Belite Bio Advances Clinical Trials Amid Financial Challenges

Belite Bio, Inc. ADR ( (BLTE) ) has released its Q1 earnings. Here is a breakdown of the information Belite Bio, Inc. ADR presented to its investors.

Belite Bio, Inc. ADR is a clinical-stage biopharmaceutical company focused on developing novel therapeutics for degenerative retinal diseases, such as Stargardt disease type 1 (STGD1) and Geographic Atrophy (GA), as well as specific metabolic diseases.

In its first quarter of 2025, Belite Bio reported significant progress in its clinical trials, particularly with its lead candidate, Tinlarebant. The company announced a favorable interim analysis for its Phase 3 DRAGON trial in adolescent STGD1 patients, with recommendations to proceed without modifications, and is on track for trial completion by the end of 2025.

Key financial highlights include a net loss of $14.3 million for the quarter, up from $7.9 million in the same period last year, driven by increased research and development expenses and general administrative costs. The company raised $15 million in a direct offering and reported total assets of $164.2 million as of March 31, 2025.

Strategically, Belite Bio is advancing its global Phase 3 PHOENIX trial for GA patients, with 464 of the targeted 500 subjects enrolled. The company is also conducting the DRAGON II trial, which includes a Phase 1b and a Phase 2/3 study in Japanese adolescent STGD1 patients.

Looking ahead, Belite Bio remains focused on executing its late-stage clinical programs and aims to deliver new treatment options for degenerative retinal diseases, addressing significant unmet medical needs.