Structure Therapeutics (GPCR) Jefferies Global Healthcare Conference 2026 summary

Market landscape and trends

• Oral GLP-1 therapies have rapidly gained traction, capturing 12–14% of the market within five months, with expectations to reach 30–50% market share as demand for oral options grows globally.

• The market is segmenting into oral pills and once-a-month injectables, with orals seen as the preferred route for many patients.

• 80% of new prescriptions for oral GLP-1s are from new patients, indicating significant market expansion rather than cannibalization of injectables.

• High discontinuation rates (85% after two years) for weekly injectables highlight the need for long-term maintenance solutions.

• Regulatory focus is shifting toward long-term maintenance, with new FDA guidelines emphasizing chronic care to avoid weight cycling.

Pipeline progress and clinical data

• Aleniglipron demonstrated best-in-class efficacy (16% weight loss, no plateauing) and is advancing to phase III in Q3, supported by extensive phase II data.

• The ACCESS study, with a 72-week extension, will be presented at ADA, focusing on patient journey and cumulative adverse events.

• Nearly 90% of participants opted into the open-label extension, indicating strong drug acceptance and low discontinuation.

• Amylin ACCG-2671 is completing phase I, with phase IIa (12-week) studies planned, and non-human primate data to be shared at ADA.

• Combination studies of GLP-1 and Amylin are set to begin, leveraging the flexibility of small molecules to optimize dosing ratios.

Competitive positioning and strategy

• Multiple phase II studies provide a robust foundation for phase III, with a strategy to avoid surprises by knowing key answers before pivotal trials.

• The company is positioned as a portfolio player, not just a single-asset entity, with both GLP-1 and Amylin programs seen as future value drivers.

• The IP portfolio is described as a significant moat, with more GLP-1 intellectual property than all pharma competitors combined, and an aggressive strategy for Amylin.

• Structure-based drug discovery and chemistry resources in Shanghai underpin the IP and development strategy.

• Partnerships are expected to be influenced by the breadth of the portfolio, especially as Amylin data matures.