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StageZero Life Sciences reported a successful annual meeting on June 30, 2021, with notable shareholder participation of over 20%. All nominee directors, including James Howard-Tripp (56%), Rory Riggs (76%), Harry Glorikian (70%), and Garth MacRae (70%), were elected. Additionally, McGovern Hurley LLP was appointed as auditors with 86% approval. The consolidation resolution was withdrawn after consulting shareholders. This marks a significant engagement from shareholders, reflecting confidence in the company's direction.
StageZero Life Sciences has launched a new drive-up COVID-19 testing site in Richmond, VA, designed for same-day results. This facility addresses the growing demand for PCR tests, which are required for international travel to destinations like Canada and Jamaica. Unlike most testing sites with a 1-2 day turnaround, StageZero offers rapid documentation necessary for travelers. Appointments can be made online, and tests administered by healthcare professionals will provide results and travel certificates via email the same day. The initiative supports increased travel plans as the pandemic subsides.
StageZero Life Sciences has announced the distribution of COVID-19 PCR saliva test kits through Ichor Blood Services in Canadian provinces starting May 5, 2021. This initiative aims to provide accessible and convenient testing for families, companies, and travelers. The saliva-based kits are considered non-invasive and allow for supervised telehealth testing. StageZero is recognized for its multi-cancer detection blood test, Aristotle®, and operates a high-complexity reference lab in Virginia. The company emphasizes that PCR testing is the gold standard for COVID-19 detection.
StageZero Life Sciences reports Q4 revenue of $2.82 million, up significantly from Q3 and $2.54 million over Q4 2019, primarily due to its COVID-19 testing initiatives. The company also faced a consolidated net loss of $1.52 million for Q4 2020, compared to a net gain in 2019, largely due to increased costs and warrant revaluation. For the full year, the net loss was $6.86 million, reflecting $4.01 million in increased revenue but offset by higher operational costs. The company plans to commercialize its AVRT and Aristotle products, partly supported by C$7M raised through a prospectus offering.
