BofA Securities Starts Belite Bio, Inc, ADR (BLTE) at Buy

BofA Securities analyst Ebrahim Poonawala initiates coverage on Belite Bio, Inc, ADR (NASDAQ: BLTE) with a Buy rating and a price target of $195.00.

The analyst comments "We initiate coverage of Belite Bio (BLTE) with a Buy rating and $195 PO. BLTE is developing the potential first-approved therapy for Stargardt disease type 1 (STGD1), a rare genetic disease leading to loss in vison in children. BLTE’s tinlarebant is an oral, once-daily RPB4 antagonist that has produced positive phase 3 results supporting a filing for FDA approval in 1H26. Further, BLTE plans to submit for approval in the UK, EU, Japan, and China in 2H26. Tinlarebant is also being studied in the phase 1b/2/3 DRAGON II trial (~60 patients, including 10 in Japan) for STGD1 and the phase 3 PHOENIX trial for another eye disease (geographic atrophy: GA). We think tinlarebant for STGD1 represents a significant commercial opportunity given the high unmet need."

For an analyst ratings summary and ratings history on Belite Bio, Inc, ADR click here. For more ratings news on Belite Bio, Inc, ADR click here.

Shares of Belite Bio, Inc, ADR closed at $164.58 yesterday.

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