- HC Wainwright initiated coverage on Belite Bio Inc (NASDAQ:BLTE) 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).
- Related: Belite Bio Seeks FDA Clearance For Late-Stage Genetic Eye Disease Study.
- 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.
- Price Action: BLTE shares are up 0.46% at $33.76 during the market session on the last check Monday.
Urban Edge Properties Raises FY23 Outlook: AFFO $1.14 – $1.18 ($1.11 – $1.17 Prior) Vs. $1.16 Estimate
2023 Earnings Guidance
The Company is reiterating its updated 2023 full-year guidance ranges provided for FFO and FFO as Adjusted in our recent release on April 18th, 2023, estimating FFO of $1.13 to $1.17 per diluted
