Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Transition Period From To Commission file number: 001-41608 Structure Therapeutics Inc. (Exact name of registrant as specified in its charter) | Cayman Islands 98-1480821 | | --- ...

Structure Therapeutics Reports Fourth Quarter and Full Year 2025 Financial Results and Recent Highlights Positive results from the aleniglipron Phase 2 ACCESS programs in December 2025 demonstrated significant weight loss across all doses and up to 15.3% at 36 weeks Topline 44-week data from the ACCESS II study with higher doses expected in Q1 2026 Exhibit 99.1 Aleniglipron Phase 3 initiation expected in 2H 2026 Initial data from the ongoing Phase 1 study of oral small molecule amylin receptor agonist ACCG- ...

Positive results from the aleniglipron Phase 2 ACCESS programs in December 2025 demonstrated significant weight loss across all doses and up to 15.3% at 36 weeks Topline 44-week data from the ACCESS II study with higher doses expected in Q1 2026 Aleniglipron Phase 3 initiation expected in 2H 2026 Initial data from the ongoing Phase 1 study of oral small molecule amylin receptor agonist ACCG-2671 and Phase 1 initiation of second oral amylin compound ACCG-3535 expected in 2H 2026 Cash, cash equivalents and s ...

Schrödinger (NasdaqGS:SDGR) Q4 2025 Earnings call February 25, 2026 04:30 PM ET Company ParticipantsConor MacKay - Equity Research AssociateJaren Madden - Chief Corporate Affairs Officer and Head of Investor RelationsKaren Akinsanya - President, Head of Therapeutics R&D, and Partnerships Chief Strategy OfficerRamy Farid - CEORichie Jain - CFONone - Company RepresentativeNone - Company RepresentativeNone - Company RepresentativeNone - Company RepresentativeConference Call ParticipantsBrendan Smith - Director ...

Schrödinger (NasdaqGS:SDGR) Q4 2025 Earnings call February 25, 2026 04:30 PM ET Speaker7Thank you for standing by. Welcome to Schrödinger's conference call to review fourth quarter and full year 2025 financial results. My name is Rob. I'll be your operator for today's call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star, then 1 on your telepho ...

Core Insights - Structure Therapeutics Inc. is characterized as a GLP-1 oral medication company, indicating its focus on innovative therapeutic solutions in the pharmaceutical sector [1]. Company Overview - Structure Therapeutics Inc. operates within the biopharmaceutical industry, specifically targeting the development of oral GLP-1 therapies, which are significant in the treatment of metabolic disorders [1]. Investment Perspective - The analysis emphasizes a fundamentals-first approach to investment, suggesting that despite the prevalence of algorithm-driven trading, understanding the underlying business fundamentals remains crucial for identifying mispriced assets [1].

Core Insights - The obesity drug market is evolving beyond just weight loss efficacy, focusing on a wider range of treatment options and improved patient access [2][3][7] Treatment Options - Executives predict a shift from a one-size-fits-all approach to personalized treatments, including pills, less frequent injections, and combination therapies [3][4] - Novo Nordisk and Eli Lilly are leading the market with GLP-1 injections, while new oral options are being introduced to cater to different patient needs [4][11] - Combination regimens are expected to enhance treatment effectiveness, targeting various obesity-related conditions [16][18] Market Access - Access to GLP-1 treatments has improved, with price reductions and upcoming Medicare coverage for obesity drugs anticipated to increase patient access [6][30][31] - The direct-to-consumer market is projected to grow significantly, potentially comprising a large portion of the obesity drug market [32][33] Market Potential - The weight loss and diabetes drug market could reach nearly $100 billion annually by the end of the decade, driven by increased treatment options and access [7] - Current estimates suggest that 25 to 50 million U.S. patients could be using GLP-1s by 2030, indicating substantial growth potential [8] Innovative Approaches - Companies are exploring new methods for weight loss, such as targeting fat burning rather than appetite suppression, with the aim of preserving muscle mass [22][24] - Lilly's retatrutide, which mimics multiple hunger-regulating hormones, has shown promising results in trials, achieving over 28% weight loss in patients [26][27]

Core Viewpoint - The article discusses the promising future of Structure Therapeutics and its oral GLP-1 drug, aleniglipron, in the obesity treatment market, particularly in light of recent developments and upcoming phase three trials [2][3][4]. Company Overview - Structure Therapeutics is preparing for phase three trials of its daily oral GLP-1 drug, aleniglipron, which has shown significant weight loss results in earlier trials [3][4]. - The company's shares increased by over 100% following the release of midstage data indicating that aleniglipron helped patients lose more than 11% of their weight at 36 weeks [3]. Competitive Landscape - Structure's aleniglipron is positioned as "next in line" in the market after Novo Nordisk's approved pill and an upcoming oral drug from Eli Lilly [4]. - The drug's efficacy is highlighted, with a higher 240-milligram dose showing up to 15.3% weight loss at 36 weeks, compared to competitors reporting similar results over longer periods [6]. Key Advantages - The company emphasizes four competitive advantages: 1. Efficacy demonstrated in trials [6]. 2. Safety, with no drug-related liver injuries reported [7]. 3. Low manufacturing costs, allowing for large-scale production [7]. 4. The ability to combine aleniglipron with other treatments for enhanced effects [8]. Market Potential - There is a significant market opportunity, with 100 million people in the U.S. needing obesity treatment, yet only about 5 million currently receiving injections [9]. - Oral medications like aleniglipron are expected to expand the market, particularly through primary care physicians who prefer prescribing pills [9][10]. Future Outlook - The future of the obesity drug market may focus on combination therapies to address various health conditions alongside obesity [11]. - The company anticipates improvements in access and affordability, with recent price cuts from competitors and upcoming Medicare coverage for obesity drugs [12]. - Structure Therapeutics aims to address a large unmet need globally, even if it means accepting lower prices for their products [13].

Core Insights - Structure Therapeutics Inc. is focused on developing innovative treatments for obesity, specifically seeking approval for its experimental weight-loss pill, aleniglipron, which is similar to Eli Lilly's orforglipron but has a shorter half-life [1] - Goldman Sachs has set a price target of $102 for GPCR, suggesting a potential price increase of approximately 15.07% from its current price of $88.64, following the release of promising topline data from the ACCESS clinical program [2][5] - The Phase 2b ACCESS study showed that aleniglipron achieved a statistically significant placebo-adjusted mean weight loss of 11.3% at the 120 mg dose over 36 weeks [2][5] Company Challenges - The company faces a 10.4% adverse event-related treatment discontinuation rate across all active arms of the study, indicating potential safety concerns [3] - The CEO has expressed worries about competition from compounded copycat versions of weight-loss drugs, which poses a threat to new obesity treatments [3] - The competitive landscape of the obesity drug market is complex, highlighting the challenges that Structure Therapeutics must navigate [3] Market Performance - Currently, GPCR is trading at $88.64, with a recent price change of $3.62, marking a 4.26% increase [4] - The stock has fluctuated between a low of $84.71 and a high of $92.85 in the current trading session, with a yearly high of $94.90 and a low of $13.22 [4] - The company's market capitalization is approximately $5.1 billion, with a trading volume of 1,623,455 shares [4]

Industry Overview - The drug and biotech sector regained momentum in the latter part of 2025 after a weak first half, setting the stage for a strong year for select stocks [1] - Improved policy clarity following drug pricing agreements with the Trump administration reduced uncertainty, while a rebound in mergers and acquisitions revived investor appetite for risk [1] - Innovation accelerated across high-growth areas such as obesity, gene therapy, inflammation, and neuroscience, with the FDA approving 43 novel therapies as of December 22, 2025 [2] Company Highlights Ionis Pharmaceuticals - Ionis Pharmaceuticals' shares surged 127.6% in 2025, significantly outperforming the industry growth of 5% [5][6] - The company advanced its wholly-owned portfolio, highlighted by the FDA approval of Tryngolza for familial chylomicronemia syndrome, generating $57.4 million in sales in the first nine months of 2025 [9] - Ionis is evaluating Tryngolza in late-stage studies for severe hypertriglyceridemia, with plans to file for FDA label expansion soon [10] - The FDA approved Ionis' second drug, Dawnzera, for hereditary angioedema, with a regulatory filing in the EU expected in early 2026 [11] Structure Therapeutics - Structure Therapeutics' shares surged 127.2% in the past year, compared to the industry's 15.6% growth [13] - The stock rally was driven by positive data from the ACCESS clinical program for aleniglipron, showing up to 15.3% placebo-adjusted weight loss [15][16] - The company plans to initiate phase III development for aleniglipron in mid-2026 and is also developing other candidates for obesity treatment [18] Monopar Therapeutics - Monopar Therapeutics' shares rallied 185.9% in the past year, significantly outperforming the industry [20] - The stock price increase was fueled by positive expectations regarding its lead candidate ALXN-1840 for Wilson disease, following a licensing agreement with AstraZeneca [22] - Monopar plans to submit a regulatory filing with the FDA in early 2026 based on favorable long-term data for ALXN-1840 [26] Kodiak Sciences - Kodiak Sciences' shares rallied 181.1% in the past year, contrasting with the industry's 15.7% decline [27] - The stock's performance reflects growing investor confidence in its late-stage pipeline assets, particularly tarcocimab and KSI-501 [29] - Kodiak plans to submit a regulatory filing for tarcocimab for multiple indications, with top-line data from pivotal studies expected in 2026 [31][33]