Belite Bio prices $350 million public offering at $154 per share

Belite Bio Inc (NASDAQ: BLTE) priced an underwritten public offering of 2,272,727 American Depositary Shares at $154.00 per ADS, the company announced December 1. Each ADS represents one ordinary share of the clinical-stage drug development company.

The offering includes a 30-day option for underwriters to purchase up to 340,909 additional ADSs at the same price, less underwriting discounts and commissions. Gross proceeds are expected to reach approximately $350.0 million before deducting underwriting costs and offering expenses.

The closing is expected to occur on or about December 3, 2025, subject to customary closing conditions. All securities in the offering are being sold by Belite Bio.

The company 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 are serving as joint active book-running managers. H.C. Wainwright & Co. is acting as lead manager, while Maxim Group LLC and Titan Partners Group are co-managers.

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 in additional Phase 2/3 and Phase 3 trials.

The offering is being conducted pursuant to a registration statement on Form F-3ASR that became effective January 27, 2025.

You May Also Be Interested In

• Canaccord Starts Belite Bio, Inc, ADR (BLTE) at Buy
• Lianhe Sowell closes $11M follow-on public offering on Nasdaq
• Micromem plans private placement to raise up to CAD $160,000