US Bio Company CEO and CFO Simultaneously Sell $3 Billion in Shares

On April 9, Lin Yu-Hsin, CEO of U.S. clinical-stage biotech company Belite Bio, Inc. (NASDAQ: BLTE), and Hao-Yuan Chuang, its CFO, each sold several thousand American Depositary Shares on the open market under pre-established Rule 10b5-1 trading plans. The CEO realized about $1.67 million (approximately KRW 2 billion), while the CFO cashed out roughly $1.13 million (mid-KRW 1 billion); both executives still retain tens of thousands of shares, according to the company’s disclosure.

In the same period, H.C. Wainwright reiterated its Buy rating and $200 price target on the stock, noting that, based on positive Phase 3 results for the lead late-stage ophthalmology candidate tinalelevant, Belite plans to file a new drug application (NDA) with the U.S. FDA this quarter. Mizuho likewise maintained its Outperform rating and $223 target, projecting that tinalelevant could submit for approval in Q2 2026 and launch in the U.S. in early 2027.

Belite Bio is a Nasdaq-listed clinical-stage biopharma company targeting retinal degenerative eye diseases with few effective treatments, including Stargardt disease, a hereditary retinal disorder, and geographic atrophy, the advanced form of age-related macular degeneration. Its oral lead candidate, tinalelevant, has received Breakthrough Therapy, Rare Pediatric Disease, Fast Track and Orphan Drug designations in the U.S. for Stargardt disease and is currently in multiple late-stage clinical trials.