Paxman (PAX) CMD 2025 summary

Strategic vision and future priorities

• Focus on expanding from scalp cooling to broader side effect management, especially chemotherapy-induced peripheral neuropathy (CIPN), with a clear vision to increase global patient access and impact.

• U.S. market remains the top priority, with targeted expansion in the U.K., Singapore, Germany, and select other markets based on demand and reimbursement potential.

• Operational excellence, clinical leadership, and R&D investment are emphasized to maintain competitive advantage and drive innovation.

• New facility planned for 2027 to support growth, with a move from a 10,000 sq ft to a 30,000 sq ft purpose-built location.

• Brand repositioning underway to reflect a broader focus on side effect management beyond scalp cooling.

Product development and commercialization

• CIPN device development is on track, with regulatory submissions to FDA and European authorities expected by end of 2025 and anticipated clearances by April 2026.

• U.S. commercialization strategy leverages existing relationships with over 900 cancer centers, focusing on rental and consumable-based revenue models for gloves and boots.

• Pricing for CIPN consumables is expected to exceed that of scalp cooling, reflecting higher value and cost savings for healthcare systems.

• Early clinical data from Singapore and ongoing U.S. trials show strong efficacy and safety, with only 2.5%-3% of patients developing grade 2 neuropathy versus 30%-40% historically.

• High demand and interest from current clinical partners, with many sites eager for early access and participation in trials.

Reimbursement and market access

• Major shift from self-pay to insurance-based billing model (IBBM) in the U.S., supported by new CPT-1 codes effective January 2026, aiming to remove patient cost barriers and drive utilization.

• 75% of patients using the IBBM model currently receive positive coverage, expected to improve further with permanent codes.

• State-level legislation in New York and Louisiana mandates coverage for scalp cooling, with more states expected to follow.

• Commercial payers remain the primary revenue source, with Medicare and Medicaid as secondary targets; patient assistance programs ensure equitable access.

• Integration of Dignitana adds 259 U.S. locations, strengthens market position, and delivers cost synergies through operational consolidation and supply chain optimization.