Belite Bio, Inc. ADR, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Yi Chen from H.C. Wainwright reiterated a Buy rating on the stock and has a $100.00 price target.
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Yi Chen has given his Buy rating due to a combination of factors related to Belite Bio, Inc.’s promising clinical trials and potential regulatory advancements. The company’s Phase 3 DRAGON trial for tinlarebant in treating adolescent Stargardt disease is progressing well, with completion expected in the fourth quarter of 2025. The FDA has already granted Breakthrough Therapy designation based on interim data, indicating strong efficacy and safety results, which could lead to accelerated approval if the final data is robust.
Additionally, the DRAGON II trial in Japan and the global PHOENIX trial are advancing, with the latter having completed enrollment of 500 subjects. These trials aim to further establish tinlarebant’s efficacy and safety, potentially supporting regulatory submissions in multiple regions. The unique oral administration of tinlarebant and its focus on earlier stages of dry AMD differentiate it from other treatments, enhancing its market potential. These factors collectively support Yi Chen’s optimistic outlook and Buy rating for Belite Bio, Inc.