Structure Therapeutics Inc.(NASDAQ:GPCR)

Structure Therapeutics Inc., a clinical stage global biopharmaceutical company, develops and delivers novel oral therapeutics to treat a range of chronic diseases with unmet medical needs. Its lead product candidate is GSBR-1290, an oral and biased small molecule agonist of glucagon-like-peptide-1 r...
Website: https://structuretx.com
Founded: 2016
IPO Price: $15 (Feb 03, 2023)
Sector: Healthcare
Industry: Biotechnology
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
operating expenses: | ||||||||||||||
research and development | 66,507,000 | 68,689,000 | 58,989,000 | 54,710,000 | 42,867,000 | 33,487,000 | 32,598,000 | 22,050,000 | 20,679,000 | 20,042,000 | 17,515,000 | 19,411,000 | 13,135,000 | |
general and administrative | 22,872,000 | 17,571,000 | 14,798,000 | 15,741,000 | 13,444,000 | 13,574,000 | 13,238,000 | 11,266,000 | 11,336,000 | 10,952,000 | 8,630,000 | 6,576,000 | 6,514,000 | |
total operating expenses | 89,379,000 | -23,989,000 | 73,787,000 | 70,451,000 | 56,311,000 | 47,061,000 | 45,836,000 | 33,316,000 | 32,015,000 | 30,994,000 | 26,145,000 | 25,987,000 | 19,649,000 | |
income from operations | -89,379,000 | 23,989,000 | -73,787,000 | -70,451,000 | -56,311,000 | -47,061,000 | -45,836,000 | -33,316,000 | -32,015,000 | -30,994,000 | -26,145,000 | -25,987,000 | -19,649,000 | |
yoy | 58.72% | -150.97% | 60.98% | 111.46% | 75.89% | 51.84% | 75.31% | 28.20% | 62.93% | |||||
qoq | -472.58% | -132.51% | 4.74% | 25.11% | 19.66% | 2.67% | 37.58% | 4.06% | 3.29% | 18.55% | 0.61% | 32.26% | ||
interest and other income | 13,601,000 | 9,185,000 | 8,183,000 | 8,929,000 | 9,576,000 | 10,718,000 | 11,951,000 | 7,335,000 | 6,008,000 | 6,179,000 | 2,688,000 | 2,825,000 | 1,699,000 | |
income before provision for income taxes | -75,778,000 | 33,174,000 | -65,604,000 | -61,522,000 | -46,735,000 | -36,343,000 | -33,885,000 | -25,981,000 | -26,007,000 | -24,815,000 | -23,457,000 | -23,162,000 | -17,950,000 | |
provision for income taxes | 190,000 | 170,000 | 108,000 | 139,000 | 98,000 | 136,000 | 92,000 | 53,000 | 29,000 | -312,000 | 405,000 | 118,000 | 25,000 | |
net loss attributable to ordinary shareholders | -75,968,000 | 33,004,000 | -65,712,000 | -61,661,000 | -46,833,000 | -36,479,000 | -33,977,000 | -26,034,000 | -26,036,000 | -24,503,000 | -23,862,000 | -23,280,000 | -17,975,000 | |
net income per share | -0.35 | 0.2 | -0.37 | -0.36 | -0.27 | -0.22 | -0.2 | -0.18 | -0.19 | -0.16 | -0.21 | -0.2 | -0.25 | |
weighted-average ordinary shares used in computing net loss per share attributable to ordinary shareholders, basic and diluted | 217,326 | 177,596 | 175,469 | 172,647 | 172,051 | 157,922 | 171,630 | 148,239 | 139,710 | 110,198 | 114,948 | 114,759 | 71,655 | |
other comprehensive loss: | ||||||||||||||
unrealized loss on investments | -3,249 | -453 | -99 | -397 | -537 | |||||||||
total other comprehensive loss | -3,249 | -453 | -99 | -397 | -50 | 80 | -537 | |||||||
comprehensive loss | -79,217 | 33,233 | -65,249 | -62,114 | -46,932 | -38,404 | -30,651 | -26,431 | -26,647 | -23,672 | -23,782 | -23,817 | -17,718 | |
other comprehensive gain: | ||||||||||||||
unrealized gain on investments | 229 | 463 | -1,925 | 3,326 | -611 | 831 | 80 | 257 | ||||||
total other comprehensive gain | -22.25 | 463 | -1,925 | 3,326 | 257 | |||||||||
total other comprehensive income | -611 | |||||||||||||
net income | -24,503,000 | -23,862,000 | -23,280,000 | |||||||||||
yoy | ||||||||||||||
qoq | 2.69% | 2.50% | ||||||||||||
less: accretion of redeemable convertible preferred shares to their redemption value |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||
current assets: | ||||||||||||||
cash and cash equivalents | 316,168,000 | 799,623,000 | 102,912,000 | 147,024,000 | 152,123,000 | 169,510,000 | 172,130,000 | 381,627,000 | 97,832,000 | 129,792,000 | 50,636,000 | 40,591,000 | 126,493,000 | 26,091,000 |
short-term investments | 1,142,336,000 | 646,574,000 | 696,131,000 | 639,472,000 | 684,759,000 | 714,008,000 | 743,156,000 | 545,492,000 | 338,617,000 | 337,531,000 | 154,788,000 | 183,996,000 | 114,369,000 | 64,750,000 |
other receivable | 100,000,000 | |||||||||||||
prepaid expenses and other current assets | 32,094,000 | 24,106,000 | 14,979,000 | 12,802,000 | 12,740,000 | 7,693,000 | 8,365,000 | 10,502,000 | 12,911,000 | 6,285,000 | 4,535,000 | 3,635,000 | 5,293,000 | 2,248,000 |
total current assets | 1,490,598,000 | 1,570,303,000 | 814,022,000 | 799,298,000 | 849,622,000 | 891,211,000 | 923,651,000 | 937,621,000 | 449,360,000 | 473,608,000 | 209,959,000 | 228,222,000 | 246,155,000 | 93,089,000 |
property and equipment | 6,365,000 | 6,653,000 | 4,675,000 | 3,459,000 | 3,518,000 | 3,478,000 | 3,735,000 | 3,315,000 | 3,120,000 | 3,228,000 | 2,408,000 | 1,078,000 | 961,000 | 1,031,000 |
operating right-of-use assets | 5,606,000 | 6,245,000 | 6,863,000 | 7,484,000 | 7,313,000 | 3,535,000 | 4,009,000 | 4,267,000 | 4,698,000 | 5,136,000 | 3,653,000 | 90,000 | 178,000 | 262,000 |
other non-current assets | 5,555,000 | 717,000 | 6,599,000 | 6,202,000 | 6,096,000 | 5,106,000 | 1,822,000 | 1,826,000 | 47,000 | 45,000 | 350,000 | 38,000 | 59,000 | 3,463,000 |
total assets | 1,508,124,000 | 1,583,918,000 | 832,159,000 | 816,443,000 | 866,549,000 | 903,330,000 | 933,217,000 | 947,029,000 | 457,225,000 | 482,017,000 | 216,370,000 | 229,428,000 | 247,353,000 | 97,845,000 |
liabilities and shareholders’ equity | ||||||||||||||
current liabilities: | ||||||||||||||
accounts payable | 7,822,000 | 13,864,000 | 17,796,000 | 8,990,000 | 8,710,000 | 8,024,000 | 8,447,000 | 2,209,000 | 6,538,000 | 4,742,000 | 3,319,000 | 5,699,000 | 4,945,000 | 6,009,000 |
accrued expenses and other current liabilities | 46,553,000 | 46,543,000 | 36,929,000 | 27,379,000 | 25,306,000 | 26,299,000 | 23,275,000 | 18,821,000 | 15,448,000 | 18,558,000 | 15,955,000 | 9,241,000 | 5,889,000 | 6,741,000 |
operating lease liabilities, current portion | 2,609,000 | 2,878,000 | 2,802,000 | 2,664,000 | 2,471,000 | 1,698,000 | 1,712,000 | 1,629,000 | 1,600,000 | 1,440,000 | 817,000 | 73,000 | 168,000 | 260,000 |
total current liabilities | 56,984,000 | 63,285,000 | 57,527,000 | 39,033,000 | 36,487,000 | 36,021,000 | 33,434,000 | 22,659,000 | 23,586,000 | 24,740,000 | 20,091,000 | 15,013,000 | 11,002,000 | 13,010,000 |
operating lease liabilities, net of current portion | 3,183,000 | 3,609,000 | 4,288,000 | 5,012,000 | 5,116,000 | 2,164,000 | 2,673,000 | 3,045,000 | 3,525,000 | 4,013,000 | 3,034,000 | |||
other non-current liabilities | 863,000 | 647,000 | 325,000 | 317,000 | 308,000 | 302,000 | 309,000 | 293,000 | 296,000 | 298,000 | 281,000 | |||
total liabilities | 61,030,000 | 67,541,000 | 62,140,000 | 44,362,000 | 41,911,000 | 38,487,000 | 36,416,000 | 25,997,000 | 27,407,000 | 29,051,000 | 23,406,000 | 15,013,000 | 11,002,000 | 13,010,000 |
commitments and contingencies | ||||||||||||||
shareholders’ equity: | ||||||||||||||
undesignated shares – 0.0001 par value... | ||||||||||||||
ordinary shares – 0.0001 par value... | 21,000 | 21,000 | 18,000 | 17,000 | 17,000 | 17,000 | 17,000 | 17,000 | 14,000 | 14,000 | 10,000 | 10,000 | 11,000 | 1,000 |
additional paid-in capital | 1,995,536,000 | 1,985,602,000 | 1,272,480,000 | 1,209,294,000 | 1,199,737,000 | 1,193,010,000 | 1,186,564,000 | 1,180,144,000 | 662,502,000 | 659,003,000 | 375,332,000 | 373,001,000 | 371,120,000 | 1,921,000 |
accumulated other comprehensive income | -2,195,000 | 1,054,000 | 825,000 | 362,000 | 815,000 | 914,000 | 2,839,000 | -487,000 | -90,000 | 521,000 | 147,000 | |||
accumulated deficit | -546,268,000 | -470,300,000 | -503,304,000 | -437,592,000 | -375,931,000 | -329,098,000 | -292,619,000 | -258,642,000 | -232,608,000 | -206,572,000 | -182,069,000 | -158,207,000 | -134,927,000 | -116,952,000 |
total shareholders’ equity | 1,447,094,000 | 1,516,377,000 | 770,019,000 | 772,081,000 | 824,638,000 | 864,843,000 | 896,801,000 | 921,032,000 | 429,818,000 | 452,966,000 | 192,964,000 | 214,415,000 | 236,351,000 | |
total liabilities and shareholders’ equity | 1,508,124,000 | 1,583,918,000 | 832,159,000 | 816,443,000 | 866,549,000 | 903,330,000 | 933,217,000 | 947,029,000 | 457,225,000 | |||||
liabilities, redeemable convertible preferred shares and shareholders’ equity | ||||||||||||||
series a redeemable convertible preferred shares – 0.0001 par value... | 32,001,000 | |||||||||||||
series a+ redeemable convertible preferred shares – 0.0001 par value... | 26,000,000 | |||||||||||||
series b redeemable convertible preferred stock – 0.0001 par value... | 133,015,000 | |||||||||||||
series b‑1 redeemable convertible preferred stock – 0.0001 par value... | 8,959,000 | |||||||||||||
shareholders’ equity | ||||||||||||||
undesignated shares – 0.0001 par value... | ||||||||||||||
total liabilities, redeemable convertible preferred shares and shareholders’ equity | 482,017,000 | 216,370,000 | 229,428,000 | 247,353,000 | ||||||||||
non-voting ordinary shares – 0.0001 par value... | 1,000 | 1,000 | ||||||||||||
accumulated other comprehensive loss | -310,000 | -390,000 | -110,000 | |||||||||||
liabilities, redeemable convertible preferred shares and shareholders’ deficit | ||||||||||||||
shareholders’ deficit: | ||||||||||||||
total shareholders’ deficit | -115,140,000 | |||||||||||||
total liabilities, redeemable convertible preferred shares and shareholders’ deficit | 97,845,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities | ||||||||||||
net loss | -75,968,000 | -65,712,000 | -61,661,000 | -46,833,000 | -36,479,000 | -33,977,000 | -26,034,000 | -26,036,000 | -24,503,000 | -23,862,000 | -23,280,000 | -17,975,000 |
adjustments to reconcile net loss to net cash from operating activities: | ||||||||||||
share-based compensation expense | 11,639,000 | 7,495,000 | 7,509,000 | 5,918,000 | 5,831,000 | 6,023,000 | 4,196,000 | 2,744,000 | 2,533,000 | |||
depreciation expense | 576,000 | 356,000 | 291,000 | 274,000 | 273,000 | 265,000 | 232,000 | 222,000 | ||||
accretion of asset retirement obligation | 10,000 | -7,000 | 17,000 | |||||||||
non-cash lease expense | 639,000 | 621,000 | 560,000 | 412,000 | 474,000 | 258,000 | 431,000 | 438,000 | 190,000 | 272,000 | 88,000 | 84,000 |
accretion of net investment discounts | -3,246,000 | -3,291,000 | -4,340,000 | -5,197,000 | -6,025,000 | -5,979,000 | -3,184,000 | -3,277,000 | -2,324,000 | |||
changes in operating assets and liabilities: | ||||||||||||
other receivable | 100,000,000 | |||||||||||
prepaid expenses and other current assets | -7,988,000 | -2,177,000 | -62,000 | -5,047,000 | 672,000 | 2,137,000 | 2,409,000 | -6,626,000 | -1,750,000 | -900,000 | 1,658,000 | -3,045,000 |
other non-current assets | -4,838,000 | -397,000 | -106,000 | -990,000 | -3,284,000 | 4,000 | -1,779,000 | -2,000 | -7,000 | 0 | 81,000 | -59,000 |
accounts payable | -4,967,000 | 8,806,000 | 280,000 | 686,000 | -423,000 | 6,301,000 | -4,390,000 | 1,819,000 | 1,398,000 | -2,380,000 | 1,045,000 | -923,000 |
accrued expenses and other current liabilities | -134,000 | 3,881,000 | 3,604,000 | -993,000 | 3,024,000 | 5,550,000 | 2,177,000 | -3,034,000 | 3,151,000 | 6,090,000 | 3,477,000 | -555,000 |
operating lease liabilities | -695,000 | -601,000 | -633,000 | -459,000 | -523,000 | -289,000 | -451,000 | -328,000 | -71,000 | -57,000 | -95,000 | -92,000 |
other non-current liabilities | 206,000 | |||||||||||
net cash from operating activities | 15,234,000 | -50,996,000 | -54,558,000 | -52,229,000 | -36,467,000 | -19,696,000 | -26,393,000 | -34,080,000 | -21,729,000 | -20,557,000 | -16,894,000 | -20,308,000 |
capital expenditures | -1,182,000 | -1,572,000 | -232,000 | -314,000 | -16,000 | -685,000 | -427,000 | -162,000 | -1,420,000 | -820,000 | 0 | |
free cash flows | 14,052,000 | -52,568,000 | -54,790,000 | -52,543,000 | -36,483,000 | -20,381,000 | -26,820,000 | -34,242,000 | -23,149,000 | -21,377,000 | -16,894,000 | |
cash flows from investing activities | ||||||||||||
purchases of short-term investments | -647,468,000 | -248,824,000 | -88,826,000 | -116,106,000 | -132,252,000 | -254,759,000 | -283,588,000 | -31,920,000 | -236,588,000 | -14,932,000 | 24,260,000 | -190,096,000 |
proceeds from maturities of short-term investments | 151,703,000 | 195,919,000 | 138,000,000 | 150,453,000 | ||||||||
purchases of property and equipment | -1,182,000 | -1,572,000 | -232,000 | -314,000 | -16,000 | -685,000 | -427,000 | -162,000 | -1,156,000 | -820,000 | ||
net cash from investing activities | -496,947,000 | -49,319,000 | 48,942,000 | 34,033,000 | 33,232,000 | -189,044,000 | -204,515,000 | 1,418,000 | -180,744,000 | 30,129,000 | -68,711,000 | -49,016,000 |
cash flows from financing activities | ||||||||||||
payments of offering costs | -37,000 | 0 | -1,154,000 | -589,000 | -53,000 | |||||||
proceeds from exercise of share options | 869,000 | 377,000 | 43,000 | 965,000 | 224,000 | 397,000 | 478,000 | 755,000 | 117,000 | 473,000 | 179,000 | 31,000 |
payment of taxes on restricted share units withheld for taxes | -2,574,000 | -462,000 | 0 | -156,000 | ||||||||
net cash from financing activities | -1,742,000 | 56,203,000 | 517,000 | 809,000 | 615,000 | -757,000 | 514,703,000 | 702,000 | 281,629,000 | 473,000 | -297,000 | 169,726,000 |
net change in cash and cash equivalents | -483,455,000 | -44,112,000 | -5,099,000 | -17,387,000 | -2,620,000 | -209,497,000 | 283,795,000 | -31,960,000 | 79,156,000 | 10,045,000 | -85,902,000 | 100,402,000 |
cash and cash equivalents | ||||||||||||
beginning of the period | 799,623,000 | 0 | 0 | 169,510,000 | 0 | 0 | 0 | 129,792,000 | 0 | 0 | 0 | 26,091,000 |
end of the period | 316,168,000 | -44,112,000 | -5,099,000 | 152,123,000 | -2,620,000 | -209,497,000 | 283,795,000 | 97,832,000 | 79,156,000 | 10,045,000 | -85,902,000 | 126,493,000 |
supplemental disclosures of noncash investing and financing activities | ||||||||||||
offering costs included in accounts payable and accrued expenses and other current liabilities | 405,000 | 100,000 | 0 | -1,154,000 | ||||||||
operating lease right-of-use assets obtained in exchange for new lease liabilities | 0 | 731,000 | 4,190,000 | 1,673,000 | ||||||||
advance payment received for sale of non-financial asset | ||||||||||||
proceeds from atm offering, net of sales commission | ||||||||||||
proceeds from issuance of ordinary shares in follow-on offering, net of underwriting discounts and commissions | 0 | 0 | ||||||||||
proceeds from issuance of ordinary shares under employee share purchase plan | 0 | 391,000 | 0 | |||||||||
depository issuance cost offset | ||||||||||||
proceeds from issuance of ordinary shares in initial public offering, net of underwriting discounts and commissions | ||||||||||||
proceeds from private placement financing, gross | ||||||||||||
conversion of redeemable convertible preferred shares into ordinary shares upon initial public offering | 0 | 0 | 0 | 199,975,000 | ||||||||
purchases of property and equipment in accounts payable and accrued expenses and other current liabilities | -264,000 | |||||||||||
recognition of asset retirement obligation | 0 | |||||||||||
conversion of non-voting ordinary shares into ordinary shares | ||||||||||||
exchange of ordinary shares to non-voting ordinary shares | 0 | 0 | ||||||||||
maturities of short-term investments | 66,400,000 | 79,500,000 | 33,500,000 | 57,000,000 | 45,881,000 | -92,780,000 | 141,080,000 | |||||
proceeds from issuance of common stock in initial public offering, net of underwriting discount and commissions | 0 | 0 | ||||||||||
proceeds from issuance of series b redeemable convertible preferred shares, net of issuance costs | ||||||||||||
repurchases of restricted shares | ||||||||||||
deferred offering costs included in accounts payable and accrued expenses and other current liabilities | -259,000 | 416,000 | ||||||||||
accretion of redeemable convertible preferred shares to their redemption value | ||||||||||||
share-based compensation | 1,858,000 | |||||||||||
depreciation | 79,000 | 74,000 | 70,000 | |||||||||
payments of deferred offering costs | 0 | -476,000 | -2,601,000 | |||||||||
amortization of net investment premiums | ||||||||||||
deferred tax liability | ||||||||||||
accretion of net investment premium | -346,000 | |||||||||||
proceeds from issuance of common stock in initial public offering, net of underwriter discount and commissions | 172,296,000 | |||||||||||
amortization of net investment premium | ||||||||||||
amortization of debt discount and issuance costs | ||||||||||||
proceeds from issuance of series seed redeemable convertible preferred shares of basecamp to noncontrolling interest holders | ||||||||||||
repurchases of unvested restricted share awards | ||||||||||||
payment of series b-1 redeemable convertible preferred shares issuance costs | ||||||||||||
issuance of series b-1 redeemable convertible preferred stock to noncontrolling interest holders in exchange of series seed redeemable convertible preferred stock of basecamp |
