Structure Therapeutics(US:GPCR)2024-03-08 13:43Financial Performance - Year-end cash balance of $467.3 million expected to fund operations and key clinical milestones through at least 2026[3] - Research and development (R&D) expenses for Q4 2023 were $20.0 million, up from $8.4 million in Q4 2022, and total R&D expenses for the year were $70.1 million, compared to $36.2 million in 2022[9] - General and administrative (G&A) expenses for Q4 2023 were $11.0 million, compared to $4.6 million in Q4 2022, with total G&A expenses for the year at $32.7 million, up from $16.4 million in 2022[11] - Net loss for Q4 2023 totaled $24.5 million, compared to $11.9 million in Q4 2022, with a total net loss for the year of $89.6 million, up from $51.3 million in 2022[12] - The company raised approximately $485.0 million in equity capital in 2023, including $185.0 million from an IPO and $300.0 million from a private placement[7] - Total current assets increased to $473.6 million in 2023 from $93.1 million in 2022, while total liabilities rose to $29.1 million from $13.0 million[18] Clinical Development - Phase 2a study data for GSBR-1290 in obesity expected in the latter half of Q2 2024, with a Phase 2b study planned to begin in Q4 2024[1] - Interim Phase 2a data from the obesity cohort showed significant weight reduction at 8 weeks, with low discontinuation rates due to adverse events (0% in obesity)[4] - The company is developing LTSE-2578 for idiopathic pulmonary fibrosis (IPF) and expects to initiate a first-in-human study in Q2 2024[6] - The company plans to select a development candidate for its oral small molecule amylin program in the second half of 2024[10]