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Promising Clinical Trials and Strategic Developments Justify Buy Rating for Belite Bio

Promising Clinical Trials and Strategic Developments Justify Buy Rating for Belite Bio

Analyst Yi Chen from H.C. Wainwright reiterated a Buy rating on Belite Bio, Inc. ADR (BLTEResearch Report) and keeping the price target at $100.00.

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Yi Chen has given his Buy rating due to a combination of factors including the promising progress of Belite Bio’s clinical trials and the potential market impact of their lead drug candidate, tinlarebant. The company’s Phase 3 DRAGON trial for Stargardt disease has shown positive interim results, with the Data Safety Monitoring Board recommending the trial proceed without modifications, indicating sufficient efficacy and safety. This progress suggests a strong potential for regulatory approval, which could significantly enhance the company’s market position.
Furthermore, the ongoing DRAGON II and PHOENIX trials are advancing well, with the former focusing on adolescent patients in multiple countries and the latter targeting geographic atrophy. The global reach and comprehensive nature of these trials, along with the favorable dosing regimen of tinlarebant, position Belite Bio to capture a substantial share of the market. These strategic developments underpin Yi Chen’s confidence in the company’s growth prospects, justifying the Buy rating and a price target of $100.

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