$1.4m loss for Pacific Edge

David Darling, chief executive of Pacific Edge. Photo / Supplied

Pacific Edge made a net loss of $1.4 million in the six months to September 30, which was little changed from the net loss last year and in line with budget.

The company attributes the loss to investment in clinical trials, product development and intellectual property.

It writes off all research and development expenditure until the point at which products or projects provide reasonable certainty of cost recovery.

The company raised $4.7 million in the half-year period to help fund the roll out of its bladder cancer detection test for urologists and physicians in Australia and New Zealand to bring the colorectal cancer prognostic product to the market.

- NZPA