Structure Therapeutics Falls 41% on GLP-1 Drug Update

Structure Therapeutics Inc. (Nasdaq: GPCR) has provided a program update for its highly selective oral GLP-1 receptor agonist, GSBR-1290. The drug demonstrated clinically meaningful activity in both Type 2 diabetes (T2DM) and obesity cohorts, disappointing analysts who highlighted that the GLP-1 drug candidate is less efficacious than, and not currently a competitive threat to Eli Lilly’s (NYSE: LLY) orforglipron. The company’s share price plummeted 41% following the news, but gained 10% in trading on Tuesday.

Raymond Stevens, Ph.D., Founder and CEO of Structure, said, “We are pleased that we have achieved the objectives of our first Phase 2a clinical trial of GSBR-1290 in T2DM patients which were to demonstrate favorable safety, tolerability and efficacy results and guide our plans to further optimize the already encouraging performance of GSBR-1290. Our data demonstrated that once-daily GSBR-1290 has the potential to be a best-in-class compound and a backbone for future combinations that could address large cardiometabolic indications.”

Highlights

Structure’s study is a randomized, double-blind, 12-week placebo-controlled Phase 2a clinical trial that has enrolled a total of 94 participants to date.

GSBR-1290 was generally well-tolerated with no treatment-related serious adverse events over 12 weeks.

Topline Phase 2a data from Structure’s first study in type 2 diabetes mellitus (T2DM) demonstrate significant reductions in hemoglobin A1c (HbA1c) and weight at 12 weeks.

Interim Phase 2a data from the study’s obesity cohort demonstrate significant reduction in weight at 8 weeks. Full 12-week obesity data is expected in the second quarter of 2024.

Structure plans to initiate a Phase 2b obesity study of GSBR-1290 in 275 individuals across the US and Europe in the second half of 2024. An additional Phase 2 study in T2DM is also planned for the second half of 2024 to optimize the efficacy and tolerability of GSBR-1290 in this patient population.

About Structure Therapeutics

Structure Therapeutics is a leading clinical-stage biopharmaceutical company focused on discovering and developing innovative oral treatments for chronic metabolic and cardiopulmonary conditions with significant unmet medical needs. Utilizing its next generation structure-based drug discovery platform, the company has established a scientifically-driven, GPCR-targeted pipeline, featuring two wholly-owned proprietary clinical-stage small molecule compounds. These compounds are designed to surpass the limitations of traditional biologic and peptide therapies and be accessible to more patients around the world. For additional information, please visit www.structuretx.com.