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Belite Bio, Inc. (NASDAQ: BLTE) is a clinical-stage biopharmaceutical company based in San Diego, California. Specializing in the development of novel therapeutics for untreatable age-related metabolic and degenerative retinal diseases, Belite Bio targets conditions such as macular degeneration, liver disease, and diabetes.
The company's flagship product, lbs-008 (Tinlarebant), is developed using its proprietary anti-RBP4 technology platform. Tinlarebant is currently in a Phase I clinical trial for dry age-related macular degeneration (AMD) and its juvenile form, Stargardt disease (STGD1). Both diseases involve retinal degeneration that can lead to permanent blindness. Tinlarebant has been granted orphan drug status in the U.S. and Europe, as well as rare pediatric disease status in the U.S.
Recent Achievements:
- Completed Phase 2 trial of Tinlarebant in childhood-onset Stargardt Disease, demonstrating promising results in slowing retinal lesion growth and stabilizing visual acuity.
- Initiated Phase III trials for GA and Stargardt disease, with enrollment completed for the Stargardt trial.
- Received positive results and feedback during presentations at major ophthalmology conferences.
Belite Bio is currently conducting the DRAGON trial and the PHOENIX trial, targeting different stages of these degenerative diseases. The company remains focused on its mission to deliver novel, oral therapies for eye diseases with significant unmet medical needs. Financially, Belite Bio reported strong liquidity with $95.5 million in cash and U.S. Treasury bills as of March 31, 2024, following a successful $25 million registered direct offering in April 2024.
Looking ahead, the company plans to continue its clinical trials and further the development of its pipeline products, while maintaining a strong balance sheet. Investors should note the potential tax implications related to the company's classification under U.S. tax laws.
For more information, follow Belite Bio on Twitter, Instagram, LinkedIn, and Facebook, or visit their website at www.belitebio.com.
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