The IPO Buzz: Structure Therapeutics Jumps 73 Percent in its NASDAQ Debut

More, please. Structure Therapeutics Inc. (GPCR) shares surged 73.3 percent to close at $26.00 – up $11.00 from their $15.00 IPO price – on Friday (Feb. 3, 2023), their first day of trading on the NASDAQ. Volume today: 1,779,507 shares. Structure defied gravity in terms of the overall trend on Wall Street today. Structure’s stock shot up 67 percent to open at $25.00 – up $10.00 from their $15.00 IPO price – at 11:01 a.m. EST today in their NASDAQ debut. A minute later, the stock popped above $27 to its session high. By 11:27 a.m. EST, Structure Therapeutics’ stock traded at $27.00 – up 80 percent from its IPO price on volume of about 488,000 shares. As it turns out, upsizing the Type 2 diabetes and obesity drug developer’s IPO didn’t hurt at all.

Structure’s bankers added 1.79 million American Depositary Shares (ADS) at pricing – and priced the 10.74-million-ADS deal at $15.00 – the top of its $13.00-to-$15.00 range. (The prospectus had called for 8.95 million ADS.)  The upsizing and high-end pricing reflect the strong demand for Structure’s IPO. The increase in the IPO’s size – and Structure’s surge in its opening trade – indicate the hunger of IPO investors for a traditional IPO with enough luster to deliver some dollars right out of the gate.

Jefferies, SVB Leerink, Guggenheim Partners and BMO Capital Markets were the joint book-runners of Structure Therapeutics, Inc.’s IPO.

Mineralys Therapeutics (MLYS proposed) is the next big biotech IPO in the wings. The anti-hypertension drug developer’s IPO is set for pricing late next week. Mineralys Therapeutics plans to offer 10 million shares at $14.00 to $16.00 to raise $150.0 million.

BofA Securities is leading the joint book-runners’ team for the Mineralys IPO. The line-up includes Evercore ISI, Stifel, Guggenheim Securities, Credit Suisse and Wells Fargo.

Stay tuned.

(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on’s website.)

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Disclosure: Nobody on the staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The staff does not issue advice, recommendations or opinions.

Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.