BUZZ-Belite Bio climbs as BofA starts coverage with 'buy' rating

Reuters01-26 23:23
BUZZ-<a href="https://laohu8.com/S/BLTE">Belite Bio</a> climbs as BofA starts coverage with 'buy' rating

** Shares of drug developer Belite Bio BLTE.O rise 5.5% to $173.58

** Brokerage BofA Global Research initiates stock with "buy" rating and sets PT at $195

** BLTE is developing an oral, once-daily drug tinlarebant, which "could be the first therapy" approved for Stargardt disease type 1, a rare genetic disease causing vision loss in children, BofA says

** Tinlarebant slowed the disease by cutting lesion growth by about 36% over two years compared with placebo in a late-stage trial, and it was generally safe with only mild eye-related side effects

** Brokerage says experts expect tinlarebant to be widely used in mild‑to‑moderate patients, around 70–80% of them, because there are no approved treatments for the condition

** BofA estimates tinlarebant to generate about $3.4  bln in peak sales for STGD1 by 2037, assuming an annual price of roughly $350,000

** However, brokerage notes the FDA could request more data from a second trial, delaying launch, but they think this is unlikely due to high unmet need

** BLTE gained 138% in 2025

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))

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