Belite Bio Prices $350 Million Public Offering to Fund Retinal Disease Therapeutics

Belite Bio, Inc. (NASDAQ: BLTE) has priced an underwritten public offering of 2,272,727 American Depositary Shares at $154.00 per ADS, with gross proceeds expected to total approximately $350 million before fees. The company has granted underwriters a 30-day option to purchase up to 340,909 additional ADSs. This capital raise represents a significant financial milestone for the clinical-stage biopharmaceutical company as it advances its pipeline of novel therapeutics for degenerative retinal diseases.

The net proceeds from this offering are earmarked for several strategic initiatives, including commercialization preparation, pipeline development, and general corporate purposes. This funding comes at a critical juncture for Belite Bio, which is developing treatments for conditions with significant unmet medical needs, particularly Stargardt disease type 1 (STGD1) and geographic atrophy (GA) in advanced dry age-related macular degeneration. The company's lead candidate, Tinlarebant, has completed a Phase 3 trial in adolescent STGD1 subjects and is currently being evaluated in additional clinical studies.

Morgan Stanley & Co. LLC, Leerink Partners, BofA Securities, and Cantor are serving as joint active book-running managers for the offering, with H.C. Wainwright & Co. acting as lead manager and Maxim Group LLC and Titan Partners Group as co-managers. The involvement of these established financial institutions underscores the market's confidence in Belite Bio's therapeutic approach and development strategy. The offering's pricing and structure reflect careful market positioning amid current biotech investment trends.

This capital infusion will enable Belite Bio to accelerate its clinical programs and prepare for potential commercialization of its lead asset. Tinlarebant represents an oral therapy designed to reduce the accumulation of bisretinoid toxins in the eye, addressing the underlying pathology of both STGD1 and GA. The company is currently evaluating Tinlarebant in a Phase 2/3 trial (DRAGON II) in adolescent STGD1 subjects and a Phase 3 trial (PHOENIX) in subjects with GA. More information about the company's research and development efforts can be found at https://belitebio.com/.

The successful pricing of this offering demonstrates investor confidence in Belite Bio's scientific approach and development pipeline. For retinal disease patients who currently lack effective treatment options, this financial milestone represents progress toward potentially transformative therapies. The company's focus on degenerative retinal conditions addresses a growing healthcare need as populations age worldwide, making this funding development particularly significant for both investors and patients awaiting new treatment modalities.