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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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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