Belite Bio (BLTE) IPO More than Doubles on Open

Today's IPO for Belite Bio, Inc (NASDAQ: 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.

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