StageZero Life Sciences Provides an Update on Application for Management Cease Trade Order
- None.
- The denial of the voluntary management cease trade order by the Ontario Securities Commission is a negative development for StageZero Life Sciences,
- Anticipated delays in filing audited annual financial statements and management discussion & analysis could lead to the imposition of a Failure-to-File Cease Trade Order by the OSC.
- The Company's inability to meet the criteria for an MCTO reflects potential challenges in its financial reporting and compliance processes.
TORONTO, ON / ACCESSWIRE / April 5, 2024 / StageZero Life Sciences, Ltd. (TSX:SZLS)(OTCQB:SZLSF) ("StageZero" or the "Company"), an integrated healthcare company with the first and only mRNA multi-cancer diagnostic for screening for multiple, key cancers from a single sample of blood - Aristotle, and an oncologist-led adjunctive treatment protocol with early data - METRICS study - showing an improvement in outcome in cancer patients, today announced further to its press release of April 2, 2024, that the Ontario Securities Commission (the "OSC") has denied the Company's application for a voluntary management cease trade order (the "MCTO") as the Company does not meet the criteria for an MCTO.
The Company filed the application for a voluntary MCTO with the OSC due to an anticipated delay in filing its audited annual financial statements and management discussion & analysis for the financial year ended December 31, 2023, and the CEO and CFO certificates, all as required by National Instrument 51-102 - Continuous Disclosure Obligations and National Instrument 52-109 - Certification of Disclosure in Issuers' Annual and Interim Filings (collectively, the "Documents"). The Documents are required to be filed by April 2, 2024 (the "Filing Deadline"). As a consequence, if the Documents are not filed by the Filing Deadline, the OSC may impose a Failure-to-File Cease Trade Order ("FFCTO").
The Company continues to work diligently and expeditiously with all of its auditors and expects to file the Documents as soon as possible with a current expectation of before or by May 31, 2024.
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. 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. 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 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.
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
rgreco@stagezerols.com
SOURCE: StageZero Life Sciences Ltd.
View the original press release on accesswire.com
