Belite Bio Announces $350 Million Public Offering to Advance Retinal Disease Therapies

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 underwriting discounts and commissions. The offering includes a 30-day option for underwriters to purchase up to 340,909 additional ADSs. The company plans to allocate net proceeds toward commercialization preparation, pipeline development, and general corporate purposes.

This capital raise represents a significant financial milestone for Belite Bio, a clinical-stage drug development company focused on addressing degenerative retinal diseases with substantial unmet medical needs. The company's therapeutic pipeline targets conditions including Stargardt disease type 1 (STGD1) and geographic atrophy (GA) in advanced dry age-related macular degeneration (AMD). These progressive eye disorders currently lack approved treatments that can halt or reverse vision loss, affecting millions of patients worldwide.

Belite Bio's lead candidate, Tinlarebant, is an oral therapy designed to reduce the accumulation of bisretinoid toxins in the eye. The drug has completed a Phase 3 trial (DRAGON) in adolescent STGD1 subjects and is currently being evaluated in a Phase 2/3 trial (DRAGON II) for adolescent STGD1 subjects and a Phase 3 trial (PHOENIX) for subjects with GA. The substantial funding from this offering could accelerate the development timeline for these critical therapies.

The offering's joint active book-running managers include Morgan Stanley & Co. LLC, Leerink Partners, BofA Securities, and Cantor, with H.C. Wainwright & Co. serving as lead manager and Maxim Group LLC and Titan Partners Group as co-managers. This consortium of financial institutions suggests strong institutional confidence in Belite Bio's therapeutic approach and market potential.

For investors and industry observers, this capital infusion signals Belite Bio's transition toward potential commercialization while continuing to advance its clinical pipeline. The funding could enable the company to expand manufacturing capabilities, build commercial infrastructure, and potentially accelerate regulatory submissions if clinical trials yield positive results. More information about the company's research and development programs can be found at https://belitebio.com/.

The retinal disease therapeutics market represents a growing sector within ophthalmology, with geographic atrophy alone affecting approximately five million people globally. Successful development of effective treatments could transform patient care standards and create substantial economic value. Belite Bio's focus on oral administration distinguishes its approach from many competing therapies that require invasive delivery methods.

This financing round occurs amid increasing investor interest in biotechnology companies addressing chronic degenerative conditions. The substantial $350 million offering size reflects both the capital-intensive nature of late-stage clinical development and the potential market opportunity for successful retinal disease therapies. As Belite Bio advances its clinical programs, this funding provides crucial resources to navigate the complex regulatory pathway toward potential market approval.