Structure Therapeutics Inc. priced an upsized underwritten public offering on December 9 2025, raising $650 million in gross proceeds before underwriting discounts and fees. The offering comprised 8,461,538 American depositary shares (ADSs) and pre‑funded warrants and was scheduled to close on December 11 2025.
The deal upsized the company’s previously proposed $500 million offering, reflecting heightened investor demand and the company’s need for additional capital to advance its pipeline. The proceeds will be directed toward the Phase 3 development of aleniglipron and other oral small‑molecule assets, extending the firm’s cash runway through 2027 and beyond.
Prior to the offering, Structure Therapeutics reported cash balances of $799.0 million at the end of Q3 2025 and $836.9 million at the end of Q1 2025, underscoring the substantial liquidity cushion that the new capital will reinforce. The infusion will allow the company to avoid further financing until 2027, providing a stable financial foundation for its clinical milestones.
The market reacted positively to the announcement, driven by the strong Phase 2b data for aleniglipron released on December 8 2025. The data demonstrated clinically meaningful, dose‑dependent weight loss and a favorable safety profile, positioning the drug as a potential best‑in‑class oral GLP‑1 agonist in a market dominated by injectable therapies.
CEO Raymond Stevens highlighted the differentiation of aleniglipron, noting it delivers dose‑dependent weight loss with a safety profile suitable for chronic use in millions of patients. This confidence underscores the company’s strategy to capture a significant share of the obesity market with an oral alternative.
The offering also signals Structure Therapeutics’ commitment to its pipeline and its belief that the new capital will accelerate the launch of aleniglipron and support the development of other oral small‑molecule candidates such as ACCG‑2671.
With the additional capital, the company can focus on advancing aleniglipron into Phase 3 trials and further developing its portfolio, positioning itself to compete effectively against established injectable GLP‑1 therapies.
The transaction strengthens the company’s balance sheet, enhances its ability to execute on its clinical roadmap, and reinforces its competitive positioning in the rapidly evolving obesity treatment landscape.
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