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FAQ: Belite Bio's $350 Million Public Offering and Company Overview
TL;DR
Belite Bio's $350 million public offering provides capital to accelerate commercialization and pipeline development, potentially creating investment opportunities in retinal disease treatments.
Belite Bio priced 2,272,727 ADS at $154 each, with underwriters having a 30-day option for additional shares, generating approximately $350 million in gross proceeds.
This funding supports Belite Bio's development of treatments for degenerative retinal diseases, potentially improving vision and quality of life for patients with unmet medical needs.
Belite Bio's lead candidate Tinlarebant aims to reduce toxic eye accumulations and is currently in Phase 3 trials for Stargardt disease and geographic atrophy.
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Belite Bio has priced an underwritten public offering of 2,272,727 American Depositary Shares at $154.00 per ADS, with gross proceeds 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.
Belite Bio is a clinical-stage drug development company focused on advancing novel therapeutics targeting degenerative retinal diseases with significant unmet medical need, such as Stargardt disease type 1 and geographic atrophy in advanced dry age-related macular degeneration.
Tinlarebant is Belite's lead candidate, an oral therapy intended to reduce the accumulation of bisretinoid toxins in the eye. It 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.
Underwriters have a 30-day option to purchase up to 340,909 additional ADSs beyond the initial 2,272,727 shares being offered.
More information about the company can be found at https://belitebio.com/ and the full press release is available at https://ibn.fm/utfbg.
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Curated from InvestorBrandNetwork (IBN)
