Company: BLTE
Filing Date: 2025-10-22
Form Type: F-3ASR
Source: 0001104659-25-101403
Chunk: 22

Company: BELITE BIO, INC
Filing Date: 2025-10-22
Form: F-3ASR
Chunk 22
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 volatile and you could lose all or part of your investment.

The market price of the ADSs has been and may continue to be highly volatile and could be subject to large fluctuations in response to the risk factors discussed in this section, and others beyond our control, including the following:

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unacceptable toxicity findings in animals or humans;

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lack of efficacy in human trials;

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announcements of technological innovations by us and our competitors;

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new products introduced or announced by us or our competitors;

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changes in financial estimates by securities analysts;

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actual or anticipated variations in operating results;

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expiration or termination of licenses, research contracts or other collaboration agreements;

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conditions or trends in the regulatory climate in the biotechnology and pharmaceutical industries;

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changes in the market values of similar companies;

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the liquidity of any market for our securities; and

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additional sales by us of our securities.

In addition, equity markets in general and the market for biotechnology and life sciences companies in particular, have experienced substantial price and volume fluctuations that have often been unrelated or disproportionate to the operating performance of the companies traded in those markets. Further changes in economic conditions in the United States, EU, or globally, could impact our ability to grow profitably. Adverse economic changes are outside our control and may result in material adverse effects on our business or results of operations. These broad market and industry factors may materially affect the market price of the ADSs regardless of our development and operating performance. In the past, following periods of volatility in the market price of a company’s securities, securities class action litigation has often been instituted against that company. Such litigation, if instituted against us, could cause us to incur substantial costs and divert management’s attention and resources.

We will have broad discretion in how to use the net proceeds from the exercise of the Warrants, and we may not use these proceeds in a manner desired by our investors.

We will have broad discretion as to the use of the net proceeds from the exercise of the Warrants and could use them for purposes other than those contemplated at the time of this prospectus. Accordingly, you will be relying on the judgment of our management with regard to the use of these net proceeds, and you will not have the opportunity as part of your investment decision to assess whether the proceeds are being used appropriately. Our needs may change as the business and the industry that we address evolves. As a result, the proceeds to be received from the exercise of the Warrants may be used in a manner significantly different from our current expectations. It is