Belite Bio surges after eye drug meets main goal in late-stage study

Shares of drug developer Belite Bio BLTE.O rise 17.9% to $162 premarket

Stock on track to open at record highs, if gains hold

Co's genetic eye disease drug meets main goal in late-stage study

The drug, tinlarebant, targets a progressive eye disease causing vision loss in childhood or adolescence

The eye condition has no FDA-approved treatment currently

Co says its drug slows the growth of damaging lesions in the retina

BLTE plans to seek U.S. regulatory approval for the drug in the first half of 2026

As of last close, BLTE stock has more than doubled YTD