Structure Therapeutics Stock Doubles on Promising Oral Weight-Loss Drug Data
Phase 2b results for aleniglipron show competitive efficacy, setting the stage for a Phase 3 trial in the lucrative GLP-1 market dominated by injectable treatments.
Structure Therapeutics (NASDAQ: GPCR) saw its shares nearly double in Monday trading after the clinical-stage biopharmaceutical company announced highly encouraging results for its experimental oral weight-loss pill, aleniglipron.
The company's stock surged as much as 97.6%, closing at $68.30 and pushing its market capitalization over $2 billion. The rally came after Structure revealed that its once-daily pill helped patients achieve a placebo-adjusted mean weight loss of 11.3% at its highest tested dose over 36 weeks in a Phase 2b study.
The results position Structure Therapeutics as a formidable contender in the fiercely competitive obesity drug market, which is currently dominated by blockbuster injectable treatments from Eli Lilly and Novo Nordisk. The development of an effective oral GLP-1 medication is considered a pivotal goal in the sector, offering a more convenient alternative for patients.
"The topline results presented today show that aleniglipron is differentiated and delivered clinically meaningful, competitive and dose-dependent weight loss with a safety profile appropriate for chronic use," said Raymond Stevens, Ph.D., CEO of Structure Therapeutics, in a company press release.
Diving into the Data
The Phase 2b ACCESS study involved 230 adults with obesity or who were overweight with related health conditions. In the 120mg cohort, patients achieved the 11.3% placebo-adjusted weight loss over 36 weeks. Notably, 70% of participants taking that dose lost at least 10% of their body weight, a key benchmark for efficacy in obesity treatments. An exploratory study evaluating even higher doses showed a placebo-adjusted weight loss of up to 15.3% over the same period.
The drug's tolerability profile was consistent with other GLP-1 agonists, with the most common side effects being gastrointestinal in nature, such as nausea and vomiting, primarily during the initial titration phase. The treatment discontinuation rate due to adverse events was approximately 10.4% across the active dose arms, a figure Wall Street is likely to view favorably compared to some rivals.
The positive data allows Structure Therapeutics to advance aleniglipron into larger, more definitive Phase 3 trials. The company plans to meet with the U.S. Food and Drug Administration (FDA) in the first half of 2026, with the goal of initiating the pivotal late-stage study by the middle of that year.
A Crowded and Lucrative Field
Structure’s promising results heat up the race to develop a potent oral treatment for obesity, a market analysts project could exceed $100 billion by the end of the decade. Eli Lilly is developing its own daily pill, orforglipron, which showed weight loss of up to 12.4% in its own mid-stage trials, with an FDA filing anticipated in late 2025. Meanwhile, Novo Nordisk, maker of the injectable Wegovy and Ozempic, is also working on higher-dose oral versions of its drug semaglutide.
The strong performance of aleniglipron offers a potential new path for patients and investors in a field that has seen both spectacular successes and notable setbacks. Structure's data suggests its candidate could be highly competitive.
Stevens emphasized the drug's long-term potential. "These findings provide comprehensive information to move into Phase 3 development and reinforce aleniglipron’s potential to become a backbone oral small molecule therapy for obesity—one that is accessible, scalable, and combinable," he stated.
For investors, the successful trial data significantly de-risks Structure's lead asset. However, the path forward remains challenging and capital-intensive. Phase 3 trials for obesity drugs require thousands of participants and can take years to complete, but Monday's powerful market reaction signals strong confidence that Structure Therapeutics may have a multibillion-dollar product in its pipeline.