Belite Bio launches public offering of American depositary shares

Belite Bio Inc (NASDAQ: BLTE) announced it has commenced an underwritten public offering of American Depositary Shares, with each ADS representing one ordinary share of the clinical-stage drug development company.

The San Diego-based company will sell all securities in the offering and plans to grant underwriters a 30-day option to purchase additional ADSs at the public offering price, less underwriting discounts and commission. The offering remains subject to market conditions with no assurance regarding completion, timing, or final terms.

Belite Bio stated it intends to use net proceeds for commercialization preparation, including building an in-house commercialization team, establishing sales networks and systems, and preparing for commercial manufacture of future products if approved. Additional funds will support pipeline development and expansion, working capital, and general corporate purposes.

Morgan Stanley & Co. LLC, Leerink Partners, BofA Securities, and Cantor serve as joint active book-running managers for the offering.

The offering will be conducted through a prospectus supplement and accompanying prospectus included in Belite's registration statement on Form F-3ASR, which became effective on January 27, 2025.

Belite Bio focuses on developing therapeutics for degenerative retinal diseases including Stargardt disease type 1 and geographic atrophy in advanced dry age-related macular degeneration. The company's lead candidate, Tinlarebant, completed a Phase 3 trial in adolescent STGD1 subjects and is currently being evaluated in additional Phase 2/3 and Phase 3 trials.

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