StageZero Life Sciences, Ltd Announces Q1 2024 Financial Results and Operational Update

Rhea-AI Summary

StageZero Life Sciences (TSX:SZLS) announced its Q1 2024 financial results and provided an operational update. The company reported revenue of $0.523 million for cancer testing and treatment, a decrease from $0.778 million in Q1 2023. Net loss reduced to $0.386 million from $1.812 million in the same period last year. Key developments include advanced discussions with multiple partners in the US and Canada, reorganization of the Richmond lab, and formalized business development in Europe. Upcoming catalysts for 2024 include new partnerships focused on Aristotle, Care Oncology US expansion, and multiple cancer studies. Gross profit was $0.302 million with a gross margin of 58%.

Positive

• Net loss reduced to $0.386 million from $1.812 million in Q1 2023.
• Gross profit of $0.302 million with a gross margin of 58%.
• Advanced discussions with multiple US and Canadian partners to expand reach.
• Reorganization of the Richmond lab to maximize efficiency.
• Formalized business development in Europe for COC Protocol 2.0 launch.

Negative

• Revenue dropped to $0.523 million from $0.778 million in Q1 2023.
• Continued net loss despite reduced amount.

TORONTO, ON / ACCESSWIRE / May 17, 2024 / StageZero Life Sciences ("StageZero" or the "Company") (TSX:SZLS), 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, announced its first quarter financial results for the three months ended March 31, 2024, and will provide an update on its business operations.

During the Quarter the Company achieved the following:

• Advanced conversations with multiple groups and partners:
• a new lab group in the US which will expand reach across both the US and Canada; focus is on both individual patients and employers.
• a new multi-center clinic group that will specifically offer Aristotle into Western Canada and the US.
• a large executive health group to offer multi-cancer screening via Aristotle
• Completed reorganization of the Richmond lab to maximize efficiencies post COVID-19 and ensure the focus is on Aristotle.
• Formalized Business Development in Europe to prepare for the launch of the COC Protocol 2.0.

Upcoming Catalysts for 2024

• New partnerships which focus on Aristotle.
• Care Oncology US expansion into the employer market.
• Care Oncology Europe launch of COC Protocol 2.0.
• Multiple Hospital Study with Aristotle in Greater Toronto Area.
• Glioblastoma Study in Europe.

Q1 2024 Financial Results

All amounts are expressed in U.S. dollars unless otherwise stated and results are reported in accordance with International Financial Reporting Standards.

The Company generated $0.523 million in cancer testing and treatment revenue for the three months ended March 31, 2024 as compared to revenue of $0.778 million for the three months ended March 31 2023 and realized a net loss of $0.386 million, or $0.00 basic and diluted loss per common share as compared to a $1.812 million net loss for the three months ended March 31, 2023, or $0.02 basic and diluted loss per common share.

		Three months ended March 31
		2024
(in thousands of US dollars, except per-share amounts)		$
Revenue
Total revenues			523
Direct costs			221
Gross profit			302
Gross Margin (%)			58

The Company's financial statements and management's discussion and analysis are available on www.sedar.com.

Further discussion about the quarter results will occur on the Analyst and Investor Call, which will be held on Tuesday, May 21, 2024 at 8:00am ET.

Analyst and Investor Call

Event Date: Tuesday, May 21st, 2024
Time: 8:00am ET

Webcast URL:

https://www.webcaster4.com/Webcast/Page/2082/50640

Participant Numbers:

Toll Free: 877-545-0523
International: 973-528-0016
Participant Access Code: 419645

Teleconference Replay Number:

Toll Free: 877-481-4010
International: 919-882-2331
Replay Passcode: 50640

About StageZero Life Sciences, Ltd.

StageZero Life Sciences, Ltd. is a company innovating on the forefront of screening for the early detection of cancer. StageZero combines its proprietary liquid biopsy multi-cancer detection test, Aristotle®, with Physician led clinical programs; offering patients a unique treatment combination not found anywhere else.

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.

Care Oncology Clinic offers a supervised treatment regimen (the COC Protocol) for people diagnosed with cancer of any type or stage. It is an individualized therapeutic approach which seeks to simultaneously target multiple metabolic cancer pathways and is intended for adjunctive administration alongside standard-of-care cancer therapy. The aim is to restrict cancer cell energy supply and use.

The COC Protocol program is managed by a multi-disciplinary team that is overseen by an Oncologist and includes Nurse Practitioners and Metabolic Specialists.

CareOncology Clinics also offers AVRT a Physician-Led, telehealth program for identifying and managing the early warning signs of cancer and chronic disease.

Aristotle® is 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

What were StageZero Life Sciences' Q1 2024 revenues?

StageZero Life Sciences reported Q1 2024 revenues of $0.523 million.

How much did StageZero Life Sciences' revenue decrease in Q1 2024 compared to Q1 2023?

StageZero Life Sciences' revenue decreased from $0.778 million in Q1 2023 to $0.523 million in Q1 2024.

What was StageZero Life Sciences' net loss in Q1 2024?

StageZero Life Sciences' net loss in Q1 2024 was $0.386 million.

What is the gross margin for StageZero Life Sciences in Q1 2024?

The gross margin for StageZero Life Sciences in Q1 2024 was 58%.

What upcoming catalysts did StageZero Life Sciences announce for 2024?

Upcoming catalysts for 2024 include new partnerships focused on Aristotle, Care Oncology US expansion, Care Oncology Europe launch of COC Protocol 2.0, and multiple cancer studies.