Structure Therapeutics Reports $61.7 Million Net Loss in Q2 2025, Increases R&D Spending

Structure Therapeutics Inc. reported significant financial results for the second quarter of 2025, revealing a net loss of $61.7 million, compared to a loss of $26.0 million in the same period of the previous year. For the six months ending June 30, 2025, the company recorded a net loss of $108.5 million, up from $52.1 million in the first half of 2024. The increase in losses is attributed primarily to a substantial rise in operating expenses, which totaled $70.5 million for the quarter and $126.8 million for the half-year, reflecting a 112% increase year-over-year. Research and development expenses surged to $54.7 million for the quarter, driven by costs associated with clinical trials and preclinical research.

In terms of liquidity, Structure Therapeutics reported cash, cash equivalents, and short-term investments totaling $786.5 million as of June 30, 2025. This figure represents a decrease from $903.3 million at the end of 2024, largely due to the company's ongoing investments in research and development. The company has not yet generated any revenue from product sales, as it remains focused on advancing its clinical pipeline, which includes its lead candidate, aleniglipron, currently in Phase 2 studies for obesity treatment.

Strategically, Structure Therapeutics has made notable advancements in its clinical programs. The company has initiated several Phase 2 studies for aleniglipron, including a maintenance switching strategy from injectable GLP-1 receptor agonists to its oral formulation. Additionally, the company is advancing its amylin receptor agonist program, with plans to initiate a Phase 1 study for ACCG-2671 by the end of 2025. The company also announced extensions to its ongoing studies, allowing for longer-term data collection on the efficacy and safety of aleniglipron.

Operationally, Structure Therapeutics has expanded its workforce to support its growing clinical and administrative needs, resulting in increased general and administrative expenses, which rose to $15.7 million for the quarter. The company continues to rely on third-party manufacturers for its clinical drug supply, which it believes will enhance operational efficiency. Looking ahead, Structure Therapeutics anticipates continued significant operating losses as it invests in its research and development activities, with plans to seek additional funding to support its clinical programs and operational growth. The company expects its current cash reserves to be sufficient to fund operations through at least 2027, excluding Phase 3 registrational studies.