What's in Store for Structure Therapeutics (GPCR) in Q2 Earnings?
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Structure Therapeutics GPCR, a clinical-stage company, is expected to report second-quarter 2024 results soon.
Structure Therapeutics’ lead product candidate is GSBR-1290, a highly selective oral GLP-1 receptor agonist, which is being evaluated in multiple mid-stage studies for treating healthy overweight or obese individuals.
The Zacks Consensus Estimate is currently pegged at a loss of 23 cents per share.
Please note that Structure Therapeutics does not recognize any revenues at present due to the absence of a marketed product in its commercial portfolio and the lack of existing collaboration agreements. Thus, investors are expected to focus on updates related to the company’s pipeline progress.
Let's see how things might have shaped up for the upcoming quarterly release.
Factors to Consider
Last month, Structure Therapeutics announced positive 12-week top-line data from a phase IIa obesity study and capsule-to-tablet PK study on GSBR-1290. Both studies met their primary and secondary endpoints.
Data from these two studies showed that treatment with GSBR-1290 can result in substantial weight loss and has the potential to become a best-in-class oral small molecule GLP-1RA in the treatment of obesity.
Based on such encouraging results, Structure Therapeutics expects to initiate a phase IIb study of GSBR-1290 in obese patientsin in the fourth quarter of 2024. GPCR has decided to use the tablet formulation of GSBR-1290 for this 36-week global study.
The company plans to file an investigational new drug application to the FDA in the third quarter of 2024 to begin the phase IIb obesity study on GSBR-1290. It is also gearing up to initiate a separate mid-stage study on the candidate to treat type II diabetes mellitus in the second half of 2024. Updates regarding the development plans for both indications are expected in the upcoming earnings release.
In addition to GSBR-1290, Structure Therapeutics is developing several other investigational candidates in its pipeline for a wide range of chronic diseases. Investors can also anticipate updates on these early-stage candidates in the second-quarter earnings report.
Research and development expenses in the to-be-reported quarter are likely to have increased, mainly due to the advancement of the company’s GLP-1R franchise, other research programs, clinical study activities and higher employee-related costs.
Earnings Surprise History
Structure Therapeutics beat estimates in three of the trailing four quarters and missed the mark once, delivering an average surprise of 6.97%. In the last reported quarter, the company came up with an earnings surprise of 9.52%.
