StageZero Life Sciences Announces Delay to Fourth Quarter and Year End 2023 Financial Results

Rhea-AI Summary

StageZero Life Sciences, announces a delay in filing audited financial statements for 2023 due to financial resource constraints. Despite the delay, the company expects Q4 2023 revenue to be consistent with previous quarters. The company plans to file its Annual Report on Form 20-F within the U.S. deadline and release financial results by May 31, 2024.

TORONTO, ON / ACCESSWIRE / April 2, 2024 / StageZero Life Sciences, Ltd. (TSX:SZLS)(OTCQB:SZLSF) ("StageZero" or the "Company"), an integrated healthcare company with the first and only mRNA multi-cancer diagnostic for screening for multiple, key cancers from a single sample of blood - Aristotle, and an oncologist-led adjunctive treatment protocol with early data - METRICS study - showing an improvement in outcome in cancer patients, today announced a delay in the filing of its audited consolidated financial statements for the year ended December 31, 2023, management's discussion and analysis for the same period and management certifications of annual filings (collectively, the "Filings") beyond the deadline of April 2, 2024 prescribed by Canadian securities laws. StageZero expects to file its Annual Report on Form 20-F within the applicable U.S. filing deadline. The Company further announced that it will release its fourth quarter and year end 2023 financial results for the year ended December 31, 2023 before or by May 31, 2024.

Based on unaudited financial statements prepared by the management of the Company, StageZero expects Q4 2023 revenue to be in line with previous quarters during 2023. The principle reason for the delay is that the Company has not had the full financial resources to fully pay the auditor to complete the 2023 audit and establish an independent opinion. Payment to date is partial.

The Company has informed the staff of the Ontario Securities Commission (the "OSC") about its delay of the Filings and has applied to the OSC pursuant to Part 4 of National Policy 12-203 - Management Cease Trade Orders ("NP 12-203") for a Management Cease Trade Order ("MCTO") pending the release of the Filings. If an MCTO is issued, StageZero intends to satisfy the provisions of the "alternative information guidelines" set out in NP 12-203, including the requirement to file bi-weekly status reports in the form of news releases containing prescribed updating information, until the Filings are made. An MCTO would not generally affect the ability of persons who are not directors, officers, or insiders of the Company to trade in securities of the Company.

In accordance with NP 12-203, StageZero confirms there is no insolvency proceeding to which it is subject. The Company further confirms that there is no other material information concerning the affairs of the Company that has not been generally disclosed.

StageZero will provide details on the full year and fourth quarter 2023 conference call at a later date.

About StageZero Life Sciences, Ltd.

StageZero Life Sciences, Ltd. is a vertically integrated healthcare company dedicated to improving the early detection and management of cancer and other chronic diseases through next-generation diagnostics and unique telehealth programs that provide clinical interventions to assist patients who currently have cancer (COC Protocol) as well as help patients reduce the risk of developing late-stage disease (AVRT™).

The Company's next generation test, Aristotle^®, is the first ever mRNA multi-cancer panel for simultaneously screening for multiple cancers from a single sample of blood with high sensitivity and specificity for each cancer. Aristotle^® uses mRNA technology to identify the molecular signatures of multiple cancer types and is built on the Company's patented technology platform, the Sentinel Principle. The Sentinel Principle has been validated in more than 9,000 patients and used by more than 100,000 patients in North America.

The Care Oncology Clinic offers a supervised treatment regimen (the COC Protocol) for people diagnosed with cancer of any type or stage. Developed by scientists and oncologists, the COC Protocol is intended for adjunctive administration alongside standard-of-care cancer therapy. It is an individualized therapeutic approach which seeks to simultaneously target multiple metabolic cancer pathways. The aim is to restrict cancer cell energy supply and use, which may make it more difficult overall for cancer cells to survive, grow and adapt to changing conditions in the body. As a result, such cells can potentially become more vulnerable to attack from cell-killing therapies such as radiotherapy and chemotherapy. Its patented COC Protocol incorporates a multifaceted approach, supported by peer-reviewed scientific studies, which highlight the potential of certain treatments to target the specific energy requirements of cancer cells, impacting their ability to grow and multiply.

AVRT is a Physician-Led, telehealth program for identifying and managing the early warning signs of cancer and chronic disease. Our program includes: a comprehensive online health evaluation; blood tests to measure markers of inflammation and metabolism; an in-depth initial physician consultation; regular physician follow-up appointments and interval screening.

Aristotle^®, as well as additional cancer diagnostics are processed at the Company's clinical laboratory, StageZero Life Sciences, Inc., a CAP accredited and CLIA certified high-complexity reference laboratory in Richmond, Virginia.

StageZero Life Sciences trades on the Toronto Stock exchange under the symbol SZLS and on the OTCQB under the symbol SZLSF.

Forward-Looking Statements
This press release contains forward-looking statements identified by words such as "expects", "will" and similar expressions, which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties that could cause the Company's actual events to differ materially from those projected herein. Investors should consult the Company's ongoing quarterly filings and annual reports for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements, except as required by law.

For further information please contact:
Investor Relations
Rebecca Greco
1-855-420-7140 ext. 1838
rgreco@stagezerols.com

SOURCE: StageZero Life Sciences Ltd

View the original press release on accesswire.com

FAQ

Why did StageZero Life Sciences, announce a delay in filing its audited financial statements for 2023?

StageZero announced the delay due to financial resource constraints preventing full payment to auditors for completing the audit and establishing an independent opinion.

What does StageZero Life Sciences, expect regarding its Q4 2023 revenue?

The company expects Q4 2023 revenue to be in line with previous quarters during 2023.

When does StageZero Life Sciences, plan to file its Annual Report on Form 20-F?

StageZero plans to file its Annual Report on Form 20-F within the applicable U.S. filing deadline.

When will StageZero Life Sciences, release its fourth quarter and year-end 2023 financial results?

The company will release its fourth quarter and year-end 2023 financial results before or by May 31, 2024.