Technology
Zhihu Inc. Reports Unaudited First Quarter 2024 Financial Results
Published
3 months agoon
By
BEIJING, June 12, 2024 /PRNewswire/ — Zhihu Inc. (“Zhihu” or the “Company”) (NYSE: ZH; HKEX: 2390), a leading online content community in China, today announced its unaudited financial results for the quarter ended March 31, 2024.
First Quarter 2024 Highlights
Total revenues were RMB960.9 million (US$133.1 million) in the first quarter of 2024, compared with RMB994.2 million in the same period of 2023.Gross margin expanded to 56.6% in the first quarter of 2024 from 51.5% in the same period of 2023.Net loss was RMB165.8 million (US$23.0 million) in the first quarter of 2024, narrowed by 7.4% from the same period of 2023.Adjusted net loss (non-GAAP)[1] was RMB135.7 million (US$18.8 million) in the first quarter of 2024, compared with RMB120.2 million in the same period of 2023.Average monthly active users (MAUs)[2] were 89.0 million in the first quarter of 2024. Average monthly subscribing members[3] were 14.8 million in the first quarter of 2024.
“We are delighted to start 2024 with a solid financial and operating performance,” said Mr. Yuan Zhou, chairman and chief executive officer of Zhihu. “We made substantial strides toward our break-even target by enhancing operating efficiency and accelerating loss reduction. Furthermore, our efforts to enhance ‘trustworthiness’ within the Zhihu community continued to drive community prosperity, resulting in significant increases in core users’ engagement and retention rates, as well as our DAU time spent. We believe that our AI search feature’s emerging potential and the value we continue to unlock across the trustworthy Zhihu community will provide fresh momentum for our sustainable growth and a clear path to profitability for the remaining quarters of the year.”
Mr. Han Wang, chief financial officer of Zhihu, added, “We optimized our cost structure and enhanced monetization efficiency during the quarter. Our gross profit margin has improved year-over-year for six consecutive quarters. In terms of operating expenses, we significantly reduced community-related new user acquisition costs and maintained a high ROI across our multiple business lines, while investing prudently in AI. We are confident that with continued strong strategic execution, we will remain on track to achieve our profitability goals.”
First Quarter 2024 Financial Results
Total revenues were RMB960.9 million (US$133.1 million) in the first quarter of 2024, compared with RMB994.2 million in the same period of 2023.
Marketing services revenue was RMB330.5 million (US$45.8 million), compared with RMB392.1 million in the same period of 2023. The decrease was primarily due to our ongoing refinement of service offerings to strategically focus on margin improvement.
Paid membership revenue was RMB449.7 million (US$62.3 million), compared with RMB454.8 million in the same period of 2023. The slight decrease was primarily attributable to a slight decline in our average monthly subscribing members.
Vocational training revenue was RMB145.4 million (US$20.1 million), representing a 35.9% increase from RMB107.0 million in the first quarter of 2023. The increase was primarily due to our further enriched online course offerings.
Other revenues were RMB35.2 million (US$4.9 million), compared with RMB40.3 million in the same period of 2023.
Cost of revenues decreased by 13.4% to RMB417.4 million (US$57.8 million) from RMB482.0 million in the same period of 2023. The decrease was primarily due to a decrease in content and operating costs in connection with the decline in our revenues.
Gross profit was RMB543.5 million (US$75.3 million), representing a 6.1% increase from RMB512.2 million in the same period of 2023. Gross margin expanded to 56.6% from 51.5% in the same period of 2023, primarily attributable to our monetization enhancements.
Total operating expenses were RMB768.2 million (US$106.4 million) in the first quarter of 2024, compared with RMB729.0 million in the same period of 2023.
Selling and marketing expenses increased to RMB478.0 million (US$66.2 million) from RMB445.6 million in the same period of 2023. The increase reflects our continued efforts in promoting our product and service offerings.
Research and development expenses increased to RMB197.4 million (US$27.3 million) from RMB183.0 million in the same period of 2023. The increase was primarily due to our increased spending on technology innovation.
General and administrative expenses decreased to RMB92.9 million (US$12.9 million) from RMB100.4 million in the same period of 2023. The decrease was primarily due to lower share-based compensation expenses.
Loss from operations was RMB224.7 million (US$31.1 million) in the first quarter of 2024, compared with RMB216.7 million in the same period of 2023.
Adjusted loss from operations (non-GAAP)[1] was RMB193.6 million (US$26.8 million) in the first quarter of 2024, compared with RMB157.3 million in the same period of 2023.
Net loss was RMB165.8 million (US$23.0 million) in the first quarter of 2024, compared with RMB179.0 million in the same period of 2023.
Adjusted net loss (non-GAAP)[1] was RMB135.7 million (US$18.8 million) in the first quarter of 2024, compared with RMB120.2 million in the same period of 2023.
Diluted net loss per American depositary share (“ADS”)[4] was RMB1.76 (US$0.24), compared with RMB1.78 in the same period of 2023.
Cash and cash equivalents, term deposits and short-term investments
As of March 31, 2024, the Company had cash and cash equivalents, term deposits and short-term investments of RMB5,216.9 million (US$722.5 million), compared with RMB5,462.9 million as of December 31, 2023.
Share Repurchase Programs
As of March 31, 2024, the Company had repurchased 31.1 million Class A ordinary shares (including Class A ordinary shares underlying the ADSs) for a total price of US$66.5 million on both the New York Stock Exchange and The Stock Exchange of Hong Kong Limited under the Company’s existing US$100 million share repurchase program (the “2022 Repurchase Program”) established in May 2022, extended in May 2023, and effective until June 10, 2024. The repurchases made under the 2022 Repurchase Program were covered by the general unconditional mandate to purchase the Company’s own shares approved by shareholders at the Company’s annual general meetings held on June 10, 2022 and June 30, 2023, respectively.
The board of directors of the Company has approved an extension of the 2022 Repurchase Program until June 26, 2025, which is subject to shareholder approval for granting a general mandate to the board of directors to repurchase shares and/or ADSs of the Company not exceeding 10% of the total number of issued shares of the Company (excluding any treasury shares) as of the date of such approval (the “2024 Repurchase Mandate”) at the forthcoming annual general meeting of the Company to be held on June 26, 2024 (the “2024 Shareholder Approval”).
The board of directors of the Company further announces that, in addition to the extended 2022 Repurchase Program, it proposes to conduct a concurrent share repurchase program effective until June 26, 2025 (the “2024 Repurchase Program”). The maximum number of shares (including shares underlying the ADSs) that can be repurchased under the 2024 Repurchase Program, together with the remaining number of shares (including shares underlying the ADSs) that can be repurchased under the 2022 Repurchase Program, will not exceed the 2024 Repurchase Mandate, subject to the 2024 Shareholder Approval. The Company’s proposed repurchases, if approved, may be made from time to time in the open market at prevailing market prices or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. The Company plans to fund any such repurchases from its existing cash balance.
[1] Adjusted loss from operations and adjusted net loss are non-GAAP financial measures. For more information on the non-GAAP financial measures, please see the section “Use of Non-GAAP Financial Measures” and the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this press release.
[2] MAUs refers to the sum of the number of mobile devices that launch our mobile apps at least once in a given month, or mobile MAUs, and the number of logged-in users who visit our PC or mobile website at least once in a given month, after eliminating duplicates.
[3] Monthly subscribing members refers to the number of our Yan Selection members in a specified month. Average monthly subscribing members for a period is calculated by dividing the sum of monthly subscribing members for each month during the specified period by the number of months in such period.
[4] On May 10, 2024, we effected a change in the ratio of our ADSs to Class A ordinary shares from two ADSs representing one Class A ordinary share to a new ratio of one ADS representing three Class A ordinary shares. Basic and diluted net loss per ADS have been retrospectively adjusted to reflect this ADS ratio change for all periods presented.
Conference Call
The Company’s management will host an earnings conference call at 7:00 a.m. U.S. Eastern Time on June 12, 2024 (7:00 p.m. Beijing/Hong Kong time on June 12, 2024).
All participants wishing to join the conference call must pre-register online using the link provided below. Once the pre-registration has been completed, each participant will receive a set of dial-in numbers, a passcode, and a unique registrant ID which can be used to join the conference call. Participants may pre-register at any time, including up to and after the call start time.
Participant Online Registration: https://dpregister.com/sreg/10189533/fc960a34f7
Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at https://ir.zhihu.com.
A replay of the conference call will be accessible approximately one hour after the conclusion of the live call, until June 19, 2024, by dialing the following telephone numbers:
United States (toll free):
+1-877-344-7529
International:
+1-412-317-0088
Replay Access Code:
6946527
About Zhihu Inc.
Zhihu Inc. (NYSE: ZH; HKEX: 2390) is a leading online content community in China where people come to find solutions, make decisions, seek inspiration, and have fun. Since the initial launch in 2010, we have grown from a Q&A community into one of the top comprehensive online content communities and the largest Q&A-inspired online content community in China. For more information, please visit https://ir.zhihu.com.
Use of Non-GAAP Financial Measures
In evaluating the business, the Company considers and uses non-GAAP financial measures, such as adjusted loss from operations and adjusted net loss, to supplement the review and assessment of its operating performance. The Company defines non-GAAP financial measures by excluding the impact of share-based compensation expenses, amortization of intangible assets resulting from business acquisitions and the tax effects of the non-GAAP adjustments, which are non-cash expenses. The Company believes that the non-GAAP financial measures facilitate comparisons of operating performance from period to period and company to company by adjusting for potential impacts of items, which the Company’s management considers to be indicative of its operating performance. The Company believes that the non-GAAP financial measures provide useful information to investors and others in understanding and evaluating the Company’s consolidated results of operations in the same manner as it helps the Company’s management.
The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The presentation of the non-GAAP financial measures may not be comparable to similarly titled measures presented by other companies. The use of the non-GAAP financial measures has limitations as an analytical tool, and investors should not consider it in isolation from, or as a substitute for analysis of, our results of operations or financial condition as reported under U.S. GAAP. For more information on the non-GAAP financial measures, please see the tables captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this press release.
Exchange Rate Information
This announcement contains translations of certain Renminbi amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from Renminbi to U.S. dollars were made at a rate of RMB7.2203 to US$1.00, the exchange rate in effect as of March 29, 2024 as set forth in the H.10 statistical release of the Federal Reserve Board.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to,” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC and the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.
For investor and media inquiries, please contact:
In China:
Zhihu Inc.
Email: ir@zhihu.com
Piacente Financial Communications
Helen Wu
Tel: +86-10-6508-0677
Email: zhihu@tpg-ir.com
In the United States:
Piacente Financial Communications
Brandi Piacente
Phone: +1-212-481-2050
Email: zhihu@tpg-ir.com
ZHIHU INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(All amounts in thousands, except share, ADS, per share data and per ADS data)
For the Three Months Ended
March 31,
2023
December 31,
2023
March 31,
2024
RMB
RMB
RMB
US$
Revenues:
Marketing services
392,137
465,153
330,542
45,780
Paid membership
454,769
455,906
449,724
62,286
Vocational training
106,998
169,272
145,436
20,143
Others
40,316
47,966
35,161
4,870
Total revenues
994,220
1,138,297
960,863
133,079
Cost of revenues
(482,001)
(465,197)
(417,384)
(57,807)
Gross profit
512,219
673,100
543,479
75,272
Selling and marketing expenses
(445,565)
(527,604)
(477,954)
(66,196)
Research and development expenses
(182,960)
(232,585)
(197,356)
(27,333)
General and administrative expenses
(100,438)
(91,069)
(92,917)
(12,869)
Total operating expenses
(728,963)
(851,258)
(768,227)
(106,398)
Loss from operations
(216,744)
(178,158)
(224,748)
(31,126)
Other income/(expenses):
Investment income
6,006
12,279
16,902
2,341
Interest income
39,493
38,828
30,763
4,261
Fair value change of financial instruments
(3,582)
14,780
9,408
1,303
Exchange (losses)/gains
(5,649)
(937)
120
17
Others, net
6,333
15,032
3,043
421
Loss before income tax
(174,143)
(98,176)
(164,512)
(22,783)
Income tax expense
(4,829)
(4,929)
(1,284)
(178)
Net loss
(178,972)
(103,105)
(165,796)
(22,961)
Net (income)/loss attributable to
noncontrolling interests
(2,383)
(666)
950
132
Net loss attributable to Zhihu Inc.’s
shareholders
(181,355)
(103,771)
(164,846)
(22,829)
Net loss per share
Basic
(0.59)
(0.36)
(0.59)
(0.08)
Diluted
(0.59)
(0.36)
(0.59)
(0.08)
Net loss per ADS (One ADS represents
three Class A ordinary shares)
Basic
(1.78)
(1.07)
(1.76)
(0.24)
Diluted
(1.78)
(1.07)
(1.76)
(0.24)
Weighted average number of ordinary
shares outstanding
Basic
305,245,036
291,056,615
281,549,707
281,549,707
Diluted
305,245,036
291,056,615
281,549,707
281,549,707
ZHIHU INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (CONTINUED)
(All amounts in thousands, except share, ADS, per share data and per ADS data)
For the Three Months Ended
March 31,
2023
December 31,
2023
March 31,
2024
RMB
RMB
RMB
US$
Share-based compensation expenses included in:
Cost of revenues
4,400
1,575
2,497
346
Selling and marketing expenses
8,758
(7,001)
3,272
453
Research and development expenses
21,205
(57)
3,680
510
General and administrative expenses
21,555
12,983
16,363
2,266
ZHIHU INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(All amounts in thousands)
As of December 31,
2023
As of March 31,
2024
RMB
RMB
US$
ASSETS
Current assets:
Cash and cash equivalents
2,106,639
2,194,419
303,923
Term deposits
1,586,469
1,553,663
215,180
Short-term investments
1,769,822
1,468,801
203,427
Trade receivables
664,615
638,226
88,393
Amounts due from related parties
18,319
31,277
4,332
Prepayments and other current assets
232,016
239,814
33,214
Total current assets
6,377,880
6,126,200
848,469
Non-current assets:
Property and equipment, net
10,849
10,794
1,495
Intangible assets, net
122,645
117,113
16,220
Goodwill
191,077
191,077
26,464
Long-term investments
44,621
51,176
7,088
Right-of-use assets
40,211
31,141
4,313
Other non-current assets
7,989
7,875
1,090
Total non-current assets
417,392
409,176
56,670
Total assets
6,795,272
6,535,376
905,139
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable and accrued liabilities
1,038,531
1,023,973
141,819
Salary and welfare payables
342,125
332,077
45,992
Taxes payables
21,394
16,328
2,261
Contract liabilities
303,574
310,307
42,977
Amounts due to related parties
26,032
9,491
1,314
Short term lease liabilities
42,089
33,729
4,672
Other current liabilities
171,743
165,873
22,973
Total current liabilities
1,945,488
1,891,778
262,008
Non-current liabilities
Long term lease liabilities
3,642
2,861
396
Deferred tax liabilities
22,574
21,505
2,979
Other non-current liabilities
121,958
111,664
15,465
Total non-current liabilities
148,174
136,030
18,840
Total liabilities
2,093,662
2,027,808
280,848
Total Zhihu Inc.’s shareholders’ equity
4,599,810
4,393,324
608,468
Noncontrolling interests
101,800
114,244
15,823
Total shareholders’ equity
4,701,610
4,507,568
624,291
Total liabilities and shareholders’ equity
6,795,272
6,535,376
905,139
ZHIHU INC.
UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS
(All amounts in thousands)
For the Three Months Ended
March 31,
2023
December 31,
2023
March 31,
2024
RMB
RMB
RMB
US$
Loss from operations
(216,744)
(178,158)
(224,748)
(31,126)
Add:
Share-based compensation expenses
55,918
7,500
25,812
3,575
Amortization of intangible assets resulting
from business acquisitions
3,490
5,365
5,365
743
Adjusted loss from operations
(157,336)
(165,293)
(193,571)
(26,808)
Net loss
(178,972)
(103,105)
(165,796)
(22,961)
Add:
Share-based compensation expenses
55,918
7,500
25,812
3,575
Amortization of intangible assets resulting
from business acquisitions
3,490
5,365
5,365
743
Tax effects on non-GAAP adjustments
(600)
(1,069)
(1,069)
(148)
Adjusted net loss
(120,164)
(91,309)
(135,688)
(18,791)
View original content:https://www.prnewswire.com/news-releases/zhihu-inc-reports-unaudited-first-quarter-2024-financial-results-302170647.html
SOURCE Zhihu Inc.
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NASA Awards $1.5 Million at Watts on the Moon Challenge Finale
Published
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WASHINGTON, Sept. 20, 2024 /PRNewswire/ — NASA has awarded a total of $1.5 million to two U.S. teams for their novel technology solutions addressing energy distribution, management, and storage as part of the agency’s Watts on the Moon Challenge. The innovations from this challenge aim to support NASA’s Artemis missions, which will establish long-term human presence on the Moon.
This two-phase competition has challenged U.S. innovators to develop breakthrough power transmission and energy storage technologies that could enable long-duration Moon missions to advance the nation’s lunar exploration goals. The final phase of the challenge concluded with a technology showcase and winners’ announcement ceremony Friday at Great Lakes Science Center, home of the visitor center for NASA’s Glenn Research Center in Cleveland.
“Congratulations to the finalist teams for developing impactful power solutions in support of NASA’s goal to sustain human presence on the Moon,” said Kim Krome-Sieja, acting program manager for NASA Centennial Challenges at NASA’s Marshall Space Flight Center in Huntsville, Alabama. “These technologies seek to improve our ability to explore and make discoveries in space and could have implications for improving power systems on Earth.”
The winning teams are:
First prize ($1 million): High Efficiency Long-Range Power Solution of Santa Barbara, CaliforniaSecond prize ($500,000): Orbital Mining Corporation of Golden, Colorado
Four teams were invited to refine their hardware and deliver full system prototypes in the final stage of the competition, and three finalist teams completed their technology solutions for demonstration and assessment at NASA Glenn. The technologies were the first power transmission and energy storage prototypes to be tested by NASA in a vacuum chamber mimicking the freezing temperature and absence of pressure found at the permanently shadowed regions of the Lunar South Pole. The simulation required the teams’ power systems to demonstrate operability over six hours of solar daylight and 18 hours of darkness with the user three kilometers (nearly two miles) away from the power source.
During this competition stage, judges scored the finalists’ solutions based on a Total Effective System Mass (TESM) calculation, which measures the effectiveness of the system relative to its size and weight – or mass – and the total energy provided by the power source. The highest-performing solution was identified based on having the lowest TESM value – imitating the challenges that space missions face when attempting to reduce mass while meeting the mission’s electrical power needs.
Team H.E.L.P.S. (High Efficiency Long-Range Power Solution) from University of California, Santa Barbara, won the grand prize for their hardware solution, which had the lowest mass and highest efficiency of all competitors. The technology also featured a special cable operating at 800 volts and an innovative use of energy storage batteries on both ends of the transmission system. They also employed a variable radiation shield to switch between conserving heat during cold periods and disposing of excess heat during high power modes. The final 48-hour test proved their system design effectively met the power transmission, energy storage, and thermal challenges in the final phase of competition.
Orbital Mining Corporation, a space technology startup, received the second prize for its hardware solution that also successfully completed the 48-hour test with high performance. They employed a high-voltage converter system coupled with a low-mass cable and a lithium-ion battery.
“The energy solutions developed by the challenge teams are poised to address NASA’s space technology priorities,” said Amy Kaminski, program executive for Prizes, Challenges, and Crowdsourcing in NASA’s Space Technology Mission Directorate at NASA Headquarters in Washington. “These solutions support NASA’s recently ranked civil space shortfalls, including in the top category of surviving and operating through the lunar night.”
During the technology showcase and winners’ announcement ceremony, NASA experts, media, and members of the public gathered to see the finalist teams’ technologies and hear perspectives from the teams’ participation in the challenge. After the winners were announced, event attendees were also welcome to meet NASA astronaut Stephen Bowen.
The Watts on the Moon Challenge is a NASA Centennial Challenge led by NASA Glenn. NASA Marshall Space Flight Center manages Centennial Challenges, which are part of the agency’s Prizes, Challenges, and Crowdsourcing program in the Space Technology Mission Directorate. NASA contracted HeroX to support the administration of this challenge.
For more information on NASA’s Watts on the Moon Challenge, visit:
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SOURCE NASA
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Kits Eyecare Ltd. Files Final Prospectus For Secondary Offering of Common Shares
Published
7 mins agoon
September 20, 2024By
Final Short Form Prospectus Accessible on SEDAR+
/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, BC, Sept. 20, 2024 /CNW/ – Kits Eyecare Ltd. (TSX: KITS) (“KITS” or the “Company”), a leading vertically integrated eyecare provider, is pleased to announce that it has filed with the securities regulatory authorities in each of the provinces of Canada, other than Québec, and obtained a receipt for, a final short form prospectus (the “Final Prospectus”) in connection with the previously announced secondary offering of common shares of the Company (the “Common Shares”) pursuant to which Canaccord Genuity Corp., as sole bookrunner and co-lead underwriter, together with Beacon Securities Limited, as co-lead underwriter, on behalf of a syndicate of underwriters (collectively, the “Underwriters”) have agreed to purchase, on a bought deal basis, an aggregate of 1,125,000 Common Shares held by Roger Hardy and entities managed by Roger Hardy (the “Hardy Shareholders”), LD Group Holdings Ltd. (“LD Group”) and Joseph Thompson (together with the Hardy Shareholders and LD Group, the “Selling Securityholders”) at an offering price of $10.15 per share (the “Offering Price”) for total gross proceeds to the Selling Securityholders of $11,418,750 (the “Offering”). KITS will not receive any proceeds from the Offering.
The Underwriters have also been granted an over-allotment option (the “Over-Allotment Option”) to purchase up to an additional 168,750 Common Shares from the Selling Securityholders at the Offering Price for additional gross proceeds of $1,712,812.50 if the Over-Allotment Option is exercised in full. The Over-Allotment Option can be exercised at any time, in whole or in part, for a period of 30 days from the closing date of the Offering, which is expected to occur on or about September 26, 2024 and is subject to certain customary closing conditions.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the 1933 Act or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, and applicable U.S. state securities laws.
Access to the Final Prospectus and any amendment is provided in accordance with securities legislation relating to procedures for providing access to a short form prospectus and any amendment. The Final Prospectus is accessible on SEDAR+ at www.sedarplus.ca. An electronic or paper copy of the Final Prospectus and any amendment may be obtained, without charge, from Canaccord Genuity Corp. at ecm@cgf.com by providing the contact with an email address or address, as applicable.
About KITS
KITS makes eyecare easy. KITS is a leading vertically integrated digital eyecare brand providing eyewear for eyes everywhere. We offer customers access to a vast selection of contact lenses and eyeglasses, including our own exclusive KITS designed products, as well as a robust suite of online vision tools. Our efficient digital platform, backed by our industry-leading manufacturing and designs, removes intermediaries, and enables us to offer great prices and deliver made to order personalized products with incredible care and accuracy. We are creating disruption in the industry by constantly pursuing cutting-edge technologies to enable the best customer experience, including online eyewear fitting tools, and virtual try-on for glasses. We strive to delight our customers with our competitive prices, a convenient digital shopping experience, fast and reliable delivery options, and an unrelenting focus on earning our customers’ lifelong trust. For more information on KITS, visit: www.kits.com.
Forward-Looking Information
Certain information in this press release, including statements relating to the closing date of the Offering, and the exercise by the Underwriters of the Over-Allotment Option, constitutes forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events.
Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by KITS as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail under the “Risk Factors” sections of the management’s annual information form, discussion and analysis of financial condition and results of operations of KITS for the 3-month and 6-month periods ended June 30, 2024, each available at www.sedarplus.ca. These factors are not intended to represent a complete list of the factors that could affect KITS; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. In particular, the closing of the Offering is subject to customary closing conditions and there can be no assurance that all such conditions will be satisfied. The forward-looking statements contained in this press release are made as of the date of this press release, and KITS expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE KITS Eyecare Ltd.
Technology
Disparities Narrowing Among Patients Undergoing Blood Stem Cell Transplant, Roswell Park Study Reveals
Published
1 hour agoon
September 20, 2024By
Historically, some patients with blood cancers have been less likely than others to receive stem cell transplant, also known as bone marrow transplant. Theresa Hahn, PhD, of Roswell Park is lead author of a new study showing that older adults and Black patients are much less likely than people from other groups to receive a blood stem cell transplant.
BUFFALO, N.Y., Sept. 20, 2024 /PRNewswire-PRWeb/ —
Study led by Dr. Theresa Hahn published in JAMA Network OpenNumber of transplants for blood cancers rose from 2009 to 2018Research team analyzed trends in transplant utilization for that period
Every year, more than 22,000 patients in the U.S. undergo a potentially lifesaving blood stem cell transplant — often called a “bone marrow transplant” — for the treatment of hematologic diseases. But historically, some patients with blood cancers have been less likely than others to receive the treatment. Theresa Hahn, PhD, of Roswell Park Comprehensive Cancer Center is lead author of a new study in the journal JAMA Network Open showing that while progress has been made in reducing those disparities, older adults and Black patients are much less likely than people from other groups to receive a blood stem cell transplant.
The research team analyzed data provided by the Center for International Blood and Marrow Transplant Research (CIBMTR) for 136,280 patients who underwent hematopoietic cell transplant (HCT) in the U.S. between 2009 and 1018, comparing those numbers with the incidence of six blood cancers (acute myeloid and lymphoblastic leukemia, multiple myeloma, Hodgkin and non-Hodgkin lymphoma and myelodysplastic syndrome) in various age, race and ethnic groups the U.S. as reported by the National Cancer Institute’s Surveillance Epidemiology and End Results (SEER) Program.
The team found that during that period, the use of HCT increased for the treatment of most blood cancers — and rose among all age, race and ethnic groups.
The researchers also discovered that in the most recent years analyzed, from 2017-2018:
The rate of HCT utilization for blood cancers rose among Hispanic and younger patients to equal the rate of non-Hispanic white patients.Non-Hispanic Black patients had a lower rate of HCT for all six diseases studied.Pediatric, adolescent and young adult patients had a higher rate than adult patients of allogeneic HCT, which involves receiving cells from a healthy donor.
“This study shows that while progress has been made to reduce disparities among racial and ethnic groups, there’s a need to improve hematopoietic cell transplant utilization rates in older adults and in Black patients of all ages,” says Dr. Hahn, Professor of Oncology in the Department of Cancer Prevention and Control at Roswell Park and the study’s first author.
The research team also include Dr. Hahn’s Roswell Park colleague Megan Herr, PhD, and collaborators from the Medical College of Wisconsin, Milwaukee; the CIBMTR; and the Mayo Clinic.
From the world’s first chemotherapy research to the PSA prostate cancer biomarker, Roswell Park Comprehensive Cancer Center generates innovations that shape how cancer is detected, treated and prevented worldwide. Driven to eliminate cancer’s grip on humanity, the Roswell Park team of 4,000 makes compassionate, patient-centered cancer care and services accessible across New York State and beyond. Founded in 1898, Roswell Park was among the first three cancer centers nationwide to become a National Cancer Institute-designated comprehensive cancer center and is the only one to hold this designation in Upstate New York. To learn more about Roswell Park Comprehensive Cancer Center and the Roswell Park Care Network, visit http://www.roswellpark.org, call 1-800-ROSWELL (1-800-767-9355) or email ASKRoswell@RoswellPark.org.
Media Contact
Julia Telford, Roswell Park Comprehensive Cancer Center, 716-845-4919, julia.telford@roswellpark.org, roswellpark.org
View original content to download multimedia:https://www.prweb.com/releases/disparities-narrowing-among-patients-undergoing-blood-stem-cell-transplant-roswell-park-study-reveals-302254312.html
SOURCE Roswell Park Comprehensive Cancer Center
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