Belite Bio started at Buy by Wainwright

 

• HC Wainwright initiated coverage on Belite Bio Inc 
  BLTE+0.03%+ Free Alerts
   with a Buy rating and price target of $58 per ADS.
• Belite Bio is focused on developing a novel once-daily oral drug for the treatment of Stargardt disease (STGD1)—a rare inherited juvenile-onset form of macular degeneration.
• The lead drug candidate is LBS-008 (or Tinlarebant).
• HC Wainwright says that as LBS-008 is administered orally once a day, it could be adopted rapidly by ophthalmologists and patients once the drug obtains regulatory approval, as the intravitreal injection procedure was found unpleasant.
• "We believe LBS-008 has the potential to be developed as the first and best-in-class oral drug for the treatment of STGD1," the analyst writes.
• The analyst expects the Phase 2 portion to report 1-year data in 2H22. 
• Meanwhile, the company has initiated a Phase 3 trial of LBS-008 in adolescent STGD1 in 1H22, slated to enroll approximately 60 patients. Enrollment for Phase 3 trial to complete in mid-2023. 

https://www.benzinga.com/analyst-ratings/analyst-color/22/08/28295301/hc-wainwright-initiates-on-this-novel-approach-for-retinal-disease-needs