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Structure Therapeutics Inc. develops oral small-molecule therapeutics for chronic metabolic diseases, with a focus on obesity. The clinical-stage global biopharmaceutical company uses a structure-based drug discovery platform and GPCR-targeted pipeline to advance wholly owned compounds, including aleniglipron, an oral nonpeptide GLP-1 receptor agonist, and ACCG-2671, an oral amylin receptor agonist.
Recurring company updates include clinical data from the ACCESS aleniglipron program, obesity and weight-management research presentations, financial results, research-and-development funding, ADS and warrant financings, and leadership or governance changes. The company’s American depositary shares trade under GPCR, with each ADS representing three ordinary shares.
Structure Therapeutics (NASDAQ: GPCR) announced the closing of its upsized public offering of 10,427,017 American depositary shares (ADSs), each representing three ordinary shares, at $52.50 per ADS. The offering, which included the full exercise of the underwriters' option to purchase an additional 1,360,045 ADSs, generated gross proceeds of around $547.4 million. The proceeds are subject to underwriting discounts, commissions, and offering expenses. The offering was managed by Goldman Sachs, Morgan Stanley, Jefferies, Leerink Partners, Guggenheim Securities, and BMO Capital Markets. The registration statements for the securities became effective on June 5, 2024.
Structure Therapeutics, a clinical-stage biopharmaceutical company (NASDAQ: GPCR), announced the pricing of its upsized public offering. The company is set to offer 9,066,972 American Depositary Shares (ADS) at $52.50 each, aiming for gross proceeds of approximately $476 million before deductions. An additional 1,360,045 ADSs may be purchased by underwriters within 30 days. The offering, managed by major financial institutions including Goldman Sachs and Morgan Stanley, will close on June 7, 2024, contingent on standard conditions.
Structure Therapeutics, a clinical-stage biopharmaceutical company (NASDAQ: GPCR), has filed a Form S-1 registration statement with the SEC for a proposed public offering of 8,000,000 American depositary shares (ADSs). Each ADS represents three ordinary shares. The company may also offer pre-funded warrants in lieu of ADSs. The price per pre-funded warrant will be the ADS price minus $0.0001. The underwriters have a 30-day option to purchase up to an additional 1,200,000 ADSs. The offering's completion depends on market conditions and other factors. Joint book-running managers include Goldman Sachs, Morgan Stanley, Jefferies, Leerink Partners, Guggenheim Securities, and BMO Capital Markets.
Structure Therapeutics announced positive topline data from its Phase 2a study and capsule to tablet PK study for its oral GLP-1 receptor agonist, GSBR-1290. The Phase 2a study showed a statistically significant placebo-adjusted mean weight loss of 6.2% at 12 weeks, while the capsule to tablet PK study achieved up to a 6.9% weight loss. GSBR-1290 demonstrated favorable safety and tolerability with low discontinuation rates due to adverse events.
The company plans to start a 36-week Phase 2b study in the fourth quarter of 2024, following an IND submission to the FDA in the third quarter. The new study will use the tablet formulation and involve approximately 300 participants.
These results underscore the potential of GSBR-1290 as a treatment for obesity, with benefits including once-daily dosing and favorable safety profiles. Future development plans include exploring higher doses and combination therapies.
Structure Therapeutics Inc., a biopharmaceutical company, reported financial results for Q1 2024, highlighting upcoming milestones such as data release for obesity drug GSBR-1290 and plans for Phase 2b study. The company aims to address obesity epidemic with its oral small molecule GLP-1 receptor agonist. Positive financial highlights include a cash position of $436.4 million, funding projected operations through 2026.
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