A GLP-1-based drug from Structure Therapeutics shows clinical promise but not enough for some on Wall Street.
Pictured: Illustration of stock price dropping/iStock, coffeekai
As the GLP-1 race continues to dominate the headlines, Structure Therapeutics’ latest data drop for its candidate has come with some mixed reactions—and a 51% drop in its stock price on Monday morning.
On Monday, Structure released results from its Phase IIa trial investigating its oral GLP-1 receptor agonist, GSBR-1290, in 94 patients. Structure touted that it had reached the primary endpoint of safety and tolerability and had reduced weight. Additionally, those with type 2 diabetes had a slight reduction in HbA1c levels, a measure of average blood glucose levels, at week 12.
However, the reduction in average blood glucose was less than analysts expected, Endpoints News reported. In addition, Structure CEO Raymond Stevens told Endpoints that the weight loss among patients with type 2 diabetes was “on the lower end” of what the company was expecting.
Nonetheless, Stevens was touting the results and the achievement of reaching statistical significance.
“We are pleased that we have achieved the objectives of our first Phase 2a clinical trial of GSBR-1290 in T2DM patients, which were to demonstrate favorable safety, tolerability, and efficacy results and guide our plans to optimize the already encouraging performance of GSBR-1290 further,” Stevens said in a statement. “Our data demonstrated that once-daily GSBR-1290 has the potential to be a best-in-class compound and a backbone for future combinations that could address large cardiometabolic indications.”
The trial had no serious adverse effects, with nausea and vomiting being the most common. The company is planning Phase IIb studies of the GSBR-1290 candidate in the second half of 2024. Structure plans to enroll around 275 people in the U.S. and Europe.
“The unmet medical need for both T2DM and chronic weight management continues to be very large, and the GLP-1 receptor is a target with considerable potential,” David D’Alessio, chief of the Division of Endocrinology and Metabolism at Duke University, said in a statement.
Structure Therapeutics showed positive results with its GLP-1 drug just a few months ago. In October, Phase Ib results showed around a 4.9kg reduction in mean body weight from the baseline and a max of 4.9% placebo-adjusted weight loss, causing a massive spike in its stock price.
However, Structure’s latest data comes as the competition from big and small players in the GLP-1 space is heating up. In December, Fractyl Health showed its GLP-1 candidate having reduced body weight, while Roche entered the GLP-1 sector with a $2.7 billion deal to acquire Carmot Therapeutics.
Tyler Patchen is a staff writer at BioSpace. You can reach him at tyler.patchen@biospace.com. Follow him on LinkedIn.
