Structure Therapeutics reports Q3 net loss of $23.9M, advances GSBR-1290 and forms Schrödinger collaboration

Structure Therapeutics Inc.

2023-Q3 EPS reported -$0.65

Phase 1b study of GSBR-1290 showed up to 4.9% placebo-adjusted weight loss; no AE-related discontinuations.
Topline Phase 2a T2DM data expected December 2023; obesity cohort data H1 2024; global Phase 2b planned H2 2024.
Completed $300M private placement in October 2023; cash $205.4M at Sept 30, extending runway through 2026.
Collaboration with Schrödinger: up to $89M milestones plus low single-digit royalties on net sales.
Net loss $23.9M for Q3 2023 vs $12.4M in Q3 2022; R&D expenses increased to $17.5M.

item 1.01 item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Structure Therapeutics Inc. reported financial results for the third quarter ended September 30, 2023.

Period: the third quarter ended September 30, 2023
Result: reported results

Exact text from the filing

On November 14, 2023, the Company issued a press release providing a corporate update and announcing its financial results for the third quarter ended September 30, 2023.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Structure Therapeutics Inc. entered into Aconcagua-Schrödinger Agreement with Schrödinger, Inc. valued at up to an aggregate of $89.0 million (effective 2023-11-07).

Action: entry
Agreement: collaboration
Counterparty: Schrödinger, Inc.
Value: up to an aggregate of $89.0 million
Effective: 2023-11-07

Exact text from the filing

On November 7, 2023, Aconcagua Bio, Inc. (“Aconcagua”), a wholly-owned subsidiary of Structure Therapeutics Inc. (the “Company”), entered into a collaboration agreement (the “Aconcagua-Schrödinger Agreement”) with Schrödinger, Inc. (“Schrödinger”) to discover and develop novel, small molecule modulators of a specific target.

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Structure Therapeutics Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-118241

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