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Belite Bio, Inc, a clinical stage biopharmaceutical drug development company, engages in the research and development of novel therapeutics targeting retinal degenerative eye diseases with unmet medical needs in the United States. Its lead product candidate is Tinlarebant (LBS-008), an orally administered, which is in phase 3 clinical trial as an early intervention for maintaining the health and integrity of retinal tissues in stargardt disease type 1 and geographic atrophy patients. The company also develops LBS-009, an anti-retinol-binding protein 4 oral therapy, which is in preclinical development targeting liver disease, including non-alcoholic fatty liver disease, nonalcoholic steatohepatitis, and type 2 diabetes, as well as gout. Belite Bio, Inc was founded in 2016 and is based in San Diego, California. Belite Bio, Inc is a subsidiary of Lin Bioscience International Ltd.
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Belite Bio Inc. is a small, publicly listed biopharmaceutical company with limited recent public disclosures that appears positioned on developing treatments for rare and metabolic disorders. Long-term growth drivers may include clinical progress in orphan indications, regulatory incentives for rare-disease therapies, and partnering or licensing outcomes that could support commercialization. Investors may find potential upside if development programs advance because orphan indications often have clearer regulatory pathways and premium pricing dynamics.
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| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | -77.61M | -36.14M | -31.62M | -12.65M | -9.67M |
| Net income | -77.61M | -36.14M | -31.63M | -12.47M | -9.79M |
| Selling general administrative | 38.83M | 10.06M | 6.82M | 3.95M | 2.38M |
| Selling and marketing expenses | - | - | 0.40M | - | - |
| Gross profit | - | -0.45M | -0.40M | - | - |
| Reconciled depreciation | 0.46M | 0.45M | 0.40M | 0.20M | 0.03M |
| Ebit | - | -36.12M | -31.60M | -12.82M | -9.80M |
| Ebitda | -84.21M | -35.67M | -31.20M | -12.43M | -9.64M |
| Depreciation and amortization | - | 0.45M | 0.40M | 0.39M | 0.16M |
| Operating income | -84.21M | -40.00M | -31.67M | -12.82M | -9.80M |
| Other operating expenses | 84.21M | 40.00M | 31.67M | 12.82M | 9.80M |
| Interest expense | 0.00M | 0.02M | 0.03M | 0.02M | 0.01M |
| Tax provision | 0.00M | 0.01M | 0.01M | 0.00M | 0.00M |
| Interest income | 6.64M | 3.74M | 0.07M | 0.02M | 0.01M |
| Net interest income | 6.64M | 3.72M | 0.05M | 0.01M | 0.01M |
| Income tax expense | - | 0.01M | 0.01M | -0.17M | 0.13M |
| Total revenue | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Total operating expenses | 84.21M | 40.00M | 31.67M | 12.82M | 9.80M |
| Cost of revenue | - | 0.45M | 0.40M | - | - |
| Total other income expense net | 6.60M | 3.86M | 0.04M | 0.17M | 0.13M |
| Net income from continuing ops | -77.61M | -36.14M | -31.63M | -12.65M | -9.67M |
| Net income applicable to common shares | - | - | - | - | -9.67M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 780.56M | 152.13M | 94.64M | 44.27M | 18.35M |
| Intangible assets | 4.92M | 3.99M | 3.23M | - | - |
| Other current assets | 1.13M | 1.33M | 0.92M | 0.72M | 0.06M |
| Total liab | 10.07M | 6.31M | 4.21M | 2.77M | 33.44M |
| Total stockholder equity | 770.49M | 145.82M | 90.43M | 41.50M | -15.09M |
| Deferred long term liab | - | - | - | - | 0.81M |
| Other current liab | 9.64M | 5.77M | 3.33M | 1.91M | 1.64M |
| Common stock | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Capital stock | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Retained earnings | -185.26M | -107.65M | -71.50M | -39.87M | -27.22M |
| Other assets | - | - | 0.00M | - | 0.82M |
| Cash | 352.93M | 31.68M | 88.16M | 42.09M | 17.34M |
| Total current liabilities | 9.88M | 6.05M | 3.63M | 2.10M | 1.64M |
| Net debt | -352.50M | -31.14M | -87.27M | -41.22M | -17.34M |
| Short term debt | 0.24M | 0.28M | 0.31M | 0.20M | - |
| Short long term debt total | 0.43M | 0.54M | 0.89M | 0.87M | - |
| Other stockholder equity | 956.28M | 254.12M | 162.31M | 81.76M | 12.32M |
| Property plant equipment | - | - | - | - | 0.09M |
| Total current assets | 494.27M | 147.07M | 89.94M | 42.81M | 17.43M |
| Long term investments | 280.17M | 0.00M | - | - | - |
| Net tangible assets | - | - | - | - | -15.09M |
| Short term investments | 139.49M | 113.47M | - | - | - |
| Net receivables | 0.72M | 0.59M | 0.87M | 0.02M | 0.02M |
| Inventory | - | - | - | -0.02M | - |
| Accumulated other comprehensive income | -0.54M | -0.66M | -0.37M | -0.39M | -0.20M |
| Non currrent assets other | 0.42M | 0.10M | 0.17M | 0.09M | 0.82M |
| Non current assets total | 286.28M | 5.06M | 4.70M | 1.47M | 0.92M |
| Capital lease obligations | 0.43M | 0.54M | 0.89M | 0.87M | - |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | -304.93M | -110.57M | -0.06M | -0.39M | -0.06M |
| Change to liabilities | - | - | - | - | 0.04M |
| Total cashflows from investing activities | -305.11M | -110.57M | -0.06M | - | -0.06M |
| Total cash from financing activities | 663.23M | 83.59M | 75.96M | 36.96M | -0.58M |
| Change to operating activities | - | - | - | - | 0.59M |
| Net income | -77.61M | -36.14M | -31.63M | -12.65M | -9.67M |
| Change in cash | 321.25M | -56.48M | 46.07M | 24.75M | -8.27M |
| Begin period cash flow | 31.68M | 88.16M | 42.09M | 17.34M | 25.62M |
| End period cash flow | 352.93M | 31.68M | 88.16M | 42.09M | 17.34M |
| Total cash from operating activities | -36.99M | -29.23M | -29.84M | -11.46M | -7.47M |
| Issuance of capital stock | 182.02M | 42.24M | 55.19M | 0.00M | 0.00M |
| Depreciation | 0.46M | 0.45M | 0.40M | 0.20M | 0.03M |
| Other cashflows from investing activities | - | -0.04M | - | - | - |
| Change to account receivables | -0.07M | 0.07M | -0.07M | - | - |
| Other cashflows from financing activities | 370.37M | 41.36M | -1.23M | 36.96M | -0.58M |
| Change to netincome | - | - | - | - | 1.52M |
| Capital expenditures | 0.18M | 0.15M | 0.06M | 0.39M | 0.07M |
| Change in working capital | 2.55M | 1.13M | -2.43M | -0.49M | 0.64M |
| Stock based compensation | 38.92M | 8.99M | 3.82M | 1.48M | 1.53M |
| Other non cash items | -1.31M | -3.66M | 4.69M | - | -0.01M |
| Free cash flow | -37.17M | -29.39M | -29.90M | -11.85M | -7.55M |
Sector: Healthcare Industry: Biotechnology
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|
| BLTE Belite Bio Inc ADR |
-1.50 0.98% |
152.17 | - | 227.27 | - | 8.57 | -35.61 |
| NVO Novo Nordisk A/S |
-0.24 0.61% |
40.20 | 41.58 | 31.15 | 2.13 | 32.99 | 4.70 |
| VRTX Vertex Pharmaceuticals Inc |
-21.28 3.85% |
531.87 | 30.22 | 24.27 | 10.36 | 6.50 | 24.66 |
| REGN Regeneron Pharmaceuticals Inc |
12.10 1.26% |
973.36 | 29.07 | 20.12 | 7.57 | 3.82 | 19.42 |
| ARGNF argenx SE |
- -% |
900.30 | 45.77 | 31.25 | 13.84 | 7.12 | 36.06 |
Belite Bio, Inc, a clinical stage biopharmaceutical drug development company, engages in the research and development of novel therapeutics targeting retinal degenerative eye diseases with unmet medical needs in the United States. Its lead product candidate is Tinlarebant (LBS-008), an orally administered, which is in phase 3 clinical trial as an early intervention for maintaining the health and integrity of retinal tissues in stargardt disease type 1 and geographic atrophy patients. The company also develops LBS-009, an anti-retinol-binding protein 4 oral therapy, which is in preclinical development targeting liver disease, including non-alcoholic fatty liver disease, nonalcoholic steatohepatitis, and type 2 diabetes, as well as gout. Belite Bio, Inc was founded in 2016 and is based in San Diego, California. Belite Bio, Inc is a subsidiary of Lin Bioscience International Ltd.
12750 High Bluff Drive, San Diego, CA, United States, 92130
858 246 6240
41
| Name | Title | Year Born |
|---|---|---|
| Dr. Yu-Hsin Lin M.B.A., Ph.D. | Chairman of Directors & CEO | 1978 |
| Mr. Hao-Yuan Chuang C.F.A., F.R.M., M.B.A. | CFO & Director | 1984 |
| Dr. Nathan L. Mata Ph.D. | Chief Scientific Officer | 1966 |
| Ms. Ching-Chen Chiu M.Sc. | VP of Clinical Operations | 1970 |
| Dr. Yu-Hsin Lin M.B.A., Ph.D. | Chairman of the Board of Directors & CEO | 1979 |
| Mr. Hao-Yuan Chuang C.F.A., F.R.M., M.B.A. | CFO & Director | 1985 |
| Dr. Nathan L. Mata Ph.D. | Chief Scientific Officer | 1967 |
| Dr. Hendrik P.N. Scholl M.A., M.D., Ph.D. | Chief Medical Officer & Member of Ophthalmology Clinical Advisory Board | NA |
| Dr. Yu-Hsin Lin M.B.A., Ph.D. | Chairman of the Board of Directors & CEO | 1978 |
| Dr. Hendrik P.N. Scholl M.A., M.D., Ph.D. | Chief Medical Officer | 1969 |
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