Belite Bio Announces Proposed Underwritten Public Offering of American Depositary Shares

Core Viewpoint - Belite Bio, Inc has initiated an underwritten public offering of American Depositary Shares (ADSs) to support its commercialization and development efforts in the field of degenerative retinal diseases [1][2] Group 1: Offering Details - The public offering consists of ADSs, each representing one ordinary share, with all securities being sold by Belite Bio [1] - The company plans to grant underwriters a 30-day option to purchase additional ADSs at the public offering price, subject to market conditions [1] - The offering is contingent on market conditions, and there is no assurance regarding its completion or the actual size and terms [1] Group 2: Use of Proceeds - Net proceeds from the offering will be allocated for commercialization preparation, including building an in-house commercialization team and establishing sales networks [2] - Funds will also be used for the development and expansion of the company's pipelines [2] - Additional proceeds will support working capital and other general corporate purposes [2] Group 3: Company Overview - Belite Bio is focused on developing novel therapeutics for degenerative retinal diseases with significant unmet medical needs, such as Stargardt disease type 1 and geographic atrophy in advanced dry age-related macular degeneration [6] - The lead candidate, Tinlarebant, is an oral therapy aimed at reducing the accumulation of bisretinoid toxins in the eye and has completed a Phase 3 trial in adolescent STGD1 subjects [6] - The company is currently evaluating Tinlarebant in a Phase 2/3 trial and a Phase 3 trial for different indications [6]