Company: BLTE
Filing Date: 2025-03-17
Form Type: 20-F
Source: 0001410578-25-000356
Chunk: 2

Company: BELITE BIO, INC
Filing Date: 2025-03-17
Form: 20-F
Item: Item 11
Chunk 2
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 it is not exposed to significant credit risk as its deposits are generally held in financial institutions that management believes to be of high credit quality. As of December 31, 2024, no single issuer, other than the U. S. government, represented more than 50% of total short-term investments.

Assets that potentially subject us to significant concentration of credit risk primarily consist of cash. We expect that there is no significant credit risk associated with our cash, which were held by reputable financial institutions in the jurisdictions where we and our subsidiaries are located. We believe that it is not exposed to unusual risks as these financial institutions have high credit quality.

Foreign Currency Exchange Rate Risk

Our functional currency is U. S. dollars, but we contract with CROs and CMOs globally. We may be subject to fluctuations in foreign currency rates in connection with certain of these agreements. Transactions denominated in currencies other than the U. S. dollar are recorded based on exchange rates at the time such transactions arise. As of December 31, 2024, substantially all of our total liabilities were denominated in the U. S. dollar.