Wednesday, May 04, 2022 5:58:30 PM
May 03, 2022 12:30 PM ETBLTEBy: Val Kennedy, SA News Editor
IPO Initial Public Offering
Mikko Lemola/iStock via Getty Images
Belite Bio (BLTE) stock soared 65% on Tuesday on the heels of a strong performance last Friday following its $36M initial public offering.
Shares of the ophthalmology drug developer opened at $10.60, recently changing hands at $14.70, up 65%, at approximately $12.05 p.m. ET.
BLTE held its IPO on April 29, offering 6 million American Depositary Shares at $6 per ADS. Underwriters were granted an option to buy up to 900k additional shares ADSs at the public price. The company’s principal stockholder, Taiwan’s Lin BioScience, agreed to buy around $15M of the offering.
The stock rocketed following the IPO on Friday, reaching a session high of $17.50 before closing at $10.59, up 77% over its offering price. The stock slid 16% on Monday.
BLTE has been focused on developing treatments for eye and metabolic diseases. The company plans to use proceeds from the IPO in part to fund Phase 3 clinical testing for its drug candidate LBS-008 for Stargardt disease and further development of the product for the treatment of dry age-related macular degeneration.
Successful Trading is the art of minimizing long term risk and maximizing capital allocation.
Recent BLTE News
- Belite Bio Announces PMDA Submission of Tinlarebant for Stargardt Disease Clinical Trial in Japan • GlobeNewswire Inc. • 03/22/2024 12:00:00 PM
- Belite Bio Announces Availability of Annual Report on Form 20-F Through Company Website • GlobeNewswire Inc. • 03/12/2024 02:28:39 AM
- Belite Bio Reports Fourth Quarter and Full Year 2023 Financial Results and Provides Corporate Update • GlobeNewswire Inc. • 03/12/2024 01:27:47 AM
- Belite Bio to Host Webcast on March 12, 2024, to Discuss Fourth Quarter and Full Year 2024 Financial Results • GlobeNewswire Inc. • 03/06/2024 01:00:00 PM
- Belite Bio to Participate in the Leerink Partners Global Biopharma Conference • GlobeNewswire Inc. • 03/04/2024 01:00:00 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/13/2024 02:08:25 AM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/13/2024 01:40:46 AM
- Belite Bio to Present at the Oppenheimer 34th Annual Healthcare Life Sciences Conference • GlobeNewswire Inc. • 02/07/2024 01:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 12/28/2023 09:16:26 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 12/28/2023 09:15:43 PM
- Belite Bio to Participate in the Benchmark Company’s Upcoming Discovery One-on-One Investor Conference • GlobeNewswire Inc. • 11/30/2023 01:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 11/28/2023 10:16:51 PM
- Belite Bio to Participate in the BTIG Ophthalmology Day • GlobeNewswire Inc. • 11/20/2023 01:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 11/16/2023 09:41:05 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 11/16/2023 09:36:52 PM
- Belite Bio Reports Third Quarter 2023 Operational Highlights and Financial Results • GlobeNewswire Inc. • 11/14/2023 01:15:47 AM
- Deutsche Bank ADR Investor Conference: Presentations Now Available for Online Viewing • GlobeNewswire Inc. • 11/10/2023 01:35:00 PM
- Belite Bio to Host Webcast on November 14, 2023, to Discuss Third Quarter 2023 Financial Results • GlobeNewswire Inc. • 11/07/2023 01:00:00 PM
- Belite Bio, Inc. to present at the Deutsche Bank ADR Virtual Investor Conference on 8 November 2023 • GlobeNewswire Inc. • 11/06/2023 09:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 11/06/2023 01:00:06 PM
- Belite Bio Presents Results from a 24-month, Phase 2 Study of Tinlarebant in Childhood-onset Stargardt Disease at the AAO Annual Meeting • GlobeNewswire Inc. • 11/06/2023 01:00:00 PM
- International companies to host live webcasts at Deutsche Bank’s Depositary Receipts • GlobeNewswire Inc. • 11/01/2023 12:35:00 PM
- Belite Bio Announces Presentation at the American Academy of Ophthalmology 2023 Annual Meeting • GlobeNewswire Inc. • 10/27/2023 12:00:00 PM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 09/19/2023 04:08:43 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/31/2023 09:16:52 PM
VPR Brands LP Reports Record Annual Financial Performance for Fiscal Year 2023 • VPRB • Apr 19, 2024 11:24 AM
Coinllectibles' Subsidiary, Grand Town Development Limited, Acquires Rare Song Dynasty Ceramics Worth Over USD28million • COSG • Apr 18, 2024 8:03 AM
ILUS Provides Form 10-K Filing Update • ILUS • Apr 17, 2024 9:54 AM
Glucotrack Announces Expansion of Its Continuous Glucose Monitoring Technology to Epidural Glucose Monitoring • GCTK • Apr 17, 2024 8:00 AM
Maybacks Global Entertainment To Fire Up 24 New Stations in Louisiana • AHRO • Apr 16, 2024 1:30 PM
Cannabix Technologies Begins Certification of Contactless Alcohol Breathalyzer, Re-Brands product series to Breath Logix • BLOZF • Apr 16, 2024 8:52 AM