Structure Therapeutics Reports Positive GSBR-1290 Phase 1b Trial Results; Stock Climbs In Premarket

(RTTNews) - Structure Therapeutics Inc. (GPCR), a clinical-stage biopharmaceutical company focused on chronic metabolic and cardiopulmonary conditions, announced Friday positive results from Phase 1b clinical study of oral GLP-1 receptor agonist GSBR-1290 in healthy overweight or obese individuals. The company continues to plan to initiate two Phase 2b studies of GSBR-1290 in type 2 diabetes and obesity in 2024.

In pre-market activity on Nasdaq, Structure Therapeutics shares were gaining around 75 percent to trade at $65.70.

In the 28-day Phase 1b multiple ascending dose or MAD study, GSBR-1290 demonstrated significant weight loss supporting once-daily or QD dosing and an encouraging safety and tolerability profile. GSBR-1290 demonstrated reductions in mean body weight ranging up to 4.9 kg compared to baseline, and up to 4.9% placebo-adjusted.

Raymond Stevens, Founder and CEO of Structure, said, "GSBR-1290 demonstrated an encouraging safety and tolerability profile with no adverse event-related discontinuations and we are encouraged by the weight loss observed following four weeks of treatment. We look forward to sharing results of GSBR-1290 over a longer 12-week period in the Phase 2a study, and we continue to move forward with all activities in order to begin Phase 2b clinical trials in both type 2 diabetes and obesity as planned in 2024."

Structure said it remains on track to report topline data from the type 2 diabetes cohort of the Phase 2a study in the latter half of the fourth quarter of 2023 as planned, along with results from the Japanese ethno-bridging study of GSBR-1290.

Regarding the Phase 2b studies of GSBR-1290, the company said the type 2 diabetes study is expected to include around 500 individuals across the United States, Europe and Japan. The obesity study would include around 275 individuals across the United States and Europe.

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