Structure Therapeutics Inc Adr (GPCR)

Shares of Structure Therapeutics Inc ADR (GPCR) dropped by 42.82% from $59.16 to $33.83 in the trading on Monday, December 18, 2023. The reason why GPCR down today is due to an update on its highly selective oral GLP-1 receptor agonist, GSBR-1290. The clinical-stage biopharmaceutical company reported positive safety and tolerability results in a Phase 2a clinical trial of GSBR-1290 in patients with type 2 diabetes (T2DM) and obesity. While the trial showed favorable results in terms of safety and efficacy, the substantial drop in stock price might be due to investors' reactions to the detailed clinical trial data. The company plans to continue development, with Phase 2b studies for both obesity and T2DM planned for the second half of 2024. Additionally, Structure Therapeutics is exploring different formulations of GSBR-1290 to optimize its pharmacokinetics.