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Author: ST Staff

  • What Drove IMMR Stock Up 13% After Hours Tuesday?

    In Tuesday’s after-hours trading, shares of the leading developer and provider of technologies for haptics, Immersion Corporation (IMMR) was up 13.14% at $9.30. As of the close of regular session yesterday, Immersion stock lost -2.84% to $8.22. IMMR stock prices ranged between $8.20 and $8.59 on the day. IMMR traded 0.78 million shares on the day, which was below its 100-day average of 0.83 million shares.

    IMMR shares were down -5.41% over the last month, and -5.95% over the past five days. In the current market, IMMR trades at a price to earnings ratio of 18.94 and a price to book ratio of 2.23. IMMR’s price to cash flow ratio is 45.49. Following the announcement of its preliminary financial results, IMMR stock rose significantly.

    IMMR has shared what?

    Intuitive touch feedback, also called haptics, is a technology originally invented by Immersion. Through its technology solutions for gaming, mobile, automotive, and consumer electronics, IMMR develops, accelerates, and scales haptic experiences. With its haptic technology, IMMR enhances digital interactions by bringing the user’s sense of touch into the process. In addition to its headquarters in San Francisco, California, IMMR has offices worldwide.

    July 06, 2021–(BUSINESS WIRE)—

    Immersion announced its preliminary fiscal second-quarter results for the period ended June 30, 2021.

    On the basis of preliminary financial data:

    • IMMR anticipates revenues to be between $10.5 million and $11.0 million.
    • IMMR is likely to incur GAAP operating expenses between $5.1 and $5.5 million, while non-GAAP operating expenses will probably range between $3.9 and $4.3 million.
    • Assuming Non-GAAP Net Income in the range of $6.8 and $7.3 million or $0.22 and $0.23 per diluted share, IMMR’s estimate for GAAP Net Income is of between $5.0 and $5.5 million or $0.16 and $0.18 per diluted share.

    Immersion’s license agreement with ASUS for the use of its TouchSense software and haptics technology was recently updated.

    • By incorporating TouchSense technology, ASUS ROG Phones offer advanced gaming haptics that offer more immersive gaming experiences.
    • The ROG Phone series offers advanced haptic feedback for enhanced gaming experiences as the world’s most powerful gaming smartphone.
    • The ASUSTek has renewed its commitment to the development of the best gaming phones with haptic feedback and to TouchSense technology through this agreement with IMMR.
    • Gamer phones from ASUSTek continue to set new industry standards for performance and elegant design.
    • Immersion (IMMR’s) TouchSense software enhances ROG Phone’s haptic performance, ensuring low-latency rendering of high-quality effects.
    • Use IMMR’s TouchSense software to maximize system efficiency and performance.

    What IMMR is expecting to share in earnings call?

    With its strong first half of 2021, Immersion (IMMR) delivered sequential and year-over-year revenue growth while implementing innovative new products. On its upcoming earnings call, IMMR expects to provide a more comprehensive update on that momentum.

  • On What Basis Did OncoSec (ONCS) Stock Rise 24% In Extended Trading?

    As of last check, OncoSec Medical Incorporated (ONCS) shares rose 24.01% to trade at $3.46 in after-hours trading. OncoSec stock dropped -2.45% on Tuesday to close at $2.79. Volume of ONCS stock remained at 3.43 million shares, exceeding the average daily volume of 0.26 million shares over the past 50 days. Following the signing of a collaboration agreement, ONCS stock rose.

    Why did that collaboration take place?

    A biotechnology company called OncoSec is developing intratumoral immunotherapy based on cytokines to attack cancer cells. One of ONCS’ leads immunotherapy investigational product candidates, TAVO, delivers naturally occurring interleukin-12 (IL-12), an immune-stimulating protein, intratumorally. Using ONCS technology, which involves electroporation, tumor microenvironments are specifically targeted, allowing the immune system to target and eliminate tumor cells throughout the body.

    OncoSec today announced the signing of a Clinical Trial Collaborative and Supply Agreement between ONCS and Merck.

    • ONCS and Merck will conduct an evaluation of ONCS’ DNA-plasmid interleukin-12 TAVO and Merck’s anti-PD-1 drug, KEYTRUDA.
    • ONCS has teamed up with Merck for KEYNOTE-C87 for a global Phase 3 randomized clinical trial.
    • Patients with metastatic melanoma who are refractory to immunotherapies will be randomized into a clinical trial to see how well TAVO combined with KEYTRUDA performs compare to standard of care at late stages of the disease.
    • It was granted Fast Track designation from the US Food and Drug Administration (FDA), as a potentially first-in-class intratumoral anti-cancer gene therapy that expresses IL-12 after progression on KEYTRUDA or OPDIVO.
    • In addition to helping ONCS to support accelerated US FDA approval, this study will also serve as pivotal for a full license to be obtained.
    • ONCS will provide the investigational drug, TAVO, under the terms of the agreement.
    • Costs will be covered by ONCS for third parties, with each party responsible for its own internal costs.
    • It is necessary for patients to have unresectable, metastatic melanoma with a history of checkpoint therapy refractory to treatment.
    • A total of 400 patients are expected to be enrolled in the study, which will be conducted in the US, Canada, the European Union, and Australia.

    What ONCS is trying to achieve?

    The goal of OncoSec (ONCS) entering into this collaboration and supply agreement with Merck is to bring TAVO to patients with metastatic melanoma who have not responded to checkpoint inhibitor therapy or who have developed progressive disease without other therapeutic options. The Phase 3 collaboration represents a significant milestone for ONCS, advancing TAVO from the clinic towards potential approval globally, while building on the clinical collaboration and supply agreement it signed with Merck in 2017.

  • Advaxis, Inc. (ADXS) Stock Skyrockets Ahead of Definitive Merger Agreement with Biosight Ltd

    Advaxis, Inc. (ADXS) Stock Skyrockets Ahead of Definitive Merger Agreement with Biosight Ltd

    Advaxis, Inc. (ADXS) stock prices skyrocketed by a massive 41.25% shortly after market trading commenced on July 6th, 2021, bringing it up to USD$0.667 early on in the trading day.

    Merger with Biosight

    July 6th, 2021 saw the company announce its definitive merger agreement with Biosight Ltd, which will see shareholders of Biosight become majority holders of the combined company upon the closing of the transaction. The resulting entity will be a public company, with a focus on the clinical advancement and commercialization of Biosight’s lead product, BST-236. As of closing, the combined company forecasts a solid liquidity position with roughly USD$50 million in cash, cash equivalents, and marketable securities. The closing of the transaction is expected for the second half of 2021, with the combined company being renamed Biosight Therapeutics, to be traded on the Nasdaq Capital Market under the BSTX ticker symbol.

    Aspacytarabine

    The company anticipates topline results from its ongoing Phase 2 trial of aspacytarabine within 12-18 months. Enrollment has been completed for the trial of first-line therapy in AML patients who cannot undergo traditional chemotherapy. Recent data indicated complete remission rates of 39% across all evaluable patients, with 63% of cases with negative minimal residual disease and median overall survival of 10 months.

    R&D Costs

    Research and development costs for the second quarter of fiscal 2021 were reported at USD$4.34 million, up from the USD$3.92 million for the prior year quarter. The year-over-year difference was largely attributable to the winding down of some legacy studies. Further compounding the difference were losses on disposal of research-related property and equipment in connection with the termination of the office lease at ADXS’s former location.

    Solid Liquidity Position

    ADXS reported USD$48.1 million in cash and cash equivalents as of April 30th 2021, with the company confident that it is enough to fund its obligations as they arise. The solid liquidity position will see the ordinary course of the business through to the third fiscal quarter of 2023.

    Future Outlook for ADXS

    Armed with a solid liquidity position and a lucrative merger, ADXS is poised to capitalize on the opportunities afforded to it. The company is keen to facilitate the commercialization and proliferation of BST-236 in order to usher in further growth.

  • SemiLEDs Corp. (LEDS) Stock Continues Upward Trend After Entering Limelight for Day Traders

    SemiLEDs Corp. (LEDS) Stock Continues Upward Trend After Entering Limelight for Day Traders

    SemiLEDs Corp. (LEDS) stock prices were up by 5.14% some time aftermarket trading commenced on July 6th, 2021, bringing the price per share up to USD$16.77 early on in the trading day.

    Revenue and Net Loss Reports

    The company reported revenue in the amount of USD$1.4 million for the third quarter of fiscal 2021, up from the USD$1.2 million reported in the prior quarter. GAAP net loss attributable to SemiLEDs stockholders came out to USD$64,000, representing a net loss of USD$0.02 per diluted share, for the third quarter of fiscal 2021. The second quarter of fiscal 2021 reported a net loss of USD$255,000, representing a net loss of USD$0.06 per diluted share.

    GAAP Gross Margin and Liquidity Position

    GAAP gross margin was up to 46% for Q3 of fiscal 2021, a significant improvement from the 20% reported for the prior quarter. Operating margins for the quarter ended May 31st, 2021 was down to negative 41%, as compared to the negative 42% reported for Q2 of fiscal 2021. The company ended the third quarter of fiscal 2021 with a solid liquidity position. As of May 31st 2021, the company reported cash and cash equivalents in the amount of USD$1.7 million, down from the USD$2.1 million reported at the end of Q2 of fiscal 2021.

    Scope of LEDS

    The company develops and manufactures both LED chips and components for general lighting applications, including, but not limited to streetlights, as well as commercial, industrial, system, and residential lighting. LEDS also facilitates specialty industrial applications, such as UV curing, medical/cosmetic, counterfeit detection, horticulture, architectural lighting, and entertainment lighting. The company’s product portfolio includes blue, white, green, and UV LED chips.

    Effects of the Pandemic

    Current and potential investors are hopeful that management will continue to push for continued growth as global restrictions ease and universal immunization programs are accelerated. Nevertheless, recent activity has been largely confounding. With the company itself admitting to lacking any fundamental reason for the gains, evidence suggests LEDS is being driven by day traders. The company has reported a negative free cash flow and only USD$5 million in revenue over the last twelve months.

    Future Outlook for LEDS

    Armed with consistently improving financials despite the ongoing effects of the coronavirus pandemic, LEDS has managed to stay afloat during particularly tumultuous economic times. The dire straits presented by the onset of Covid-19 resulted in the massive reduction of the scope of the company’s business, with social gatherings being limited and so many businesses facing temporary or permanent closure.

  • Why Is PFSW Stock So High In Early Trades Today?

    Shares of the global commerce services company PFSweb Inc. (PFSW) has risen 37.38% to $10.40 at the last check in today’s session. In the previous session, PFSweb stock closed at $7.57. Price ranged from $7.36 to $7.61 for PFSW stock. PFSweb traded 2.12 million shares, which was above its 100-day average of 0.13 million shares. PFSW stock climbed after an agreement to sell a business unit.

    PFSW has sold what?

    PFSweb offers eCommerce services to major manufacturers and retailers. PFSW manages the online shopping experience for their customers. PFSW’s two business units, LiveArea and PFS, serve Fortune 500 organizations and household brands such as Procter & Gamble, L’Oréal USA, Champion, Pandora, Ralph Lauren, Shiseido Americas, and the United States Mint, among others. PFSW makes online shopping convenient and more brand-centric for these companies across traditional and online channels. PFSW has offices around the world, with its headquarters in Allen, TX.

    As announced by PFSW today, Merkle has been acquiring LiveArea, PFSweb’s global customer experience and commerce agency business unit.

    • PFSW inked the agreement with the company within the Dentsu International, a company focused on customer experience management (CXM) using data-driven technology.
    • Merkle has agreed to purchase LiveArea for $250 million, with net proceeds expected to range from $185 million to $200 million, after factoring in estimated taxes and transaction-related expenses.
    • In addition to using existing cash on hand to pay off its senior financing facilities in full, PFSW expects to utilize a portion of the net proceeds of the transaction following the completion of the transaction.
    • LiveArea generated approximately $85 million in revenue for PFSW in the 12-month period ending March 31, 2021.
    • Under normal closing conditions, PFSW expects the transaction to close by the third quarter of 2021.
    • With strong first quarter results for 2021, PFSW has demonstrated its ability to optimize its resources and serve as a dedicated, flexible partner to clients.
    • LiveArea and PFS have been established as distinct brands within the market, they have been segmented financially, and PFSW has structured its back office operations to support this segmented approach.
    • This process of strategic alternatives will be undertaken while PFW continues to maximize the growth of PFS.
    • PFSW’s assessment of the process will identify the best option that includes maximization of shareholder value while also dealing with the needs of team members.

    What does this move mean for PFSW’s strategic plan?

    Through this transaction, PFSW has clearly demonstrated its commitment to driving value for shareholders through growth for every business unit. PFSweb (PFSW) has also engaged Raymond James to engage in strategic alternatives exploration for its remaining business, PFS, in order to maximize shareholder value following the sale of LiveArea.

  • What Is Driving The UBX Stock Higher In Early Trades?

    In the current market at the time of writing, Unity Biotechnology Inc. (UBX) shares were trading at $4.71, up 5.37%. The UBX stock price closed at $4.47 in the previous session. Volume on UBX stock fell to 0.47 million shares, less than the 50-day average of 0.55 million shares. Within the past week, UBX shares have risen by 3.00%, following a drop of -50.11% over the past 12 months.

    UBX stock has lost -27.79% over the past three months, and -14.69% over the past six months. Furthermore, UBX has a market capitalization of $246.79 million and 54.17 million outstanding shares. Following a positive phase I clinical trial announcement, UBX stock is rising.

    What is the purpose of UBX’s trial?

    A new class of therapeutics is being developed by UNITY to prevent, slow down, or reverse diseases of aging. UBX is currently developing medicines that target senescent cells which will have a transformative effect on diseases related to aging.

    A Phase 1 safety study of UBX1325 involving a combination of vegf inhibitors and monoclonal antibodies was announced today by Unity Biotechnology for early-stage DME or wet AMD patients for whom anti-VEGF treatment was no longer considered effective.

    • As part of UBX’s Phase 2a clinical study, the first patient with DME has been dosed with UBX1325.
    • UBX anticipates receiving trial results in the first half of 2022.
    • A Phase 1 study with advanced wet AMD is also being conducted by UBX so that more data can be collected to support a Phase 2a study in wet AMD.
    • It is hoped that the results of these studies will inform clinicians about UBX1325’s efficacy across a wider spectrum of patients, including those who are refractory to anti-VEGF therapy.
    • Twelve patients with advanced DME or wet AMD, unresponsive to anti-VEGF therapies, were included in the UBX Phase 1, first-in-human, open-label study.
    • These results support further clinical development of UBX1325 in this patient population, which showed a favorable acute safety profile.
    • Two nonserious but nondrug-related adverse events were reported, but no dose-limiting toxicity was observed.
    • Further, patients treated with UBX1325 saw improvement in sight and retinal structure.

    What UBX is expecting further?

    Unity Biotechnology (UBX) candidate works entirely differently, by targeting a completely different mechanism in the retinal and choroidal vasculature, which is a possible root cause of disease progression. With this method, UBX1325 would be a valuable alternative to anti-VEGF treatments. In the coming year, Unity (UBX) will be reporting a number of important data readouts that will bolster its knowledge of the optimal treatment regimen and combination of UBX1325 and DME.

  • IVERIC bio (ISEE) Stock Rose 8% Premarket. How Did That Happen?

    At last check in pre-market trading, shares of IVERIC bio Inc. (ISEE) were up 8.44% to $8.61 this morning. IVERIC stock closed the Friday session at $7.33, which was an increase of 12.31% or $0.87. Shares of the ISEE stock fluctuated between $6.9601 and $8.0495 during the session. Approximately 5.15 million shares were exchanged, increasing over ISEE’s 50-day volume of 0.97 million shares and exceeding its year-to-date volume of 0.74 million shares. The ISEE stock is climbing after receiving FDA approval under Special Protocol Assessment (SPA).

    What FDA agreement did ISEE receive?

    A science-driven biopharmaceutical company, IVERIC discovers and develops novel treatments for retinal diseases that remain untreated. ISEE is currently working on both treating age-related retinal diseases and developing gene therapy for orphan genetic variant retinal diseases.

    IVERIC announced today that the US Food and Drug Administration (FDA) approved the overall design of ISEE’s major trial under a Special Protocol Assessment (SPA).

    • ISEE’s GATHER2 trial is designed to reveal Zimurain’s potential as a treatment for age-related macular degeneration (AMD) and geographic atrophy (GA).
    • ISEE has announced that enrollment in GATHER2 will be complete by the end of July.
    • On this basis, ISEE will provide topline GATHER2 data in 2022, approximately one year after the last patient is enrolled plus the time necessary for database lock and analysis.
    • GATHER2 will be a well-controlled, adequate clinical trial similar to ISEE’s GATHER1 clinical trial, which, if positive, would support a New Drug Application (NDA) for Zimura in the treatment of GA secondary to AMD.
    • Upon meeting the FDA’s primary efficacy endpoint in the ongoing GATHER2 clinical trial after twelve months, ISEE expects to file an application.
    • In connection with the SPA, the FDA recommended, and ISEE accepted, modifying the primary efficacy endpoint for the GATHER2 trial at three timepoints of baseline, month 6 and month 12.
    • During SPA negotiations, ISEE submitted a revised clinical trial protocol, as well as a revised statistical analysis plan (SAP) for the GATHER2 trial reflecting the revised primary efficacy endpoint and statistical analysis method agreed upon by the FDA.

    What ISEE is expecting further?

    IVERIC bio (ISEE) does not need to collect any new data as the primary efficacy endpoint has been modified. Instead, the way data are analyzed has changed. ISEE was subsequently informed by the FDA that the GATHER1 SPA results would be considered in an FDA NDA submission for Zimura, using the prespecified Primary Efficient Endpoint Analysis, plus a post hoc analysis using the same FDA preferred method.

  • What Caused The Shentel (SHEN) Stock To Rise In Premarket Session?

    Shenandoah Telecommunications Company (SHEN) is trading at $60.10 in pre-market trading, up 5.79% from the last check. Last session, SHEN closed at $56.61, an increase of 15.49% or $7.62. SHEN stock fluctuated throughout the day between $52.24 and $57.65. Shares exchanged reached 1.7 million, surpassing Shenandoah’s average daily volume of 0.21 million and exceeding its volume year-to-date of 0.2 million.

    The SHEN stock has advanced 12.88% over the past year, and in the last week, it has risen 13.51%. Price of SHEN stock for the past six months has increased by 31.35%, and for the last three months, it has increased by 13.42%. The SHEN stock price has risen after the company announced a special dividend for assets sold off.

    SHEN has sold what?

    Shenandoah offers broadband services to customers in the Mid-Atlantic United States via its high-speed, fiber-optic, and fixed wireless networks. Services provided by SHEN include voice, video, broadband internet, wavelengths, fiber optics, and leasing. Tower colocation services are also available at SHEN. There are over 6,800 fiber route miles and 223 macro cellular towers in the SHEN network.

    The Board of Directors of Shentel, has declared a special dividend of $18.75 per share for SHEN’s outstanding and issued shares.

    • The special dividend will be paid on August 2, 2021, to SHEN shareholders of record as of July 13, 2021.
    • Being the first business day following the payment date, August 3, 2021, will be the ex-dividend date in accordance with the NASDAQ rules.
    • In accordance with its dividend reinvestment plan, SHEN currently anticipates investing approximately $19.6 million of the special dividend.
    • Stock transactions involving SHEN common stock are expected to be conducted within 30 days after dividend payment.
    • Dividends reinvested will be used to purchase stock in market transactions.
    • After reinvestments through SHEN’s Dividend Reinvestment Plan, the total dividend payout to SHEN shareholders will be approximately $936 million.
    • Last week, Shenandoah announced the sale of its Wireless assets to T-Mobile USA.
    • In settling Sprint Corporation, an indirect subsidiary of T-Mobile, SHEN received approximately $60 million; certain transaction expenses were deducted. The total cash proceeds were $1.94 billion.
    • SHEN repaid all outstanding debt and terminated the facility and interest rate swap contracts, as required by its 2018 credit facility. $684 million of the proceeds was used to pay off all outstanding debt.

    SHEN moving forward:

    Now that Shenandoah (SHEN) has closed its chapter as a wireless services provider, it focuses on becoming a broadband service provider. With its unique, integrated fiber, cable, and fixed wireless broadband networks, SHEN will be able to provide the fastest internet services in the market.

  • MediciNova, Inc. (MNOV) Stock Undergoes Minor Volatility Ahead of Patent for MN-166

    MediciNova, Inc. (MNOV) stock prices were down by a marginal 0.96% as of the market closing on July 2nd, 2021, bringing the price per share down to USD$4.11 at the end of the trading day. Subsequent premarket fluctuations have seen the stock climb by 4.14%, bringing it up to USD$4.20.

    Patent for MN-166

    July 6th 2021 saw the company announce that it had received a Notice of Allowance from the U.S Patent and Trademark Office for a pending patent application in regard to the treatment of ophthalmic disease with MN-166 (ibudilast). Upon issuance, the patent resulting from the application process is expected to last until at least October 2039.

    Details of the Patent

    The patent covers the administration of effective amounts of MN-166 to human patients in the interest of treating ophthalmic disease/disorder or injury associated with a neurodegenerative disease/disorder or a neuro-opthalmologic disorder. The allowed claims specifically cover macular injury treatment while also covering a wide range of doses and formulations of the treatment, across a range of different dosing frequencies.

    MN-166

    The small molecule compound, MN-166, inhibits PDE4 and inflammatory cytokines, including macrophage migration inhibitory factor. The treatment is in late-stage clinical development, with the aim of treating neurodegenerative diseases such as ALS, progressive MS, and DCM. The treatment also has the potential to treat glioblastoma, CIPN, and substance abuse disorders.

    Scope of MN-166

    Previous positive data from a glaucoma animal model study and a retinal damage animal model study have already established the potential of MN-166 as a treatment for ophthalmic neurodegenerative diseases. November 2020 saw the company report positive Optical Coherence Tomography results from the SPRINT-MS Phase 2b trial of MN-166 in the treatment of progressive multiple sclerosis. Patent approval will significant increase the potential commercial value of MN-166, having been provided with more opportunities for further development.

    About MNOV

    The company is a clinical-stage biopharmaceutical entity that develops a varied, late-stage pipeline of innovative small molecule therapies. These therapies are designed to treat inflammatory, fibrotic, and neurodegenerative diseases. The company has 11 programs currently in clinical development, based on its two compounds, MN-166 and MN-001, with each having multiple mechanisms of action and strong safety profiles.

    Future Outlook for MNOV

    Armed with the massive unlocked potential of the commercialization of MN-166 with the recent patent approval, MNOV is poised to capitalize on the expanded arsenal of opportunities ahead of it. Current and potential investors are keen for the proliferation of the treatment that will usher in unprecedented gains in shareholder value.

  • Is This Why The Kanzhun (BZ) Stock Falling Premarket?

    An early Tuesday premarket price quote for leading online recruitment platform in China Kanzhun Limited (BZ) is $32.56 down -10.33%. Kazhun stock closed at $36.31 last session, down -2.13%. A total of 1.08 million shares were traded on the BZ stock, which is less than the 2.97M average daily volume for the last 50 days. BOSS Zhipin has lost -13.65% of its value in the last five days yet has experienced a -2.49% loss year-to-date. After commencement of the cybersecurity review in China, BZ stock has lost ground.

    Why is BZ facing the review?

    BOSS Zhipin, a Chinese online recruitment platform operated by Kanzhun, has the largest MAU of any recruitment platform in China in 2020. BZ connects company users and job seekers by utilizing a highly interactive mobile app that was established seven years ago. With BZ’s platform, companies are able to communicate two-way, create intelligent recommendations, and automate procedures related to online recruiting. BZ has realized higher recruitment efficiency and rapid expansion thanks to its large and diverse user base. By optimizing efficiency, equality, and choice, BZ is delivering an excellent user experience.

    On July 5, 2021, KANZHUN announced that BZ was subject to a cybersecurity review under the Cyberspace Administration of China.

    • In order to facilitate the review process, “BOSS Zhipin” app must suspend new user registration in China during the period of review.
    • During the review process, BZ will cooperate fully with the Chinese government authority.
    • A comprehensive examination of cybersecurity risks is in the works at BZ, and the company will continue to enhance its technology capability and cybersecurity awareness.
    • While BZ has suspended new registrations for the “BOSS Zhipin” application in China, the company maintains regular operations.
    • In announcing its investigation into online recruiter BZ, truck-hailing apps Huochebang and Yunmanman, China’s cyberspace watchdog increased its crackdown on mainland tech companies amid tightened data security regulations.
    • Full Truck Alliance, a merging of Huochebang and Yunmanman, and BOSS Zhipin owner BZ went public in the US stock market last month.
    • According to a statement from the CAC, new user registrations at BZ as well its merged businesses should be halted while the investigation is conducted “to prevent national data security risks and safeguard national security”.

    How it will impact BZ?

    Its platform boasts more than 10 million registered truck drivers and more than 5 million truck owners, making Full Truck Alliance an Uber for trucks. In its prospectus, Kanzhun said that BZ was China’s biggest online recruiter in the first quarter of 2021, with 24.9 million monthly active users.