Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

Belite Bio IPO More than Doubles on Open

Published 04/29/2022, 06:32 AM
Updated 04/29/2022, 11:04 AM
© Reuters.  Belite Bio (BLTE) IPO More than Doubles on Open

Today's IPO for Belite Bio, Inc (BLTE) opened trading at $12.50 after pricing 6 million American Depositary Shares (ADSs) at a public offering price per ADS of $6.00.

The Benchmark Company, LLC is acting as sole book-running manager for the offering.

Belite Bio is a San Diego based clinical stage biopharmaceutical drug development company focused on novel therapeutics targeting currently untreatable eye diseases involving retinal degeneration, such as atrophic age-related macular degeneration (commonly known as dry AMD) and autosomal recessive Stargardt disease, and metabolic diseases.

Latest comments

The global juvenile macular degeneration (Stargardt disease) market is expected to reach USD 1593.885 million in 2027 from USD 780.995 million in 2016. This market is expected to grow at a stable CAGR of 6.7% during the forecast period 2017-2027. Source: https://www.medgadget.com/2018/06/global-juvenile-degeneration-stargardt-disease-market-exhibit-to-grow-at-cagr-close-to-7-by-2027.html
Two analyst coverages give Belite Bio the 12-month target prices of $57 ~ $58. BLTE’s lead asset development has accomplished several milestones after IPO, such as receiving IND approvals from Belgium and Germany, and expecting 12 months of treatment interim data in October, 2022. Belite Bio looks like a company which can be expected. https://investors.belitebio.com/news-releases/news-release-details/belite-bio-receives-approval-initiate-lbs-008-phase-3-clinical https://investors.belitebio.com/news-releases/news-release-details/belite-bio-receives-approval-lbs-008-phase-3-clinical-trial
why would an American based company from San Diego sell ADRs? something wrong in this report
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.