Zero Candida eyes clinical trials, expands market presence after milestone year

Zero Candida Ltd (TSX-V:ZCT, OTCQB:ZCTFF) is preparing for the next phase of its growth as it moves toward clinical trials for its Candidiasis treatment technology. 

The FemTech medical device company, which completed a public listing and key pre-clinical milestones in 2024, reported its financial results for the year and outlined plans for expansion.

"2024 was a transformative year for Zero Candida," said CEO Eli Ben Haroosh. "We established a strong foundation, achieved critical regulatory and business milestones, and are now set to accelerate development. 

“Looking ahead, our focus is on advancing to clinical trials and commercializing our groundbreaking device to address a major unmet need in women’s health."

Milestone year

Zero Candida’s progress over the past year has positioned it for clinical development. The company completed a pre-clinical safety study at Shamir Medical Centre, which found no safety concerns with its ZC-01 device. Additionally, Zero Candida completed a reverse merger acquisition and secured a final patent in South Africa for ZC-01.

The company also expanded its market presence, first listing on the TSX Venture Exchange in November before adding trading on the Frankfurt Stock Exchange in January and the OTCQB Venture Market in March. 

Financially, the company reported a net loss of C$6.28 million for 2024, up from C$2.51 million the previous year, largely due to C$4 million in issuance costs related to its reverse acquisition. Research and development expenses fell to C$1.28 million from C$1.87 million. 

At the end of 2024, the company’s cash and cash equivalents stood at C$3.05 million, an increase from C$1.64 million a year earlier. 

With these financial and operational milestones in place, Zero Candida is shifting its focus to clinical trials and regulatory approvals, essential steps toward bringing its Candidiasis treatment to market. The company said it expects 2025 to be a pivotal year as it accelerates development, leveraging its strengthened intellectual property and growing investor base.