Mr. James Howard-Tripp reports

STAGEZERO LIFE SCIENCES, LTD ANNOUNCES Q1 2023 FINANCIAL RESULTS - 15.2% GROWTH IN REVENUE OVER Q4 2022 - AND OPERATIONAL UPDATE

Stagezero Life Sciences Ltd. has released its first quarter financial results for the three months ended March 31, 2023, and provided an update on its business operations. All amounts are expressed in U.S. dollars unless otherwise stated and results are reported in accordance with international financial reporting standards.

For the quarter ended March 31, 2023, the company generated revenue of $779,000. This is a 15.2-per-cent 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 health care plans, and our ability to deliver cost-saving solutions (58 per cent in breast cancer alone) to the 64 per cent 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 health care," said James Howard-Tripp, chairman and chief executive officer 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 $779,000 revenue for the quarter (an increase of 15.2 per cent over Q4 2022).
• Launched COC (Care Oncology) protocol 2 in the United States 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 of 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 firefighters in the Greater Toronto Area.
• Aristotle employer programs gaining traction.

Q1 2023 financial results

The company generated $779,000 in revenue for the three months ended March 31, 2023, compared with revenue of $676,000 for the three months ended Dec. 31, 2022. Net loss was $1.8-million, or two-cent loss per fully diluted common share in Q1 2023 as compared with a $9.5-million net loss, or nine-cent 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 comprised 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 SEDAR.

First quarter conference call

Analyst and investor call

Event date: Tuesday May 16, 2023

Time: 8:30 a.m. ET

Participant numbers

Canada/United States (toll-free): 1-800-319-4610

Toronto (toll): 1-416-915-3239

International (toll): 1-604-638-5340

About Stagezero Life Sciences Ltd.

Stagezero Life Sciences is a vertically integrated health care 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 multicancer 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 College of American Pathologists-accredited and Clinical Laboratory Improvement Amendments-certified high-complexity reference laboratory in Richmond, Va. In addition, the company offers multiple telehealth delivered clinical programs for risk stratification and cancer treatment under the guidance of experienced oncologists.

We seek Safe Harbor.