Deep Track Discloses 15.4M-Share (8.92%) Position in Structure Therapeutics

Rhea-AI Filing Summary

Structure Therapeutics Inc. Schedule 13G discloses that Deep Track Capital, LP, Deep Track Biotechnology Master Fund, Ltd. and David Kroin jointly report beneficial ownership of 15,401,751 ordinary shares, representing 8.92% of the class based on 172,610,249 shares outstanding. The position is held through 5,133,917 American Depositary Shares, each convertible into three ordinary shares.

The filing states the reporting persons have shared voting and dispositive power over the shares and no sole voting or dispositive power, includes a joint filing statement on amendment responsibilities, and certifies the stake is not held to change or influence control.

Positive

• Material disclosure: Reporting persons own 15,401,751 ordinary shares (8.92%), providing clarity on a sizable ownership stake.
• Transparent structure: Position disclosed as 5,133,917 ADSs convertible 3-for-1, allowing precise share-equivalent calculation.

Negative

• None.

Insights

Financial Analyst

TL;DR: A passive, material stake disclosed: 8.92% ownership via ADSs with shared voting/dispositive power; no sole control claimed.

The filing documents a meaningful passive position in Structure Therapeutics equal to 15.4 million ordinary shares, calculated from 5.13 million ADSs convertible three-for-one. For investors this clarifies ownership concentration and potential alignment of a sophisticated investor, but the explicit certification of no intent to influence control signals a passive holding rather than an activist campaign. Shared voting and dispositive power suggests coordinated control of the position among affiliated entities and the named individual.

Corporate Governance Expert

TL;DR: Governance impact appears limited: joint filing shows shared authority but affirms no intent to alter issuer control.

The Schedule 13G joint statement and certifications indicate the reporting persons are coordinating disclosures and accept joint responsibility for amendments. Although the stake exceeds the 5% disclosure threshold and is material, the filing's language classifies the position as passive under the rules. Shareholders should note the existence of shared voting/dispositive power, which could matter if the investors change intentions, but the filing as submitted does not assert a control or activist objective.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

Structure Therapeutics Inc.

(Name of Issuer)

Ordinary Shares, $0.0001 par value

(Title of Class of Securities)

86366E106

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 86366E106

1

Names of Reporting Persons

Deep Track Capital, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 15,401,751.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 15,401,751.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

15,401,751.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.92 %

12

Type of Reporting Person (See Instructions)

IA, OO

SCHEDULE 13G

CUSIP No. 86366E106

1

Names of Reporting Persons

Deep Track Biotechnology Master Fund, Ltd.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 15,401,751.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 15,401,751.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

15,401,751.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.92 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP No. 86366E106

1

Names of Reporting Persons

David Kroin

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 15,401,751.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 15,401,751.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

15,401,751.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.92 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Structure Therapeutics Inc.
(b)	Address of issuer's principal executive offices: 601 Gateway Blvd., Suite 900, South San Francisco, CA 94080
Item 2.
(a)	Name of person filing: (i) Deep Track Capital, LP (ii) Deep Track Biotechnology Master Fund, Ltd. (iii) David Kroin
(b)	Address or principal business office or, if none, residence: (i) 200 Greenwich Ave, 3rd Floor, Greenwich, CT 06830 (ii) c/o Walkers Corporate Limited, 190 Elgin Ave, George Town, KY1-9001, Cayman Islands (iii) c/o Deep Track Capital, LP, 200 Greenwich Ave, 3rd Floor, Greenwich, CT 06830
(c)	Citizenship: (i) Delaware (ii) Cayman Islands (iii) United States
(d)	Title of class of securities: Ordinary Shares, $0.0001 par value
(e)	CUSIP No.: 86366E106
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 15,401,751
(b)	Percent of class: 8.92%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 15,401,751
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 15,401,751
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. Deep Track Capital, LP is the relevant entity for which David Kroin may be considered a control person.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Deep Track Capital, LP

Signature:	David Kroin
Name/Title:	David Kroin, Managing Member of the General Partner of the Investment Adviser
Date:	08/14/2025

Deep Track Biotechnology Master Fund, Ltd.

Signature:	David Kroin
Name/Title:	David Kroin, Director
Date:	08/14/2025

David Kroin

Signature:	David Kroin
Name/Title:	David Kroin
Date:	08/14/2025

Exhibit Information

Item 4: Information with respect to the Reporting Persons' ownership of the Ordinary Shares as of August 14, 2025 is incorporated by reference to items (5) - (9) and (11) of the cover page of the respective Reporting Person. The amount beneficially owned by each Reporting Person is determined based on 172,610,249 Ordinary Shares outstanding as of April 30, 2025, according to the issuer's 10-Q filed with the SEC on May 8, 2025. Deep Track Capital LP, Deep Track Biotechnology Master Fund Ltd and David Kroin, together as the Reporting Persons', beneficially owns an aggregate of 15,401,751 ordinary shares of Structure Therapeutics Inc., consisting of 5,133,917 American Depositary Shares, each of which represents, and at the holder's option is convertible into, three ordinary shares. JOINT FILING STATEMENT PURSUANT TO RULE 13d-1(k) The undersigned acknowledge and agree that the foregoing statement on SCHEDULE 13G, is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on SCHEDULE 13G, shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate. Dated: August 14, 2025 Deep Track Capital, LP By: /s/ David Kroin David Kroin, Managing Member of the General Partner of the Investment Adviser Deep Track Biotechnology Master Fund, Ltd. By: /s/ David Kroin David Kroin, Director David Kroin By: /s/ David Kroin David Kroin

FAQ

How many shares does Deep Track report owning in Structure Therapeutics?

The reporting persons jointly disclose beneficial ownership of 15,401,751 ordinary shares.

What percentage of Structure Therapeutics does the reported stake represent?

The position represents 8.92% of the outstanding ordinary shares used in the filing's calculation.

How is the 15,401,751 share position held?

The position consists of 5,133,917 American Depositary Shares, each convertible into three ordinary shares, totaling the reported ordinary-share equivalent.

Do the reporting persons claim control of Structure Therapeutics?

No; the filing certifies the securities are not held to change or influence control and reports no sole voting or dispositive power.

Who filed the Schedule 13G for this position?

The filing was made jointly by Deep Track Capital, LP, Deep Track Biotechnology Master Fund, Ltd. and David Kroin.