Why Is Belite Bio Stock Soaring Friday?

Belite Bio Inc. (NASDAQ: BLTE ) drew a bullish initiation from Canaccord Genuity , which sees significant upside tied to the potential launch of its lead eye-disease drug, tinlarebant . Canaccord analyst Whitney Ijem initiated coverage with a Buy rating and a $303 price forecast. That compares with Belite Bio’s September 3 closing price of $171.09 .

U.S. Approval And Revenue Projections The U.S. Food and Drug Administration (FDA) accepted the marketing application submission. It granted Priority Review to tinlarebant for Stargardt disease type 1 (STGD1), with an assigned PDUFA target action date of February 12, 2027 . Citing physician feedback, analyst Whitney Ijem highlights strong enthusiasm given the high unmet need, oral dosing, and favorable tolerability. Ijem models a 2027 U.S. launch and around $6 billion in U.S. 2033 sales.