Sample Stories for Troubled Company Reporter - Asia Pacific

PACIFIC EDGE TECHNOLOGIES: Incurs NZ$1.88 Net Loss in FY2007

Troubled Company Reporter, June 14, 2007

The company has recorded a net loss of NZ$1,880,836 for the year ended
March 31, 2007, compared to a loss of NZ$2,516,838 for the year ended
March 31, 2006.  Between September 2006 and March 2007, the company raised NZ$1,176,128 via a Share Purchase Plan and Issues Within the 15% Limit.  The Share Purchase Plan and the Limited Issue offered ordinary shares at 13.7 cents per share.  There is no tax or dividend to be paid.

As a matter of policy, the company continues to write off all research and development expenditure until the point at which the products or project provides reasonable certainty of cost recovery.  The company, over this period, has made further significant investment in both intellectual property protection and product development.

Preparation for the clinical trial for the bladder cancer diagnostic is
almost complete, with clinics in Auckland, Tauranga and Christchurch
scheduled to begin patient recruitment this quarter.  This first trial will be fully FDA compliant, enhancing the commercialisation options open to Pacific Edge on trial completion.

The validation study on the company's prognostic gene signature that is
being carried out in Europe by Signature Diagnostics is scheduled to begin shortly.

The year has seen the completion of the discovery phase of the company's
melanoma profiling project.  This project, carried out in partnership with the Ludwig Institute in Melbourne, has aimed to develop a gene expression signature that predicts the likely clinical behaviour of stage III melanoma.  This cancer is notoriously unpredictable, with patients usually relapsing anywhere in a range from weeks to many years.  Our prototype test is showing 90% accuracy in predicting rapid or slow progression.  Following further validation on additional independent samples, PEB intends to commercialise the gene expression signature as a tool that will allow clinicians to make markedly more informed judgments on the best treatment plans for patients with this serious cancer.

Our gastric and endometrial cancer early detection projects are
progressing favourably.

A prototype test for gastric cancer detection is due in the 3rd quarter
this year.

                       About Pacific Edge

Dunedin, New Zealand-based Pacific Edge Biotechnology Limited -- -- is a biomedical company specializing in the discovery and commercialization of diagnostic and prognostic products for human cancer.  The company is focused on developing genomic and proteomic tools for the earlier detection, improved characterization and better management of gastric, bladder, colorectal, endometrial cancers and melanoma. PEBL's early detection program for gastric cancer uses different detection technology to the bladder and endometrial programs.  This program is developing protein/antibody assays that can be used to detect the targeted biomarkers in blood samples.  The company has a 25% investment in Prognostic Systems Limited, which has been formed to investigate the possible usage of PEBL's core software in predictive cardiovascular disease onset.

The company has booked at least two consecutive annual net losses --
NZ$1,880,836 for the year ended March 31, 2007, and NZ$2,516,838 for the
year ended March 31, 2006.

About the InterNet Bankruptcy 
LibraryLearn more about TCR - AP
About the InterNet Bankruptcy 
LibrarySubscribe to the Troubled Company Reporter -- Asia Pacific