NEW YORK, Jan 13, 2026, 12:18 EST — Regular session
- Structure Therapeutics shares jumped roughly 14% during midday trading on Nasdaq
- As the J.P. Morgan Healthcare Conference gets underway, investors are re-pricing oral obesity-drug stocks
- A recent SEC filing revealed a $100 million upfront patent license connected to Roche’s oral GLP-1 candidate
Shares of Structure Therapeutics climbed roughly 14% on Tuesday, adding to the stock’s recent swings. The move came as investors took a fresh look at the company’s newly announced patent licensing deal with Roche’s Genentech. (Reuters)
This shift is significant as major drugmakers ramp up their push for obesity pills. Investors have been flocking to smaller, riskier companies poised to gain if these treatments capture a larger slice of the market than previously anticipated.
At this week’s J.P. Morgan Healthcare Conference in San Francisco, Novo Nordisk said pills could account for “a third-plus” of the GLP-1 obesity market by 2030, a faster growth trajectory than previously expected. (Reuters)
Structure’s U.S.-listed shares jumped to about $79.24, soaring $9.88 above Monday’s close, having hit an intraday peak close to $79.57, per LSEG data. The stock kicked off trading at $69.
On Jan. 5, Structure disclosed that its fully owned subsidiary Gasherbrum Bio inked a deal on Dec. 30. The agreement grants Genentech and Roche a non-exclusive, sublicensable patent license related to CT-996, an oral GLP-1 receptor agonist that Genentech owns. (Sec)
According to the filing, Genentech must pay Gasherbrum a one-time, non-refundable $100 million within 30 days of signing the agreement. Additionally, Gasherbrum will receive “low single digit” royalties on net sales of CT-996 products in the covered countries.
Structure added that the license does not “encumber” its ongoing programs, which include its lead oral GLP-1 candidate aleniglipron and oral amylin receptor agonists.
GLP-1 drugs replicate a gut hormone that suppresses appetite and controls blood sugar. Market leaders Novo and Eli Lilly have established their dominance with injections, but now both are racing to develop pills to broaden access and protect their market share.
The Genentech deal centers on patent rights, not a co-development partnership, posing a risk for Structure. Royalties hinge on Roche successfully navigating trials and bringing the program to market, while Structure’s obesity pipeline remains subject to typical clinical and regulatory hurdles.
Investors are keen to see if momentum from this week’s conference carries over, especially when the $100 million upfront payment is expected to hit, per the filing. They’ll also be looking for more specifics once the company submits the full agreement as an exhibit with its annual report. (Jpmorgan)
