Belite Bio Inc (BLTE) Quote

BLTE will it break out

Short Interest for BLTE--Up 30%

https://www.etfdailynews.com/2022/09/17/short-interest-in-belite-bio-inc-nasdaqblte-expands-by-30-1/

BLTE News

https://seekingalpha.com/news/3875434-blte-stock-gains-as-pivotal-trial-for-lead-asset-starts-in-us

'Novel Approach For Retinal Disease Needs' Stock Belite Bio Has 70% Potential Upside According To This Analyst

Vandana Singh

Mon, August 1, 2022

HC Wainwright initiated coverage on Belite Bio Inc (NASDAQ: BLTE) with a Buy rating and price target of $58 per ADS.

Belite Bio is focused on developing a novel once-daily oral drug for the treatment of Stargardt disease (STGD1)—a rare inherited juvenile-onset form of macular degeneration.

The lead drug candidate is LBS-008 (or Tinlarebant).

HC Wainwright says that as LBS-008 is administered orally once a day, it could be adopted rapidly by ophthalmologists and patients once the drug obtains regulatory approval, as the intravitreal injection procedure was found unpleasant.

"We believe LBS-008 has the potential to be developed as the first and best-in-class oral drug for the treatment of STGD1," the analyst writes.

The analyst expects the Phase 2 portion to report 1-year data in 2H22.

Meanwhile, the company has initiated a Phase 3 trial of LBS-008 in adolescent STGD1 in 1H22, slated to enroll approximately 60 patients. Enrollment for Phase 3 trial to complete in mid-2023.

Belite Bio stock soars 65% in wake of strong IPO performance

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.

Great news

https://www.morningstar.com/news/dow-jones/202205038965/belite-bio-shares-jump-47-after-fast-track-designation-for-lbs-008-treatment-for-stargardt-disease