Rich Lister Masfen's Pacific Edge surges again
Listed biomedical firm Pacific Edge shares (NZX: PEB) have surged four cents today.
The stock, listed on the NZX SciTech index, has more than doubled in price since the start of August, when it was valued at 19 cents.
Today's share price of 41 cents – on trading of more than 700,000 shares worth $277,000 – values the company at $112.5 million.
The company is commissioning a purpose-built laboratory testing centre in Pennsylvania, United States, as it rolls out its cancer detection test, Cxbladder.
In August, the company said it had received independent clinical confirmation the test was at least as effective as other methods.
Last month trading of the Dunedin-based company's shares were halted by NZX Market Supervision after they jumped to a 13-year high of 34 cents.
The halt was lifted the same day after the company said it was not aware of any material information that needed to be disclosed.
Pacific Edge chief executive David Darling told NBR ONLINE at the time: "People suddenly get it and it only takes a few people to start buying a few shares and your share price goes a bit wonky."