Pacific Edge Biotechnology makes net loss

Otago's Pacific Edge Biotechnology made a net loss of $ 1.54 million for the six months to September 30, compared with a net $1.32 million loss for the same period last year.

No tax is payable and the loss is in line with directors' expectations. The company said the six months had been a strong one for Pacific Edge, which is in the business of developing cancer diagnostic technology.

The company said there had been significant advances in science and technology, together with a number of business development initiatives with prospective customers.