Paxman is publicly listed on the Nasdaq First North Growth Market in Sweden. Publicly traded companies are required to publish quarterly reports and annual reports to keep investors and analysts informed of financial performance and future prospects.
About the report
The company has just published its Q3 2024 report, which details Paxman’s financial performance for the period between 1st July and 30th September 2024. Plus, any significant events for the quarter, comments from CEO, Richard Paxman OBE, company history, corporate information and financials, in addition to sharing the current status of our R&D and clinical trials progress.
We are delighted to share that this quarter presented our strongest sales to date, with a special focus on the USA where we saw continued growth in our Insurance-Based Billing Model (IBBM) and our first order for Veteran Affairs (VA).
Significant progress in the United States
Among the company’s financial figures for the quarter, the report contained exciting news on our growth within the United States. It was announced in July that Paxman had secured a contract for the provision of scalp cooling systems to the U.S. Department of Veterans Affairs (VA) for the National Precision Oncology Program (NPOP). We are honoured to provide scalp cooling systems to VA healthcare facilities across the U.S., supporting the well-being of one of the most deserving populations on their journey to better health, as they face the physical and emotional challenges of chemotherapy.
In October 2024, we announced that in the Summary of Panel Actions issued on October 18, 2024, the American Medical Association (AMA) issued 3 CPT® Category I codes for mechanical scalp cooling, effective from 1st January, 2026. This is one of the most significant breakthroughs in Paxman’s efforts towards widespread adoption of the IBBM, opening up access to scalp cooling even further in the United States.
The issuance of a CPT® I code also sends a strong message to payers, both commercial and Medicare and Medicaid, that there is now a pathway for consistent and predictable reimbursement and payment for scalp cooling for both providers in the community and academic settings. Full details on this announcement and the current state of reimbursement in the U.S. can be found on pages 10 & 11 of the Q3 report.
Looking Ahead: Future Reports
Paxman regularly publishes its quarterly and annual reports available from Paxman.se, available in both English and Swedish and includes all of our corporate information.
The next quarterly report will be published on 21st February 2025 with the annual report for 2025 can be expected on 25th April 2025.
