Belite Bio, Inc. ADR ( (BLTE) ) has released its Q2 earnings. Here is a breakdown of the information Belite Bio, Inc. ADR presented to its investors.
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Belite Bio, Inc. is a clinical-stage drug development company specializing in novel therapeutics for degenerative retinal diseases, with a focus on addressing significant unmet medical needs in the biotechnology sector.
In its second quarter of 2025 financial results, Belite Bio announced key developments, including the FDA granting Breakthrough Therapy Designation for its lead candidate, Tinlarebant, for Stargardt disease. The company also completed enrollment in its pivotal Phase 3 PHOENIX trial for geographic atrophy and raised approximately $15 million through a direct offering.
Key financial metrics revealed an increase in research and development expenses, rising to $11 million for the quarter, primarily due to higher costs associated with the PHOENIX trial. General and administrative expenses also surged to $6.5 million, attributed to increased share-based compensation. The company reported a net loss of $16.3 million for the quarter, compared to $9.5 million in the same period the previous year.
Strategically, Belite Bio is advancing its Tinlarebant trials, with the DRAGON trial expected to complete by the end of 2025. The company is also conducting the DRAGON II trial in Japan to support future drug applications. The PHOENIX trial has completed enrollment, setting the stage for interim analysis.
Looking ahead, Belite Bio remains focused on achieving clinical and regulatory milestones for Tinlarebant, with ongoing trials poised to potentially deliver significant advancements in treating degenerative retinal diseases.