This press release contains forward-looking statements about future expectations and plans, as well as other statements regarding matters that are not historical facts. These statements include but are not limited to statements regarding the potential implications of clinical data for patients, and Belite Bio's advancement of, and anticipated preclinical activities, clinical development, regulatory milestones, and commercialization of its product candidates, and any other statements containing the words "expect", "hope", and similar expressions. Actual results may differ materially from those indicated in the forward-looking statements as a result of various important factors, including but not limited to Belite Bio's ability to demonstrate the safety and efficacy of its drug candidates; the clinical results for its drug candidates, which may not support further development or regulatory approval; the timing to complete relevant clinical trials and/or to receive the interim/final data of such clinical trials; the content and timing of decisions made by the relevant regulatory authorities regarding regulatory approval of Belite Bio's drug candidates; the potential efficacy of Tinlarebant, as well as those risks more fully discussed in the "Risk Factors" section in Belite Bio's filings with the U.S. Securities and Exchange Commission. All forward-looking statements are based on information currently available to Belite Bio, and Belite Bio undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

 
                             BELITE BIO, INC 
         UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS 
                          AND COMPREHENSIVE LOSS 
             (Amounts in thousands of US Dollars, except share 
                          and per share amounts) 
 
                    For the Three Months         For the Nine Months 
                     Ended September 30,         Ended September 30, 
                  -------------------------   ------------------------- 
                     2023          2024          2023          2024 
                  -----------   -----------   -----------   ----------- 
Expenses 
Research and 
 development            8,743         6,842        19,982        22,685 
General and 
 administrative         2,218         2,898         4,731         5,854 
                   ----------    ----------    ----------    ---------- 
Total operating 
 expenses              10,961         9,740        24,713        28,539 
                   ----------    ----------    ----------    ---------- 
Loss from 
 operations           (10,961)       (9,740)      (24,713)      (28,539) 
                   ----------    ----------    ----------    ---------- 
Other income: 
Total other 
 income, net               27         1,061            81         2,501 
                   ----------    ----------    ----------    ---------- 
Loss before 
 income tax           (10,934)       (8,679)      (24,632)      (26,038) 
Income tax 
 expense                    1             -            10             6 
                   ----------    ----------    ----------    ---------- 
Net loss              (10,935)       (8,679)      (24,642)      (26,044) 
                   ----------    ----------    ----------    ---------- 
Other 
comprehensive 
income (loss) 
Foreign currency 
 translation 
 adjustments, 
 net of nil tax           (55)           79          (115)          (27) 
                   ----------    ----------    ----------    ---------- 
Total 
 comprehensive 
 loss                 (10,990)       (8,600)      (24,757)      (26,071) 
                   ----------    ----------    ----------    ---------- 
Weighted 
average number 
of ordinary 
shares used in 
per share 
calculation: 
- Basic and 
 Diluted           27,315,550    30,687,305    26,013,012    30,231,207 
Net loss per 
ordinary share 
- Basic and 
 Diluted          $     (0.40)  $     (0.28)  $     (0.95)  $     (0.86) 
                   ----------    ----------    ----------    ---------- 
 
 
 
                           BELITE BIO, INC 
            UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS 
           (Amounts in thousands of US Dollars, except share 
                               amounts) 
 
                                       December 31,   September 30, 
                                           2023           2024 
                                       ------------  --------------- 
Current assets                         $     89,940   $      111,268 
Other assets                                  4,702            4,553 
                                        -----------      ----------- 
TOTAL ASSETS                           $     94,642   $      115,821 
                                        ===========      =========== 
 
TOTAL LIABILITIES                      $      4,211   $        3,621 
 
TOTAL SHAREHOLDERS' EQUITY                   90,431          112,200 
                                        -----------      ----------- 
 
TOTAL LIABILITIES AND SHAREHOLDERS' 
 EQUITY                                $     94,642   $      115,821 
                                        ===========      =========== 
 
Ordinary shares authorized              400,000,000      400,000,000 
Ordinary shares issued                   29,184,475       30,931,247 
Ordinary shares outstanding              29,149,444       30,879,332 
 
 

Media and Investor Relations Contact:

Jennifer Wu /ir@belitebio.com

Julie Fallon /belite@argotpartners.com

(END) Dow Jones Newswires

November 12, 2024 01:00 ET (06:00 GMT)