Structure Therapeutics shares surge after positive results in weight-loss trial, $300 million private placement

Structure Therapeutics Inc.’s American depositary receipts GPCR, +4.96% jumped more than 90% premarket on Friday after the company announced positive results from an early-stage trial of a weight-loss treatment and a $300 million private placement. The company’s oral GLP-1 receptor agonist, GSBR-1290, resulted in placebo-adjusted weight loss of up to 5% in healthy patients with obesity or overweight after 28 days, the company said in a release.

Structure said it continues to plan the launch of a phase 2b study of the treatment in type 2 diabetes next year. The company on Friday also announced a $300 million private placement financing, with “participation from a number of large healthcare dedicated institutional and mutual fund investors.” The proceeds will go toward accelerating GSBR-1290 development as well as other programs from the company’s oral incretin franchise, Structure CEO Raymond Stevens said in a statement.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Soleno Therapeutics Stock Dives After Its Meteoric Rise on Positive Study ResultsThe biotechnology company had announced positive study results for its DCCR tablets on Tuesday.
Source: MarketWatch - 🏆 3. / 97 Read more »

Amgen discloses more than $400 million stake in recent IPO Neumora TherapeuticsAn Amgen disclosure of a large stake in Neumora Therapeutics indicated the value of its investment in the biotech, which recently went public, has tripled.
Source: MarketWatch - 🏆 3. / 97 Read more »