aibioStructure Therapeutics raises its at-the-market limit to $400,000,000
Tickers GPCR
Leerink Partners LLC and Cantor Fitzgerald & Co. are the sales agents. About $58.5 million of ADSs had already been sold, leaving $341,478,784 of capacity after the supplement.
Key facts
- Company
- Structure Therapeutics Inc. (NASDAQ: GPCR)
- News type
- Financings
- Primary source
- Structure Therapeutics Inc. 424B5 (2026-05-07)
The program
Structure Therapeutics Inc. (Nasdaq: GPCR) amended and restated its sales agreement on May 7, 2026 to remove the aggregate offering amount under it. A prospectus supplement raises the maximum amount of American depositary shares (ADSs) it may sell to an aggregate gross offering amount of $400,000,000. Each ADS represents three ordinary shares. The supplement amends a prospectus dated August 6, 2025, filed on Form S-3 under File No. 333-289326.
Leerink Partners LLC and Cantor Fitzgerald & Co. are the sales agents. The supplement says they will use commercially reasonable efforts, on terms agreed among the agents and the company, and that they are entitled to a commission of up to 3.0% of gross proceeds. The agents are not required to sell any specific number or dollar amount of securities. Each agent is deemed an underwriter under the Securities Act, and the company has agreed to indemnify them against certain civil liabilities. The supplement says no funds are received into an escrow, trust or similar arrangement.
What has been sold
The company says it has sold approximately $58.5 million, or 3,040,000 ADSs, under the sales agreement so far. After the supplement, it has remaining capacity of up to $341,478,784. The last reported sale price on the Nasdaq Global Market was $40.84 per ADS on May 6, 2026.
The same day, the company reported first quarter 2026 results in an 8-K exhibit. It said cash, cash equivalents and short-term investments were $1.5 billion as of March 31, 2026, which it expects to fund operations through the end of 2028.
The business and the money
The 10-K filed February 26, 2026 describes a clinical-stage biopharmaceutical company developing oral small molecule therapeutics against G-protein coupled receptors. Its most advanced candidate is aleniglipron, an oral GLP-1 receptor agonist in several ongoing clinical studies for obesity and related conditions. The company also has two oral amylin candidates, ACCG-2671 in Phase 1 and ACCG-3535, which it has selected as its second amylin development candidate.
The release reports 44-week topline data from the Phase 2 ACCESS II study, with placebo-adjusted mean weight loss of 16.3%. The company says that result shows the highest efficacy among oral GLP-1 drugs at the 44-week time point, and it describes efficacy as potentially comparable to injectable GLP-1 drugs. Those comparisons are the company's own and are not drawn from a head-to-head study. The release also reports weight loss of up to 16.2% at 56 weeks in the open-label extension, and says no weight loss plateau was observed. The Phase 3 program is expected to start in the third quarter of 2026.
Research and development expense was $225.3 million in 2025, up from $108.8 million in 2024. The net loss was $141.2 million in 2025, against $122.5 million a year earlier. Cash used in operations rose to $222.2 million from $116.6 million.
The company's own figures show cash use rising faster than the net loss, and the program adds equity capacity on top of a $1.5 billion balance. The 16.3% result is a placebo-adjusted figure from one Phase 2 study, and the Phase 3 program has not started. The company says its $1.5 billion of cash, cash equivalents and short-term investments at March 31, 2026 should last through the end of 2028, set against $222.2 million of cash used in operations in 2025.