Structure Extends Runway to 2027 Ahead of Key 2025 Data

Structure raised $300M to advance its oral GLP-1 pill, with key data due in 2025 and cash runway into 2027.

7 Aug 2025

Structure Therapeutics is betting big on tablets to treat obesity and diabetes, in a field dominated by injections from Eli Lilly and Novo Nordisk. In September 2023 it raised $300m in a private placement to advance its lead compound, GSBR-1290 (aleniglipron), a once-daily pill that mimics the appetite-suppressing effects of blockbuster jabs.

The drug is now in Phase 2b trials, with results from two studies, ACCESS and ACCESS II, expected by the end of 2025. These will decide whether a pill can match the effectiveness of injectable GLP-1 drugs. If it can, it could reshape a market analysts expect to exceed $150bn by the early 2030s. Tablets may also widen access: they are less invasive than needles and potentially cheaper to produce.

Structure has the money to keep going. At the end of June 2025 it held $786m in cash, down from $837m in March but still enough, the firm says, to fund operations until 2027. That should carry it through late-stage trials and the start of regulatory filings without rushing back to investors.

Yet risks are clear. Oral drugs must not only equal injections on efficacy but also demonstrate safety over long periods. Regulators will scrutinise every dataset. Rivals are racing too, with other firms pursuing their own oral GLP-1 candidates. Delays or disappointing results could quickly erode investor confidence.

For now, Structure looks well positioned. A well-funded balance sheet, an asset designed to simplify treatment and trial readouts due within two years give it a chance to shape the next phase of metabolic medicine. Success would swap syringes for pills, and could bring treatment within reach of millions more patients.