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Mar 31, 2024
Structure Therapeutics Q1 2024 Earnings Report
Structure Therapeutics reported financial results for the first quarter ended March 31, 2024, and highlighted recent corporate achievements.
Key Takeaways
Structure Therapeutics reported a net loss of $26.0 million for the first quarter of 2024. The company's cash, cash equivalents, and short-term investments totaled $436.4 million as of March 31, 2024, which is expected to fund operations through at least 2026.
Topline GSBR-1290 Phase 2a 12-week obesity data on track for June 2024
Phase 2b study in obesity expected to begin as planned in the fourth quarter 2024
Plan to initiate dosing in first-in-human Phase 1 clinical trial of oral small molecule LPA1R Antagonist, LTSE-2578, for idiopathic pulmonary fibrosis in June 2024
Cash, cash equivalents and short-term investments totaled $436.4 million on March 31, 2024.
Structure Therapeutics
Structure Therapeutics
Forward Guidance
The company anticipates several milestones, including the release of Phase 2a data for GSBR-1290 in June, the initiation of a Phase 2b obesity study later in the year, and the start of a Phase 1 clinical trial for LTSE-2578 in June 2024.
Positive Outlook
- Topline GSBR-1290 Phase 2a 12-week obesity data on track for June 2024
- Phase 2b study in obesity expected to begin as planned in the fourth quarter 2024
- Plan to initiate dosing in first-in-human Phase 1 clinical trial of oral small molecule LPA1R Antagonist, LTSE-2578, for idiopathic pulmonary fibrosis in June 2024
- Advancement of the Company’s GLP-1R franchise and other research programs
- Planned timing of the Company’s data results and continued development of GSBR-1290, ANPA-0073, amylin, GIPR and next generation GLP-1R/GIPR combination candidates
Challenges Ahead
- Risks and uncertainties related to the preliminary nature of the results due to length of the study and sample size
- The risks that unblinded data is not consistent with blinded data
- The Company’s ability to advance GSBR-1290, LTSE-2578, ANPA-0073 and its other therapeutic candidates
- The timing and results of preclinical and clinical trials
- The impact of any data collection omissions at any of our clinical sites