Belite Bio, Inc, a clinical-stage biopharmaceutical drug development company, engages in the research and development of novel therapeutics targeting atrophic age-related macular degeneration and autosomal recessive stargardt diseases. Its lead product candidate is LBS-008, an oral once-a-day treatment that can reduce and maintain the delivery of vitamin A to the eye to reduce the accumulation of toxic vitamin A by-products in ocular tissue that is in phase 3 clinical trial. The company is also developing LBS-009, an anti-retinol binding protein 4 oral therapy targeting liver disease, including non-alcoholic fatty liver disease, nonalcoholic steatohepatitis, and type 2 diabetes, which is in the preclinical development phase. Belite Bio, Inc was founded in 2016 and is based in San Diego, California. Belite Bio, Inc operates as a subsidiary of Lin Bioscience International Ltd.
IPO Year: 2022
Exchange: NASDAQ
Website: https://belitebio.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/14/2023 | $60.00 | Buy | Maxim Group |
| 7/28/2023 | $43.00 | Overweight | Cantor Fitzgerald |
| 7/26/2023 | $25.00 | Outperform | SVB Securities |
| 8/1/2022 | $58.00 | Buy | H.C. Wainwright |
Maxim Group initiated coverage of Belite Bio with a rating of Buy and set a new price target of $60.00
Cantor Fitzgerald initiated coverage of Belite Bio with a rating of Overweight and set a new price target of $43.00
SVB Securities initiated coverage of Belite Bio with a rating of Outperform and set a new price target of $25.00
H.C. Wainwright initiated coverage of Belite Bio with a rating of Buy and set a new price target of $58.00
Cantor Fitzgerald analyst Jennifer Kim reiterates Belite Bio (NASDAQ:BLTE) with a Overweight.
HC Wainwright & Co. analyst Yi Chen reiterates Belite Bio (NASDAQ:BLTE) with a Buy and maintains $59 price target.
Benchmark analyst Bruce Jackson reiterates Belite Bio (NASDAQ:BLTE) with a Buy and maintains $57 price target.
HC Wainwright & Co. analyst Yi Chen reiterates Belite Bio (NASDAQ:BLTE) with a Buy and maintains $59 price target.
Cantor Fitzgerald analyst Jennifer Kim reiterates Belite Bio (NASDAQ:BLTE) with a Overweight.
Belite Bio (NASDAQ:BLTE) reported quarterly losses of $(0.27) per share which beat the analyst consensus estimate of $(0.28) by 3.57 percent. This is a 18.18 percent increase over losses of $(0.33) per share from the same period last year.As of March 31, 2024, the Company had $95.5 million in cash and U.S treasury bills.
Additional analysis of visual acuity loss, genotypic profiles, and retinal imaging data from a 24-month Phase 2 trial of Tinlarebant in adolescent Stargardt disease patients provides further support for the potential of Tinlarebant to slow and potentially halt lesion growth In 5 of 12 subjects (42%) with known pathogenic ABCA4 mutations, no incident atrophic (DDAF) lesions were formed during the 24-month treatment period and no change in QDAF was observedA novel lesion size quantification method that can better detect atrophic lesions revealed 8 of 12 subjects with atrophic lesion involvement within the macula at baseline; growth of these lesions into the macula was halted during the second
Belite Bio entered into a securities purchase agreement with an institutional investor, for the purchase and sale of up to an aggregate of 651,380 American Depositary Shares of the Company ("ADSs"), each ADS representing one ordinary share of the Company at a purchase price of $38.38 per ADS, and the warrants to purchase up to an aggregate of 651,380 ADSs, which will have an initial exercise price equal to $44.14 per ADS and will be immediately exercisable and expire on the five-year anniversary of the issuance, in a registered direct offering. The closing of the offering is expected to occur on or about April 30, 2024, subject to the satisfaction of customary closing conditions.
HC Wainwright & Co. analyst Yi Chen maintains Belite Bio (NASDAQ:BLTE) with a Buy and maintains $59 price target.
Dosed first patient in Phase 2/3 DRAGON II trial of Tinlarebant for the treatment of Stargardt disease (STGD1)Pivotal global Phase 3 PHOENIX trial of Tinlarebant in geographic atrophy (GA) subjects is ongoing with more than 280 subjects enrolledAppointed Hendrik P.N. Scholl, MD, MA, a globally recognized leader in the field of ophthalmology and the coordinating principal investigator of the largest natural history study of Stargardt disease, as Chief Medical OfficerInterim analysis from the pivotal global Phase 3 DRAGON trial of Tinlarebant in adolescent STGD1 subjects anticipated by end of 2024 or early 2025Company to host webcast on Tuesday, November 12, 2024, at 4:30 p.m. EST SAN DIEGO,
Completed enrollment in pivotal Phase 3 "DRAGON" trial for Tinlarebant in adolescent Stargardt disease ("STGD1") with 104 subjects enrolled across 11 countries worldwideFirst subject dosed with Tinlarebant in pivotal global Phase 3 "PHOENIX" trial in Geographic Atrophy ("GA")Oral, once-daily Tinlarebant continues to be safe and well tolerated, slowing expansion of autofluorescence, reducing incident atrophic retinal lesion growth rate, and stabilizing visual acuity up to 24-months in Phase 2 STGD1 trial ("LBS-008-CT02")Interim Phase 3 safety and efficacy data from pivotal "DRAGON" trial expected in 2H 2024Conference Call and Webcast Tuesday, November 14, 2023, at 4:30 p.m. ET
In 18-month interim data from ongoing 2-year, Phase 2 Stargardt disease ("STGD1") trial ("LBS-008-CT02"), we continued to observe that oral Tinlarebant is safe and well tolerated in adolescent STGD1 subjectsA continued trend of slowing expansion of autofluorescence was observed and the growth rate of incident atrophic retinal lesions was reduced with Tinlarebant in LBS-008-CT02 compared to a natural history study of the disease ("ProgStar")Stabilization of visual acuity with no significant loss and no clinically significant changes in retinal thickness observed over 18 months of treatment with Tinlarebant in LBS-008-CT0258 subjects have been enrolled in the pivotal Phase 3 "DRAGON" trial eva
SAN DIEGO, Aug. 01, 2022 (GLOBE NEWSWIRE) -- Belite Bio, Inc (NASDAQ:BLTE), a San Diego based clinical stage biopharmaceutical drug development company targeting untreatable eye diseases, will host a conference call on Thursday, August 11, 2022, at 4:30 p.m. Eastern time to discuss the Company's financial results for the first half, ended June 30, 2022, and provide a corporate progress update. The financial results will be issued in a press release on Wednesday, August 10, 2022. Belite Bio, Inc First Half 2022 Financial Result Conference Call Information: Date:Thursday, August 11, 2022Time:4:30 p.m. Eastern time (1:30 p.m. Pacific time)Webcast Link:https://edge.media-server.com/mmc/p/d
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Dr. Scholl is a globally recognized leader in the field of ophthalmology and the coordinating principal investigator of the largest ever natural history study of Stargardt disease SAN DIEGO, Sept. 01, 2024 (GLOBE NEWSWIRE) -- Belite Bio, Inc (NASDAQ:BLTE) ("Belite Bio" or the "Company"), a clinical-stage biopharmaceutical drug development company focused on advancing novel therapeutics targeting degenerative retinal diseases that have significant unmet medical needs, today announced that its board of directors has appointed Hendrik P. N. Scholl, MD, MA, as the Chief Medical Officer of the Company, effective immediately. Dr. Scholl is the foremost globally recognized authority on Stargar
Dosed first patient in Phase 2/3 DRAGON II trial of Tinlarebant for the treatment of Stargardt disease (STGD1)Pivotal global Phase 3 PHOENIX trial of Tinlarebant in geographic atrophy (GA) subjects is ongoing with more than 280 subjects enrolledAppointed Hendrik P.N. Scholl, MD, MA, a globally recognized leader in the field of ophthalmology and the coordinating principal investigator of the largest natural history study of Stargardt disease, as Chief Medical OfficerInterim analysis from the pivotal global Phase 3 DRAGON trial of Tinlarebant in adolescent STGD1 subjects anticipated by end of 2024 or early 2025Company to host webcast on Tuesday, November 12, 2024, at 4:30 p.m. EST SAN DIEGO,
SAN DIEGO, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Belite Bio, Inc (NASDAQ:BLTE), a clinical-stage biopharmaceutical drug development company focused on advancing novel therapeutics targeting degenerative retinal diseases that have significant unmet medical needs, today announced that it will host a webcast on Tuesday, November 12, 2024, at 4:30 p.m. Eastern Time to discuss the Company's financial results and provide a business update for the third quarter ended September 30, 2024. Webcast InformationDate: Tuesday, November 12, 2024 Time: 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time)Webcast Link: https://wsw.com/webcast/cc/blte5/1423080 Webcast Link InstructionsYou can join the live webcast
SAN DIEGO, Nov. 03, 2024 (GLOBE NEWSWIRE) -- Belite Bio, Inc (NASDAQ:BLTE) ("Belite Bio" or the "Company"), a clinical-stage biopharmaceutical drug development company focused on advancing novel therapeutics targeting degenerative retinal diseases that have significant unmet medical needs, today announces the entry into a definitive agreement for the immediate exercise of certain outstanding warrants to purchase up to an aggregate of 651,380 ordinary shares of the Company originally issued in April 2024, at an exercise price of US$44.14 per share. The gross proceeds to the Company from the exercise of the warrants are expected to be approximately US$28.75 million. The Company intends to us
SAN DIEGO, Oct. 14, 2024 (GLOBE NEWSWIRE) -- Belite Bio, Inc (NASDAQ:BLTE) ("Belite" or the "Company"), a clinical-stage biopharmaceutical drug development company focused on advancing novel therapeutics targeting degenerative retinal diseases that have significant unmet medical needs, today announced that the Company will present data from its completed Phase II adolescent Stargardt disease trial at the American Academy of Ophthalmology Annual Meeting (AAO 2024) being held October 18-21, 2024, in Chicago, IL. Podium Presentation: Title: Tinlarebant (LBS-008) for Adolescents with Stargardt DiseasePresentation Type: Late breaking developments (live broadcast)Presenting Author: Quan D
SAN DIEGO, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Belite Bio, Inc. (NASDAQ:BLTE), a clinical-stage biopharmaceutical drug development company focused on advancing novel therapeutics targeting degenerative retinal diseases that have significant unmet medical needs, today announced that Hendrik P.N. Scholl, MD, MA, Chief Medical Officer of Belite Bio, will participate in the "Ocular Drug Development" panel discussion at the Maxim Group 2024 Healthcare Virtual Summit on Tuesday, October 15, 2024 at 11:00 am ET. The live panel discussion can be accessed on Maxim's M-Vest website. For more information and to sign up, please visit: https://m-vest.com/events/healthcare-10152024. About Belite Bio Bel
NEW YORK, Sept. 17, 2024 (GLOBE NEWSWIRE) -- Deutsche Bank today announced the lineup for its Depositary Receipts Virtual Investor Conference ("dbVIC") on Tuesday, September 24 and Wednesday, September 25, featuring live webcast presentations from international companies with American Depositary Receipt (ADR) programs in the US. Representatives from participating companies based in China, France, Hong Kong, Netherlands, Philippines, Portugal, Spain, Switzerland, and the United Kingdom will respond to questions during formal presentations. The conference is targeted to all categories of investors and analysts interested in international companies. There is no fee for participants to log i
Phase 2/3 of the DRAGON II trial will evaluate the efficacy, safety, and tolerability of Tinlarebant in approximately 60 adolescent STGD1 subjects across the U.S., U.K., and JapanPhase 1b of DRAGON II trial to evaluate pharmacokinetics and pharmacodynamics of Tinlarebant in Japanese subjects was recently completedTinlarebant granted Orphan Drug and Sakigake (Pioneer Drug) Designation in Japan for the treatment of STGD1Pivotal global Phase 3 trial of Tinlarebant in GA subjects ("PHOENIX") is ongoing and more than 200 subjects have been enrolled SAN DIEGO, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Belite Bio, Inc (NASDAQ:BLTE) ("Belite" or the "Company"), a clinical-stage biopharmaceutical drug de
SAN DIEGO, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Belite Bio, Inc. (NASDAQ:BLTE), a clinical-stage biopharmaceutical drug development company focused on advancing novel therapeutics targeting degenerative retinal diseases that have significant unmet medical needs, today announced that the executive management team will participate in three upcoming investor conferences. Details for the presentations are as follows: H.C. Wainwright 26th Annual Global Investment Conference (New York, New York) September 9, 2024, at 9:30 am ET, fireside chat 2024 Cantor Global Healthcare Conference (New York, New York) September 18, 2024, at 3:40 pm ET, corporate presentation Deutsche Bank Depositary Receipts Vi
Dr. Scholl is a globally recognized leader in the field of ophthalmology and the coordinating principal investigator of the largest ever natural history study of Stargardt disease SAN DIEGO, Sept. 01, 2024 (GLOBE NEWSWIRE) -- Belite Bio, Inc (NASDAQ:BLTE) ("Belite Bio" or the "Company"), a clinical-stage biopharmaceutical drug development company focused on advancing novel therapeutics targeting degenerative retinal diseases that have significant unmet medical needs, today announced that its board of directors has appointed Hendrik P. N. Scholl, MD, MA, as the Chief Medical Officer of the Company, effective immediately. Dr. Scholl is the foremost globally recognized authority on Stargar
Tinlarebant, a novel oral therapy, is intended to slow disease progression in patients affected with Stargardt Disease (STGD1) and Geographic Atrophy (GA) in advanced Dry Age-related Macular Degeneration (Dry AMD)Phase 1b & 2/3 ("DRAGON II") trial of Tinlarebant in adolescent STGD1 patients has been initiated and have completed enrollment for Phase 1b with six subjects in JapanTinlarebant granted Orphan Drug and Sakigake (Pioneer Drug) Designation in Japan for the treatment of STGD1Pivotal global Phase 3 trial of Tinlarebant in GA subjects ("PHOENIX") is ongoing and approximately 200 subjects have been enrolledData from a 24-month Phase 2 trial in adolescents with STGD1 showed a sustained, l