- Belite Bio up on 'fast track' tag for eye disease drug

Belite Bio

03/05/2022 18:05

** Drug developer's shares  BLTE.O  rise ~44% to $12.70
    ** Co says U.S. FDA has granted 'fast track' designation to
its experimental drug, LBS-008, for treatment of Stargardt
disease, a rare genetic eye disorder  urn:newsml:reuters.com:*:nGNX4zJlwY
    ** Decision was based on FDA's review of non-clinical data
and preliminary clinical data from studies of LBS-008 - BLTE
    ** About 30,000 patients in the U.S. suffer from Stargardt
disease; there are currently no approved treatments
    ** LBS-008 is also being developed as a treatment option for
another eye disorder called atrophic Age-related Macular
Degeneration
    ** Stock up ~20% since April IPO

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))