Nasdaq · Biotech stocks database

BLTE — Belite Bio Inc

BLTE (Belite Bio Inc) stock: $154.19, $6.21B market cap, $352.9M cash, $5.86B EV, $7.36B fully diluted market cap. Lead program: Tinlarebant (Geographic Atrophy), Phase 3. Data from Fully Diluted's biotech stocks database.

What they do

Our product candidates may cause serious adverse, undesirable or unacceptable side effects or have other properties that could delay or prevent their regulatory approval, limit the commercial profile of an approved label, and/or result in significant negative consequences following regulatory approval, if any.

Source: 20-F FY2025 via SEC EDGAR

Share price

$154.19

Market cap

$6,209.6M

Cash

$352.9M

Enterprise value

$5,856.7M

Balance sheet

Cash	$352.9M
Debt	$0.0M
Net cash	$352.9M
Enterprise value	$5,856.7M
Basic shares	40.3M shares
Fully diluted shares	47.7M shares
Fully diluted market cap	$7,361.5M
Cash per share	$8.76
Quarterly burn	$9.2M
Cash runway	38.2 quarters

Cash figures as of 2025-12-31. Database snapshot: 2026-11-07.

Share structure

Common

40.3M

Pre-funded warrants

0.0M

Options

5.5M

RSUs

0.2M

Warrants

1.9M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

0.0M

FDSO

47.7M

Cap table as of 2026-06-30.

Price history

Loading BLTE daily closes…

Loading price history…

Next catalyst

tinlarebant · Feb 12, 2027 · guided in 14 wks

Recently reported

Tinlarebant Phase 3 Positive · 2026-09-28

stgd1, stargardt disease 1

Source release →

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDFeb 12, 2027 in 14 wks	tinlarebant NDA PDUFA for Stargardt disease type 1	Not disclosed	Stargardt disease type 1	February 12, 2027
GUIDEDEst. Feb 14, 2027 in 8 wks quarter midpoint	tinlarebant PHOENIX Phase 3 interim analysis in geographic atrophy	Phase 3	geographic atrophy	Q1 2027
Aug 11 - Sep 22 in 9 mo	Tinlarebant	Phase 3	Geographic Atrophy	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Lead drug	Tinlarebant
Lead indication	Geographic Atrophy
Lead phase	Phase 3
Active trials	2

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT05949593	Phase 3	Active, not recruiting	Sponsor	BLTE	—	Geographic Atrophy	Q1 2027 Est. Mar 31, 2027 · PCD + 6 wks (Mar 31-Mar 31)
NCT06388083	Phase 3	Active, not recruiting	Sponsor	BLTE	—	STGD1; Stargardt Disease 1	—

Sponsor-matched active trials from ClinicalTrials.gov (2 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 2 active trials for Belite Bio, Inc on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
RTW Investments	715,332	no change	0.94%	2026-08-14
Deerfield Management	357,199	+53,186	0.57%	2026-08-14
Logos Global Management	250,000	+250,000	1.66%	2026-08-14
OrbiMed Advisors	13,300	+13,300	0.04%	2026-08-14
ADAR1 Capital Management	0	-26,880	0.00%	2026-08-14
Perceptive Advisors	0	-151,979	0.00%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Get the weekly biotech catalyst rundown.
Cash runways, financings, and trial readouts for all 721 stocks.

Subscribe to Compounding Ego

BLTE — Belite Bio Inc

What they do

Balance sheet

Share structure

Price history

Next catalyst

Recently reported

Upcoming catalysts

Pipeline

Active clinical trials

Specialist fund holders

Latest news

BLTE — Belite Bio Inc ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Recently reported

Upcoming catalysts

Pipeline

Active clinical trials

Specialist fund holders

Latest news

BLTE — Belite Bio Inc