Overview

• US retinal drug developer posts bigger than expected Q1 GAAP loss per share

• Net loss widened yr/yr as operating expenses rose on R&D and commercialization costs

Result Drivers

• R&D SPENDING - Higher research and development expenses driven by DRAGON II trial costs, manufacturing expenses, and consultant fees

• COMMERCIALIZATION PREPARATION - Selling, general and administrative expenses rose due to share-based compensation, professional service fees, and expanded team for commercialization

• INTEREST INCOME - Other income increased mainly from interest on bank deposits and U.S. treasury bills and notes

Company press release: ID:nGNXsFQPg

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Belite Bio Inc is $200.50, about 43.5% above its May 19 closing price of $139.70

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