Belite Bio, Inc (BLTE)
Belite Bio, Inc, a clinical stage biopharmaceutical drug development company, engages in the research and development of novel therapeutics with unmet medical needs in the United States. Its lead product candidate is Tinlarebant (LBS-008), an orally administered, which is in phase 3 clinical trial as an early intervention for maintaining the health and integrity of retinal tissues in stargardt disease type 1 and geographic atrophy patients. The company also develops LBS-009, an retinol binding protein 4 oral therapy, which is in preclinical development targeting liver disease, including non-alcoholic fatty liver disease, nonalcoholic steatohepatitis, and type 2 diabetes, as well as gout. Belite Bio, Inc was founded in 2016 and is based in San Diego, California. Belite Bio, Inc operates as a subsidiary of Lin Bioscience International Ltd.
- Symbol
- BLTE
- Exchange
- Nasdaq
- Sector
- Healthcare
- Industry
- Biotechnology
- Market cap
- $6.64B
- 52 week range
- 68.21 - 200
Valuation
- Share price
- $168.67 (close of 2026-09-23)
- P/E (TTM)
- -73.02x
- Price to book
- 8.61x
- Price to free cash flow
- -179.05x
- Enterprise value
- $6.28B
- Book value per share
- $19.59
Price performance
| Period | Change |
|---|
| 1 day | -2.73% |
| 5 days | -0.45% |
| 1 month | +4.72% |
| 3 months | +16.25% |
| 6 months | +11.60% |
| Year to date | +5.45% |
| 1 year | +137.40% |
| 3 years | +435.46% |
| All time | +1492.73% |
Profitability and growth
- Return on equity
- -10.07%
- Return on invested capital
- -20.15%
- Return on assets
- -9.94%
- Return on capital employed
- -10.93%
- Net income growth
- -114.73%
- Free cash flow growth
- -26.27%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- -0.56%
- Current ratio
- 50.02x
- Net debt to EBITDA
- 4.57x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- EBITDA
- $-84.04M
- Net income
- $-77.61M
- Earnings per share
- $-2.31
- Research and development
- $45.38M
- Shares outstanding
- 33.54M
Income statement by year
| Period end | Net income | EPS |
|---|
| 2025-12-31 | $-77.61M | $-2.31 |
| 2024-12-31 | $-36.14M | $-1.18 |
| 2023-12-31 | $-31.63M | $-1.19 |
| 2022-12-31 | $-12.65M | $-0.63 |
| 2021-12-31 | $-9.67M | $-1.01 |
| 2020-12-31 | $-5.75M | $-0.65 |
Margins and returns by year
| Period end | Return on equity | Return on capital |
|---|
| 2025-12-31 | -10.07% | -20.15% |
| 2024-12-31 | -24.79% | -34.88% |
| 2023-12-31 | -34.98% | -1002.15% |
| 2022-12-31 | -30.48% | -4611.87% |
| 2021-12-31 | 64.04% | - |
| 2020-12-31 | 81.75% | - |
Cash and debt by year
| Period end | Cash |
|---|
| 2025-12-31 | $352.93M |
| 2024-12-31 | $31.68M |
| 2023-12-31 | $88.16M |
| 2022-12-31 | $42.09M |
| 2021-12-31 | $17.34M |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $-37.06M | $38.92M |
| 2024-12-31 | $-29.35M | $8.99M |
| 2023-12-31 | $-29.90M | $3.82M |
| 2022-12-31 | $-11.85M | $1.48M |
| 2021-12-31 | $-7.55M | $1.53M |
| 2020-12-31 | $-4.44M | $1.36M |
Investor relations
Next earnings report
- Next confirmed report
- 2026-11-09
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-08-13 | Jun/2026 | - |
| 2026-05-20 | - | - |
| 2026-03-02 | - | - |
| 2025-11-10 | - | - |
| 2025-08-11 | - | - |
| 2025-05-13 | - | - |
| 2025-03-17 | - | - |
| 2024-11-12 | - | - |
Filings and sources
- Company website
- belitebio.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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