04:49:40 EDT Thu 25 Apr 2024
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Stagezero Life Sciences Ltd (2)
Symbol SZLS
Shares Issued 122,952,872
Close 2024-04-02 C$ 0.05
Market Cap C$ 6,147,644
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Stagezero delays 2023 results filing until May 31

2024-04-02 21:54 ET - News Release

Ms. Rebecca Greco reports


Stagezero Life Sciences Ltd. has delayed the filing of its audited consolidated financial statements for the year ended Dec. 31, 2023, management's discussion and analysis for the same period, and management certifications of annual filings beyond the deadline of April 2, 2024, prescribed by Canadian securities laws. Stagezero expects to file its annual report on Form 20-F within the applicable U.S. filing deadline. The company further announced that it will release its fourth quarter and year-end 2023 financial results for the year ended Dec. 31, 2023, before or by May 31, 2024.

Based on unaudited financial statements prepared by the management of the company, Stagezero expects fourth quarter 2023 revenue to be in line with previous quarters during 2023. The principal reason for the delay is that the company has not had the full financial resources to fully pay the auditor to complete the 2023 audit and establish an independent opinion. Payment to date is partial.

The company has informed the staff of the Ontario Securities Commission about its delay of the filings and has applied to the OSC pursuant to Part 4 of National Policy 12-203 (Management Cease Trade Orders) for a management cease trade order pending the release of the filings. If an MCTO is issued, Stagezero intends to satisfy the provisions of the alternative information guidelines set out in NP 12-203, including the requirement to file biweekly status reports in the form of news releases containing prescribed updating information, until the filings are made. An MCTO would not generally affect the ability of persons who are not directors, officers or insiders of the company to trade in securities of the company.

In accordance with NP 12-203, Stagezero confirms there is no insolvency proceeding to which it is subject. The company further confirms that there is no other material information concerning the affairs of the company that has not been generally disclosed.

Stagezero will provide details on the full year and fourth quarter 2023 conference call at a later date.

About Stagezero Life Sciences Ltd.

Stagezero 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 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 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. The Sentinel Principle 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. The program includes: a comprehensive on-line 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, is processed at the company's clinical laboratory, Stagezero Life Sciences Inc., a College of American Pathologists-accredited and clinical-laboratory-improvement-amendment-certified high-complexity reference laboratory in Richmond, Va.

Stagezero trades on the Toronto Stock Exchange under the symbol SZLS and on the OTCQB under the symbol SZLSF.

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