StageZero Life Sciences, Ltd Announces Q1 2023 Financial Results - 15.2% Growth in Revenue over Q4 2022 - and Operational Update

Toronto, Ontario--(Newsfile Corp. - May 16, 2023) - StageZero Life Sciences (TSX: SZLS) ("StageZero" or the "Company"), 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, 2023, and provided an update on its business operations.

For the quarter ended March 31, 2023, the Company generated revenue of $0.779 million. This is a 15.2% growth over the last Quarter - Q4 2023 - and is specific to StageZero's core focus on the early detection, treatment and prevention of cancer.

"With a market that has 100 million employees in self-funded healthcare plans, and our ability to deliver cost saving solutions (58% in breast cancer alone) to the 64% of employers who manage these self-funded plans, as well as the insurers that cover them, we expect to have an impact on the provision of employee healthcare," said James Howard-Tripp, Chairman & CEO of StageZero Life Sciences. "We are uniquely positioned with an end-to-end solution from Aristotle for early detection, to AVRT for risk factor identification and intervention".

Operational Updates and Recent Highlights

In the first three months of 2023, the Company:

• Generated $0.779 Million revenue for the quarter (an increase of 15.2% over last Quarter Q4 2022).
• Launched COC Protocol 2 in the US and Canada. Initial uptake very positive.
• METRICS Study Informs Expansion of StageZero's New Care Oncology Protocol 2; pathway to METRICS II and Glioblastoma addition to Aristotle®.
• COC clinics on path to full profitability by end Q3.
• Initiating mental health support program for Care Oncology patients and for employer groups. Launch in Q2.
• Scaled up Aristotle®/AVRT early cancer screening with Fire Fighters in the Greater Toronto Area.
• Aristotle® Employer programs gaining traction.

Q1 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 $0.779 million in revenue for the three-months ended March 31,2023, compared to revenue of $0.676 million for the three months ended December 31, 2022. Net loss was $1.8 million, or $0.02 loss per fully diluted common share in Q1 2023 as compared to a $9.5 million net loss, or $0.09 loss per fully diluted common share in Q4 2022.

The Company decided the quarter to quarter comparison of Q4 2022 to Q1 2023 was more accurate, as the revenues were from cancer detection and treatment. Q1 2022 revenues were comprised of COVID-19 testing and no longer provide a suitable metric by which to measure growth of the business in the diagnosis and treatment of cancer.

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

First Quarter Conference Call

Analyst and Investor Call

Event Date: Tuesday May 16, 2023
Time: 830 am ET
Webcast Link: https://www.gowebcasting.com/12565

Participant 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 vertically integrated healthcare company dedicated to improving the early detection and management of cancer and other chronic diseases through next-generation diagnostics and a unique telehealth program that provides clinical interventions to 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.

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 offers multiple telehealth delivered clinical programs for risk stratification and cancer treatment under the guidance of experienced oncologists.

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
[email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/166262