Belite Bio, Inc. ADR ( (BLTE) ) has released its Q4 earnings. Here is a breakdown of the information Belite Bio, Inc. ADR presented to its investors.
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Belite Bio, Inc. ADR is a clinical-stage biopharmaceutical company focused on developing novel therapeutics for degenerative retinal diseases, including Stargardt disease type 1 (STGD1) and Geographic Atrophy (GA) in advanced dry age-related macular degeneration (AMD).
In its latest earnings report, Belite Bio announced significant progress in its clinical trials, particularly the Phase 3 DRAGON trial for STGD1, which received a positive recommendation from the Data Safety Monitoring Board to proceed without modifications. The company also raised $15 million through a registered direct offering, bolstering its financial position.
Key financial metrics from 2024 show an increase in research and development expenses to $29.9 million, driven by milestone achievements in the PHOENIX trial and share-based compensation. The company reported a net loss of $36.1 million for the year, slightly higher than the previous year, but maintained a strong cash position with $31.7 million and $113.5 million in investments.
Looking ahead, Belite Bio remains optimistic about its ongoing trials and financial health, with expectations to complete the DRAGON trial by the end of 2025. The company’s strategic focus on advancing Tinlarebant as a treatment for retinal diseases positions it well for future growth.