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)
Comments