TORONTO, August 15, 2023 (Newswire.com) - StageZero Life Sciences ("StageZero" or the "Company") (TSX: SZLS), a vertically-integrated healthcare company devoted to improving the early detection and management of cancer and other chronic diseases through leading-edge molecular diagnostics and clinical interventions, today announced its second quarter financial results for the three and six months ended June 30, 2023, and will provide an update on its business operations.
For the quarter ended June 30, 2023 the Company generated revenue of $0.793 million. This is a small increase over Q1 2023 but continues the trajectory established post-COVID of Quarterly gains. Net loss narrowed to ($0.401) with a ($0.00) basic and diluted loss per common share.
"This has been a quarter of negotiating and concluding key partnerships that we expect to contribute strongly to our growth during the second half of this year," said James Howard-Tripp, Chairman & CEO of StageZero Life Sciences. "A major focus is on self-funded employers where we believe Aristotle and AVRT uniquely position us, the insurance groups that back them, but also to position ourselves for new, exciting initiatives in Preventative Health. Our partners reflect this," he added.
Strategic partnerships with laboratory groups and clinical groups will increase the number of employers, clinics and individual patients who can readily access StageZero's Aristotle test and AVRT/TREAT programs. Individuals and Employers are increasingly looking for better health outcomes and early detection notably contributes to a better outcome. In addition, it contributes to lower costs which, for Employers, is a driving metric for their bottom line.
Operational Update: will be provided during Analyst Call.
Q2 2023 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 $1.6 million in cancer testing and treatment revenue for the six months ended June 30, 2023 as compared to COVID testing-related $2.3 million in revenue for the six months ended June 30, 2022 and realized a net loss of $2.2 million, or $0.02 basic and diluted loss per common share as compared to a $1.9 million net loss for the six months ended June 30, 2022, or $0.02 basic and diluted loss per common share.
The Company generated $0.793 million in cancer testing and treatment revenue for the three- months ended June 30, 2023, compared to COVID testing-related revenue of $0.998 million for the three months ended June 30, 2022. Net loss was $0.4 million, or $0.00 loss per fully diluted common share in Q2, 2023 as compared to a $1.3 million net loss, or $0.01 loss per fully diluted common share in Q2, 2022.
The Company's financial statements and management's discussion and analysis are available on www.sedar.com.
Analyst and Investor Call
Event Date: Tuesday August 15, 2023
Time: 8:30 am ET
Webcast Link: https://www.gowebcasting.com/12674
Conference Call Numbers
Canada/USA TF: 1-800-319-4610
Toronto Toll: +1-416-915-3239
International Toll: +1-604-638-5340
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.
Contact Information:Rebecca Greco
Investor Relations
[email protected]
1.855.420.7140 ext. 1838
Original Source: StageZero Life Sciences, Ltd Announces Q2 2023 Financial Results and Operational Update
