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Dec 31, 2024
Belite Bio Q4 2024 Earnings Report
Belite Bio reported increased research and development expenses and a higher net loss in Q4 2024.
Key Takeaways
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.
Belite Bio reported a Q4 2024 net loss of $10.1 million, compared to $7.0 million in Q4 2023.
R&D expenses increased to $7.3 million, up from $4.9 million in Q4 2023, due to trial progress.
The company raised $15 million in a direct offering to support clinical development.
Cash and investments totaled $145.2 million, ensuring funding for ongoing trials.
Belite Bio
Belite Bio
Forward Guidance
Belite Bio remains focused on advancing its clinical pipeline, with completion of key trials expected in late 2025.
Positive Outlook
- Phase 3 DRAGON trial remains on track with no modifications recommended.
- Enrollment in the PHOENIX trial for geographic atrophy increased to 406 subjects.
- Sufficient cash and investments to fund operations through key milestones.
- Potential additional $15 million in proceeds from warrant exercises.
- Continued regulatory engagement for Tinlarebant’s approval pathway.
Challenges Ahead
- No revenue generation as the company remains in the development stage.
- R&D expenses continue to rise with trial progress, increasing cash burn.
- Dependence on external funding to support long-term operations.
- Regulatory uncertainties in securing approvals across global markets.
- Potential delays in clinical trial completion due to enrollment challenges.