Shares of Structure Therapeutics Inc. (NASDAQ:GPCR) soared 5.12% in Friday's intraday trading session, as investors cheered the biopharmaceutical company's promising progress with its lead obesity drug candidate.

Structure Therapeutics is a clinical-stage company focused on developing innovative oral treatments for chronic metabolic conditions like obesity. Its lead product GSBR-1290 is an oral small molecule targeting the GLP-1 receptor, a proven pathway for potential weight loss and metabolic benefits.

The company recently announced positive developments for GSBR-1290, including the initiation of two Phase 2 clinical trials (ACCESS and ACCESS II) to evaluate optimal dosing and efficacy in overweight and obese adults. Initial data has shown encouraging weight loss signals, with up to 4.9% placebo-adjusted reduction in body weight after just 28 days in a Phase 1 study.

Supporting its robust clinical pipeline, Structure Therapeutics reported a strong financial position with $915.3 million in cash and investments as of September 30, 2024. This is projected to fund operations and key clinical milestones for GSBR-1290 until at least 2027.

According to analysts' estimates, Structure Therapeutics ranks among the top NASDAQ stocks with the highest upside potential of over 185%. Investors are clearly optimistic about GSBR-1290's potential to become a best-in-class oral therapy for the large and underserved obesity market.