Belite Bio's (BLTE) revenue estimates for tinlarebant to treat Stargardt disease type 1 have multiple drivers of upside, given expectations of a US launch as early as March 2027 and commercial opportunity in STGD1, Mizuho said in a Friday note.
Mizuho said it is now more confident in the tinlarebant opportunity, citing patient testimonials and perspectives from key opinion leaders on the drug's potential in treating STGD1 at the recent virtual commercial day.
The company forecast a higher-than-expected STDG1 disease population at around 53,000 in the US, and does not expect genetic testing access to be a hurdle in the patient journey, according to the note.
On potential pricing, payers appear supportive, with a consensus ceiling around $500,000 before triggering medical exceptions, compred with Mizuho's $350,000, the analysts wrote.
Mizuho reiterated its outperform rating on the stock, with a price target of $220.
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