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BELITE BIO, INC
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Last updated Oct 16, 2026.
Overview
-$77.6MNet income, fiscal 20252
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Financial statements
No quarterly figures reported.
Every line of the income statement in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Research and development | $45.4M | $29.9M | $24.8M |
| Selling, general and administrative | $38.8M | $10.1M | $6.8M |
| Total operating expenses | $84.2M | $40.0M | $31.7M |
| Loss from operations | -$84.2M | -$40.0M | -$31.7M |
| Interest income | $6.6M | $3.7M | $74.0K |
| Interest expense | -$2.0K | -$20.0K | -$25.0K |
| Other income (expense) | -$41.0K | $141.0K | -$4.0K |
| Total other income, net | $6.6M | $3.9M | $45.0K |
| Loss before income tax | -$77.6M | -$36.1M | -$31.6M |
| Income tax expense | $0 | $6.0K | $9.0K |
| Net loss | -$77.6M | -$36.1M | -$31.6M |
| Foreign currency translation adjustments, net of nil tax | $124.0K | -$286.0K | $18.0K |
| Total comprehensive loss | -$77.5M | -$36.4M | -$31.6M |
| Basic (in shares) | 33.5M shares | 30.5M shares | 26.6M shares |
| Diluted (in shares) | 33.5M shares | 30.5M shares | 26.6M shares |
| Basic (in dollar per share) | -$2.31 | -$1.18 | -$1.19 |
| Diluted (in dollar per share) | -$2.31 | -$1.18 | -$1.19 |
| Foreign currency translation adjustments tax | $0 | $0 | $0 |
No quarterly figures reported.
Every line of the balance sheet in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $352.9M | $31.7M | |
| Available-for-sale investments | $4.5M | ||
| Held-to-maturity investments | $139.5M | $108.9M | |
| Other receivables | $700.0K | $575.0K | |
| Prepayments and other current assets | $1.1M | $1.3M | |
| Total current assets | $494.3M | $147.1M | |
| Held-to-maturity debt securities | $280.2M | ||
| Property and equipment, net | $344.0K | $444.0K | |
| Intangible assets | $19.0K | $31.0K | |
| Prepayments and other non-current assets | $5.1M | $4.0M | |
| Security deposits | $253.0K | $103.0K | |
| Operating lease right-of-use asset | $433.0K | $521.0K | |
| Total non-current assets | $286.3M | $5.1M | |
| TOTAL ASSETS | $780.6M | $152.1M | |
| Accrued expenses and other liabilities | $9.6M | $5.8M | |
| Other payables to related parties | $5.0K | $13.0K | |
| Operating lease liabilities - current | $241.0K | $276.0K | |
| Total current liabilities | $9.9M | $6.0M | |
| Operating lease liabilities - non-current | $188.0K | $261.0K | |
| Total non-current liabilities | $188.0K | $261.0K | |
| TOTAL LIABILITIES | $10.1M | $6.3M | |
| Ordinary shares, par value of US$0.0001 per share; 400,000,000 shares authorized; 31,857,802 and 39,353,365 shares issued; and 31,826,549 and 39,339,960 shares outstanding as of December 31, 2024 and 2025, respectively | $4.0K | $3.0K | |
| Additional paid-in capital | $956.3M | $254.1M | |
| Accumulated other comprehensive loss | -$536.0K | -$660.0K | |
| Accumulated deficit | -$185.3M | -$107.6M | |
| Total shareholders' equity | $770.5M | $145.8M | $90.4M |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $780.6M | $152.1M | |
| Ordinary shares, par value | $0.00 | $0.00 | |
| Ordinary shares, shares authorized | 400.0M shares | 400.0M shares | |
| Ordinary shares, shares issued | 39.4M shares | 31.9M shares | |
| Ordinary shares, shares outstanding | 39.3M shares | 31.8M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$77.6M | -$36.1M | -$31.6M |
| Depreciation | $172.0K | $164.0K | $139.0K |
| Non-cash lease expense | $280.0K | $281.0K | $260.0K |
| Amortization of intangible assets | $12.0K | $4.0K | |
| Share-based compensation expense | $38.9M | $9.0M | $3.8M |
| Interest income from investments | -$1.3M | -$3.6M | |
| Fair value change on investments | -$49.0K | ||
| Gains on operating lease modification | -$33.0K | ||
| Other receivables | -$66.0K | $56.0K | -$56.0K |
| Other receivables due from related parties | $18.0K | -$16.0K | |
| Prepayments and other assets | -$768.0K | -$1.1M | -$3.5M |
| Other payables due to related parties | -$8.0K | $13.0K | |
| Accrued expenses and other liabilities | $3.8M | $2.5M | $1.4M |
| Security deposits | -$150.0K | -$16.0K | |
| Operating lease liabilities | -$301.0K | -$305.0K | -$244.0K |
| Net cash used in operating activities | -$37.0M | -$29.2M | -$29.8M |
| Acquisition of property and equipment | -$71.0K | -$116.0K | -$63.0K |
| Acquisition of intangible assets | -$35.0K | ||
| Acquisition of available-for-sale investments | -$4.5M | ||
| Proceeds from maturities of available-for-sale investments | $4.5M | ||
| Acquisition of held-to-maturity investments | -$452.0M | -$183.8M | |
| Proceeds from maturities of held-to-maturity investments | $142.6M | $77.8M | |
| Prepayments for property and equipment | -$107.0K | ||
| Net cash used in investing activities | -$305.1M | -$110.6M | -$63.0K |
| Proceeds from exercise of warrants | $103.0M | $39.0M | $21.7M |
| Proceeds from exercise of share options | $7.8M | $2.8M | $349.0K |
| Net cash provided by financing activities | $663.2M | $83.6M | $76.0M |
| Effects of exchange rate on cash and cash equivalent | $117.0K | -$269.0K | $9.0K |
| NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENT | $321.3M | -$56.5M | $46.1M |
| Interest paid | $1.0K | ||
| Cash paid for income tax | $6.0K | $9.0K | |
| Follow-on offering underwriting discounts reclassed to additional paid-in-capital | $1.8M | ||
| ATM offering sales commissions reclassed to additional paid-in-capital | $896.0K | $509.0K | $858.0K |
| ATM proceeds not yet received in cash as other receivable | $762.0K | ||
| Right-of-use assets obtained in exchange of lease liabilities | $529.0K | $388.0K | $265.0K |
| Right-of-use assets in exchange of lease liabilities from an operating lease modification | $361.0K | $385.0K | |
| Non-cash warrants exercise | 1.5M shares | 1.4M shares | 1.2M shares |
Recent filings
- Oct 5, 20264
- Oct 1, 2026144
- Sep 9, 20264
- Sep 9, 20264
- Sep 8, 20266-K
- Aug 14, 20264
- Aug 14, 20264
- Aug 13, 20266-K
- Aug 12, 2026144
- Aug 12, 2026144
- Aug 11, 20266-K
- Jun 22, 20264
- Jun 18, 2026144
- Jun 17, 20264
- Jun 16, 2026144
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARBELITE BIO, INC filings on SEC EDGAR
- 2SEC EDGARBELITE BIO, INC 10-K for fiscal 2025
- 3SEC EDGARBELITE BIO, INC filings on SEC EDGAR
- 4SEC EDGARBELITE BIO, INC 10-K for fiscal 2020
- 5SEC EDGARBELITE BIO, INC 10-K for fiscal 2021
- 6SEC EDGARBELITE BIO, INC 10-K for fiscal 2022