Structure Therapeutics: The Amylin Data Changes The Math

Structure Therapeutics remains a Strong Buy, with recent data de-risking its lead oral obesity drug, aleniglipron. Aleniglipron’s 72-week open-label data showed 16.2% weight loss, low AE discontinuations, and no DILI, though Phase 3 efficacy and safety monitoring remain key. ACCG-2671, an oral amylin agonist, now has human data and offers potential for combination therapy, further differentiating GPCR’s pipeline. With $1.3B in cash, GPCR is well-capitalized through 2028, but large trials may require future funding, posing dilution risk.

There have been a surprising amount of developments with Structure Therapeutics ( GPCR ) since my " Strong Buy " write-up in early June. Structure is a clinical-stage obesity player,