The IPO Buzz: Structure Therapeutics Sets Terms for $125.3 Million IPO

Whoosh! Structure Therapeutics, Inc. (GPCR proposed) disclosed terms for its $125.3 million IPO early today (Monday, Jan. 30, 2023) and jumped onto the IPO Calendar. This deal – the first big biotech IPO of the year –  is scheduled to price Thursday night (Feb. 2, 2023) to trade Friday (Feb. 3, 2023) on the NASDAQ. In terms of the number of shares, the IPO’s size is fairly modest: 8.95 million American Depositary Shares (ADS) at $13.00 to $15.00. Jefferies, SVB Leerink, Guggenheim Securities and BMO Capital Markets are the joint book-runners.

Structure Therapeutics is a Cayman Islands-incorporated company with a South San Francisco address. The clinical biopharmaceutical company’s initial focus is on G-protein-coupled receptors, or GPCRs, as a therapeutic target class. Its proposed stock symbol – GPCR – matches its therapeutic focus. The company is developing GSBR-1290, its oral small molecule product candidate, to treat Type 2 diabetes (adult onset diabetes mellitus) and obesity.

The company began a Phase 1b multiple ascending dose (MAD) study of GSBR-1290, its leading drug candidate, in Type 2 diabetes mellitus (T2DM) and obesity in January. It plans to submit a protocol amendment to the FDA to transition to a Phase 2a proof-of-concept study in T2DM and obesity with expected initiation in the second half of 2023. Structure Therapeutics expects to report topline data for the Phase 1b study and the Phase 2a study in the second half of 2023, the prospectus says. 

Stay tuned.

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

Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board. 

To see what time the NASDAQ IPOs are expected to trade, please log in to: then scroll down to IPO Message. 

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.