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 third quarter financial results for the three and nine months ended September 30, 2024, and provided an update on its business operations.

“The third quarter focused on the revitalization of our corporate offerings and integration of changes that were made during Q2 and Q3.” said James Howard-Tripp, Chairman and CEO of StageZero Life Sciences.  “Key now, is to launch into our strategic partnerships to fuel the uptake of our Aristotle test and increase revenues” he further added. 

Operational Update

The Company has been under a failure to file cease trade order (“FFCTO”) since April 8, 2024.  During that time operations have been ongoing, disclosure has continued, and the Company undertook a significant strategic review of operations.  This review resulted in several changes which will improve the Company’s competitiveness, lower costs, and strategically prepare for the next 12 months.

During the period of April to October, 2024, the Company undertook several, significant improvements to its operations that are anticipated to increase effectiveness as well as significantly reduce costs:

-        the lab in Richmond has relocated to a smaller, more functional space with an approximate 70% reduction in costs. It is fully operational again;

-        CareOncology UK has been focussed strongly into Europe (population 780 million) with the addition of clinicians based in Europe, offering service in local languages, and operations realigned to support an expanded clinical support group with nurses, nurse practitioners, prescribing pharmacists, nutritionists and clinicians;

-        CareOncology UK/Europe continues to service multiple countries worldwide eg Australia, New Zealand, India and is exploring offering the COC Protocol to patients in Arabic speaking countries with local clinicians;

-        CareOncology USA, which serves both the US and Canada, is being focussed strongly into supporting AVRT with employers and “at risk” individuals and will add clinical staff to provide services to all US States and all of Canada. Significant process improvements have been put in place to increase the level of patient support and minimize costs.

-        After relocation of the lab, Aristotle is being introduced to patients by several new partners. As the lab scales to full capacity, it is anticipated that revenue growth will increase commensurately.

Revenues for Q3 are showing an increase over Q2 as operations normalize.  The first half of 2024 saw a decrease in revenues due to operational changes; revenues began to recover in Q3 and, with the scale up in Aristotle testing, are expected to ramp through the next twelve months. Additionally, the approximately 50% decrease in total operating costs are primarily due to the changes made to the Company to improve costs and operational effectiveness.  

The Company is diligently continuing its efforts to have sufficient funds to fully pay the auditors.  It anticipates having them paid by December 31st, 2024. An application has been made to the OSC for a partial revocation of the FFCTO.  The partial revocation would be needed to allow for a possible equity transaction with the specific purpose of filing the 2023 year end financials and associated documents, and then applying for a full revocation of the FFCTO.  Funding could come in the form of an equity transaction, or as a debt transaction. The Company will update the market as required and once agreements have been concluded.  

Q3 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 $1.412 million in cancer testing and treatment revenue for the nine months ended September 30, 2024 as compared to revenue of $2.206 million for the nine months ended September 30, 2023 and realized a net loss of $1.435 million, or $0.01 basic and diluted loss per common share as compared to a $3.035 million net loss for the nine months ended September 30, 2023, or $0.03 basic and diluted loss per common share. 

The Company generated $0.500 million in revenue for the three months ended September 30, 2024 as compared to revenue of $0.745 million for the three months ended September 30, 2023 and realized a net loss of $0.399 million, or $0.00 basic and diluted loss per common share as compared to $0.822 million net loss for the three months ended September 30, 2023, or $0.01 basic and diluted loss per common share.

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

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

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