TORONTO, ON / ACCESSWIRE / May 17, 2022 / StageZero Life Sciences ('StageZero' or the 'Company') (TSX:SZLS)(OTCQB:SZLSF), 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 first quarter financial results for the three months ended March 31, 2022, and provided an update on its business progress.
Operational Updates and Recent Highlights
Q1 continues to build on the momentum from 2021 - notable achievements for the Quarter:
- Completed the integration of Care Oncology into StageZero and started scaling the COC Protocol program in the US, Canada, the UK and Europe
- Launched AVRT in the US
- Expanded marketing of Aristotle into multiple new cities in the US.
- Launched AVRT in the UK.
- Closed a private placement of CAD$1.87M.
Subsequent to Q1, the following has been achieved:
- Keynote speaker at several significant symposia eg the S.E.E. Summit on liquid biopsy - StageZero competitively positioned as a leader in the field
- Launched COC Plus worldwide
'We entered 2022 as a fully integrated company with multiple business units, multiple complementary programs and multiple revenue streams, all of this enabled by our telehealth platform and growing physical presence in the US, Canada and the UK. This first quarter has seen us continue to build on that as we now scale up promotion to take advantage of the infrastructure we have built. As businesses return post-COVID, we look forward to the many strategic relationships we built servicing these groups with COVID testing now revert to testing for cancer' said James Howard-Tripp, Chairman and CEO of StageZero.
'Our growth strategy remains the focus and underpins the long-term value that we are building each and every day. Revenue from COVID testing has rapidly reduced, as expected, and cancer revenue is taking its place, again, as expected' said Matthew Pietras, StageZero's CFO and COO. 'Together with this return to cancer is a continued effort to minimize costs, post consolidation, to increase the efficiency of the organization'
Q1 2022 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 $1.3 million in revenue for the three months ended March 31, 2022 and realized a net loss of $0.6 million, or $0.01 per basic and diluted loss per common share as compared to a $7.3 million net loss in Q1 2021, or $0.08 basic and diluted loss per common share. Adjusted EBITDA for the three-months ended March 31, 2022 totaled $2.6 million.
EBITDA and Adjusted EBITDA
Earnings before interest, taxes, depreciation and amortization ('EBITDA') and adjusted earnings before interest, taxes, depreciation and amortization ('Adjusted EBITDA') are not recognized performance measures under IFRS. EBITDA and Adjusted EBITDA do not have standardized meanings under IFRS and therefore may not be comparable to similar measures presented by other issuers. The term EBITDA consists of net income (loss) and excludes interest, finance costs, taxes, depreciation and amortization. Adjusted EBITDA also excludes share-based compensation, impairment of assets, revaluation of warrants, changes in fair value of conversion debenture and public entity costs. EBITDA and Adjusted EBITDA are included as supplemental disclosures because Management believes that these disclosures provide a better assessment of the Company's continuing operations by eliminating non-cash costs and costs or gains that are not recurring.
The Company's financial statements and management's discussion and analysis are available on www.sedar.com.
Analyst and Investor Call
Event Date: Tuesday May 17, 2022
Time: 8:30 a.m. EST
Webcast Link: https://www.webcaster4.com/Webcast/Page/2082/45520
Participant Numbers: Toll Free: +1-877-545-0523
Participant Access Code: 770603
Replay Number: Toll Free: +1-877-481-4010
Replay Passcode: 45520
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. This underlying technology 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 (ColonSentry®, BreastSentry™, and the Prostate Health Index) 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. In addition, the Company is also leveraging its specialty in polymerase chain reaction (PCR) testing to provide COVID-19 PCR testing (swab and saliva) and Antibody Testing (blood analysis).
StageZero Life Sciences trades on the Toronto Stock exchange under the symbol SZLS and on the OTCQB under the symbol SZLSF.
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:
1-855-420-7140 ext. 1838
SOURCE: StageZero Life Sciences Ltd
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