Voting instructions for those voting online are available at: http://www.linkissuers.co.nz/VirtualAnnualMeeting/OnlinePortalGuide.pdf
2019 Annual Meeting32
OTHER BUSINESS
2019 Annual Meeting33
www.pacificedge.co.nz
www.cxbladder.com
www.pacificedgedx.com
David Darling
Chief Executive Officer
Pacific Edge Limited
Tel: +64 3 479 5802 Mobile: +64 21 797981
Email: david.darling@pelnz.com
CLOSE OF THE MEETING
Presentations are available at www.pacificedgedx.com
DISCLAIMER
2019 Annual Meeting35
Information
The information in this presentation is an overview and does not contain all information necessary to make an investment decision. It is intended to constitute a
summary of certain information relating to the performance of Pacific Edge Limited . The information in this presentation is of a general nature and does not purport
to be complete. This presentation should be read in conjunction with Pacific Edge's other periodic and continuous disclosure announcements, which are available at
nzx.com.
Not financial product advice
This presentation is for information purposes only and is not financial or investment advice or a recommendation to acquire Pacific Edge securities, and has been
prepared without taking into account the objectives, financial situation or needs of individuals. Pacific Edge, its directorsand employees do not give or make any
recommendation or opinion in relation to acquiring or disposing of shares. In making an investment decision, investors must relyon their own examination of Pacific
Edge, including the merits and risks involved. Investors should consult with their own legal, tax, business and/or financial advisors in connection with any acquisition of
securities.
Future performance
This presentation contains certain 'forward-looking statements', for example statements concerning the development and commercialisation of new products,
regulatory approvals, customer adoption and results of future clinical studies. Forward-looking statements can generally be identified by the use of forward-looking
words such as, 'expect', 'anticipate', 'likely', 'intend', 'could', 'may', 'predict', 'plan', 'propose', 'will', 'believe', 'forecast', 'estimate', 'target', 'outlook', 'guidance' and
other similar expressions. The forward-looking statements contained in this presentation are not guarantees or predictions of future performance and involve known
and unknown risks and uncertainties and other factors, many of which are beyond the control of Pacific Edge and may involve significant elements of subjective
judgement and assumptions as to future events which may or may not be correct. There can be no assurance that actual outcomes will not materially differ from
these forward-looking statements. A number of important factors could cause actual results or performance to differ materially from the forward-looking statements.
The forward-looking statements are based on information available to Pacific Edge as at the date of this presentation. Except as required by law or regulation
(including the NZX Main Board Listing Rules), Pacific Edge undertakes no obligation to provide any additional or updated information whether as a result of new
information, future events or results or otherwise.
No representation
To the maximum extent permitted by law, Pacific Edge and its advisers, affiliates, related bodies corporate, directors, officers, partners, employees and agents make no
representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of information in thispresentation.
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.