Belite Bio reported a GAAP net loss of 25324000 for Q4 2025, driven by higher R&D and G&A expenses associated with clinical trials and share-based compensation, while strengthening its balance sheet with significant cash and investments following a public offering.

Belite Bio's Q3 2025 saw expanded R&D and administrative costs contribute to a wider net loss, while the company bolstered its cash position through strategic funding rounds to support ongoing clinical trials and regulatory initiatives.

Belite Bio reported a net loss of $16.3 million for Q2 2025, an increase from $9.5 million in Q2 2024, primarily due to higher research and development and general and administrative expenses. The company also announced the completion of enrollment in its pivotal Phase 3 PHOENIX trial and received Breakthrough Therapy Designation for Tinlarebant for Stargardt disease.

Belite Bio experienced a significant increase in net loss and operating expenses in Q1 2025 compared to Q1 2024, primarily due to higher research and development and general and administrative expenses. Despite the financial results, the company made progress in its clinical trials, with the DRAGON trial proceeding without modification and the PHOENIX trial continuing enrollment.

Belite Bio's Q4 2024 net loss widened to $10.1 million due to increased R&D expenses related to its clinical trials. The company did not generate revenue, as it remains in the development stage. Cash and investments totaled $145.2 million, providing runway for ongoing trials. The pivotal Phase 3 DRAGON trial continues as planned, with completion expected in Q4 2025.