Belite Bio, Inc

NASDAQ•BLTE

CEO: Dr. Yu-Hsin Lin M.B.A., Ph.D.

Sector: Healthcare

Industry: Biotechnology

Listing Date: 2022-04-29

Belite Bio, Inc, a clinical stage biopharmaceutical drug development company, engages in the research and development of novel therapeutics targeting retinal degenerative eye diseases with unmet medical needs in the United States. The company's lead product candidate is LBS-008 (Tinlarebant), an orally administered once-a-day tablet for maintaining the health and integrity of retinal tissues in autosomal recessive Stargardt disease and geographic atrophy patients. It is also developing LBS-009, an anti-retinol binding protein 4 oral therapy that is in the preclinical development phase targeting liver disease, including non-alcoholic fatty liver disease, nonalcoholic steatohepatitis, and type 2 diabetes. Belite Bio, Inc was founded in 2016 and is based in San Diego, California. Belite Bio, Inc is a subsidiary of Lin Bioscience International Ltd.

Contact Information

12750 High Bluff Drive, Suite 475, San Diego, CA, 92130, United States

858-246-6240

www.belitebio.com

Market Cap

$5.50B

P/E (TTM)

-60.6

Dividend Yield

52W High

$200.00

52W Low

$56.10

52W Range

56%

Rank53Top 76.1%

2.8

F-Score

Modified Piotroski Analysis

Based on 5-year fundamentals

Weak • 2.8 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2021-2025

Financial Dashboard

Q1 2026 Data

Revenue

$0.00+0.00%

4-Quarter Trend

EPS

-$0.68+0.00%

4-Quarter Trend

FCF

$0.00+0.00%

4-Quarter Trend

2024 Annual Earnings Highlights

Key Highlights

Tinlarebant Phase 3 Trials Active Phase 3 STGD1 (DRAGON) enrollment complete; GA (PHOENIX) trial commenced, enrolling 406 subjects.

Net Loss Increased 14.3% Net loss reached US$36.14M in 2024, reflecting a 14.3% increase from US$31.63M reported in 2023.

R&D Expenses Grew 20.5% Research and development expenses rose 20.5% to US$29.94M, representing 74.9% of total operating expenses.

Cash Reserves Significantly Reduced Cash reserves decreased substantially to US$31.68M by December 31, 2024, following US$110.57M in investing activities.

Risk Factors

Lead Candidate Success Critical Business highly dependent on Tinlarebant success for development, approval, and ultimate commercialization efforts.

Need Additional Financing Expect substantial expense increases; requires substantial additional financing to fund ongoing operations and development pipeline.

Limited Operating History Limited operating history and zero revenue from commercialized pharmaceutical products make viability assessment uncertain.

Evolving Regulatory Landscape Regulatory approval processes across FDA, EMA, and NMPA are time-consuming and subject to evolving legal requirements.

Outlook

Advance Key Clinical Programs Focus remains on advancing Tinlarebant through Phase 3 trials for STGD1 (DRAGON) and GA (PHOENIX) indications.

Expect Increased Operating Costs Anticipate substantial increases in operating losses and expenses to support ongoing clinical trials and public company compliance.

Pipeline Expansion Efforts Seek to identify and license additional product candidates and technologies to diversify and expand the drug portfolio.

No Near-Term Dividend Payouts Expect to retain all available funds and future earnings to finance ongoing research and development activities.

Peer Comparison

Revenue (TTM)

ACAD

$1.10B

+9.9%

FOLD

$634.21M

+20.0%

CPRX

$596.96M

+11.7%

Gross Margin (Latest Quarter)

BEAM

100.0%

-471.3pp

IBRX

99.5%

-12.9pp

SLNO

98.7%

+0.0pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
IBRX	$7.56B	-8.7	138.7%	173.9%
PRAX	$7.26B	-30.4	-43.0%	0.1%
CDTX	$5.61B	-18.6	-60.1%	0.4%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

N/M

Revenue Volatile

4Q Net Income CAGR

N/M

Profitability Shift

Cash Flow Stability

Cash Flow Needs Attention

Deep Research

Next earnings:Aug 10, 2026

EPS:-$0.74

Revenue:-

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data