Belite Bio (NASDAQ: BLTE) has priced an underwritten public offering of 2,272,727 American Depositary Shares at $154.00 per ADS, with a 30-day option for underwriters to purchase up to 340,909 additional ADSs. Gross proceeds are expected to total about $350 million before fees. The Company plans to use net proceeds for commercialization preparation, pipeline development, and general corporate purposes. Morgan Stanley & Co. LLC, Leerink Partners, BofA Securities and Cantor are serving as joint active book-running managers, with H.C. Wainwright & Co. as lead manager and Maxim Group LLC and Titan Partners Group as co-managers.
To view the full press release, visit https://ibn.fm/utfbg
About Belite Bio
Belite Bio is a clinical-stage drug development company focused on advancing novel therapeutics targeting degenerative retinal diseases that have significant unmet medical need, such as Stargardt disease type 1 (STGD1) and geographic atrophy (GA) in advanced dry age-related macular degeneration (AMD) in advanced dry AMD, in addition to specific metabolic diseases. Belite’s lead candidate, Tinlarebant, an oral therapy intended to reduce the accumulation of bisretinoid toxins in the eye, has completed a Phase 3 trial (DRAGON) in adolescent STGD1 subjects and is currently being evaluated in a Phase 2/3 trial (DRAGON II) in adolescent STGD1 subjects and a Phase 3 trial (PHOENIX) in subjects with GA.
More information about the company can be found at https://belitebio.com/
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