Belite Bio Q2 net loss widens on higher expenses
BLTE•FDA review and trial data
The company said the FDA accepted its NDA for tinlarebant with Priority Review for Stargardt disease.
Belite Bio also reported positive secondary endpoint data from its Phase 3 DRAGON trial of tinlarebant.
Q2 loss widens as expenses rise
Belite Bio said its second-quarter net loss widened as research and development and selling, general and administrative expenses increased.
The US retinal disease drug developer reported:
| Metric | Actual |
|---|---|
| Q2 net loss | $28.41 mln |
| Q2 income from operations | -$34.91 mln |
| Q2 operating expenses | $34.91 mln |
| Q2 pretax loss | $28.36 mln |
Higher R&D and SG&A drove results
- R&D expenses — Higher R&D expenses were mainly due to a royalty payment for a milestone achieved under the license agreement, increased manufacturing costs, and consultant fees.
- SG&A expenses — SG&A expenses increased due to team expansion and higher professional service fees.
- Interest income — Other income rose due to higher interest earned on bank deposits and U.S. Treasury securities.
