Overview

* Belite Bio ( BLTE ) completed enrollment in Phase 3 PHOENIX trial for geographic atrophy

* Co raised $15 mln in registered direct offering, strengthening financial position

* Tinlarebant granted Breakthrough Therapy Designation for Stargardt disease by FDA

Outlook

* Belite expects DRAGON trial completion by Q4 2025

* Company plans to submit DRAGON trial data for drug approval

* Belite expects interim analysis for PHOENIX trial

* Company advancing Tinlarebant towards key clinical milestones

Result Drivers

* BREAKTHROUGH DESIGNATION - Tinlarebant received Breakthrough Therapy Designation for Stargardt disease, highlighting its potential as a first-ever treatment, per CEO Dr. Tom Lin

* G&A EXPENSES - Increased spending primarily due to higher share-based compensation expenses

* R&D - Higher pass-through expenses related to the PHOENIX trial and manufacturing expenses payments, partially offset by lower DRAGON trial expenses

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Net -$16.32

Income mln

Q2 -$17.60

Income mln

From

Operatio

ns

Q2 $17.60

Operatin mln

g

Expenses

Q2 -$16.32

Pretax mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the biotechnology & medical research peer group is "buy"

* Wall Street's median 12-month price target for Belite Bio Inc ( BLTE ) is $92.50, about 24.5% above its August 8 closing price of $69.88

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)