Structure Therapeutics Inc
GPCRHealthcare|Biotechnology|USA
$53.38
-1.79 (-3.25%)
Tangible Book
$20.36
Financials
Financial Snapshot
Market Cap
$3.79B
Enterprise Value
$1.45B
Revenue (TTM)
$0.00
Net Income (TTM)
$-170.3M
Cash & Equivalents
—
Net Cash/Share
$19.66
Free Cash Flow (TTM)
$-159.2M
Operating CF (TTM)
$-154.7M
Debt/Equity
0
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$38.7M
Monthly Burn
$12.9M
Est. Runway
—
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $37.4M | $107.3M | $90.8M | $467.3M | $883.5M | $1.45B | $1.46B | |
| Operating Cash Flow | $-14.3M | $-32.2M | $-46.1M | $-79.5M | $-116.6M | $-222.2M | $-154.7M | |
| Free Cash Flow | $-14.3M | $-33.4M | $-46.3M | $-81.7M | $-117.9M | $-225.8M | $-159.2M | |
| Capital Expenditure | $-19.0K | $-1.2M | $-155.0K | $-2.2M | $-1.3M | $-3.6M | $-4.5M | |
| Financing Cash Flow | $25.8M | $103.3M | $29.0M | $451.5M | $515.3M | $762.5M | $760.0M |
R&D Spending
R&D (TTM)
$248.9M
R&D Intensity
—
R&D Growth YoY
+10.5%
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $12.4M | $29.1M | $36.2M | $70.1M | $108.8M | $225.3M | $248.9M | |
| R&D % of Revenue | — | — | — | — | — | — | — | |
| SG&A | $3.5M | $8.6M | $16.4M | $32.7M | $49.4M | $61.6M | $71.0M |
Income Statement
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D | $12.4M | $29.1M | $36.2M | $70.1M | $108.8M | $225.3M | $248.9M | |
| SG&A | $3.5M | $8.6M | $16.4M | $32.7M | $49.4M | $61.6M | $71.0M | |
| Operating Income | $-15.9M | $-37.7M | $-52.6M | $-102.8M | $-158.2M | $-186.8M | $-219.9M | |
| Interest Expense | $0.00 | $-122.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | $-15.7M | $-37.8M | $-51.3M | $-89.4M | $-122.2M | $-140.7M | $-169.7M | |
| Net Income | $-16.0M | $-40.0M | $-51.3M | $-89.6M | $-122.5M | $-141.2M | $-170.3M | |
| EPS (Diluted) | -0.64 | -1.72 | -1.38 | -2.43 | -2.34 | -2.40 | -2.77 | |
| EBITDA | $-15.9M | $-37.6M | $-52.3M | $-102.5M | $-157.2M | $-185.5M | $-218.2M | |
| Shares Out. (M) | 25.05 | 25.48 | 38.24 | 36.73 | 52.64 | 59.20 | 72.44 |
Balance Sheet
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $16.4M | $105.3M | $26.1M | $129.8M | $169.5M | $799.6M | $316.2M | |
| Marketable Securities | $21.1M | $2.0M | $64.8M | $337.5M | $714.0M | $646.6M | $1.14B | |
| Total Current Assets | $38.4M | $109.3M | $93.1M | $473.6M | $891.2M | $1.57B | $1.49B | |
| Total Assets | $38.7M | $111.2M | $97.8M | $482.0M | $903.3M | $1.58B | $1.51B | |
| Total Current Liabilities | $3.0M | $8.7M | $13.0M | $24.7M | $36.0M | $63.3M | $57.0M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $61.2M | $175.9M | $213.0M | $29.1M | $38.5M | $67.5M | $61.0M | |
| Stockholders' Equity | $-22.5M | $-64.7M | $-115.1M | $453.0M | $864.8M | $1.52B | $1.45B | |
| Retained Earnings | $-22.9M | $-64.7M | $-117.0M | $-206.6M | $-329.1M | $-470.3M | $-546.3M |
Cash Flow Statement
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-14.3M | $-32.2M | $-46.1M | $-79.5M | $-116.6M | $-222.2M | $-154.7M | |
| Capital Expenditure | $-19.0K | $-1.2M | $-155.0K | $-2.2M | $-1.3M | $-3.6M | $-4.5M | |
| Free Cash Flow | $-14.3M | $-33.4M | $-46.3M | $-81.7M | $-117.9M | $-225.8M | $-159.2M | |
| Investing Cash Flow | $-21.1M | $17.9M | $-62.1M | $-268.3M | $-358.9M | $89.8M | $-441.2M | |
| Financing Cash Flow | $25.8M | $103.3M | $29.0M | $451.5M | $515.3M | $762.5M | $760.0M | |
| Issuance of Stock | $0.00 | $0.00 | $0.00 | $472.3M | $514.6M | $665.7M | $665.7M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $570.0K | $1.5M | $2.5M | $8.2M | $18.8M | $29.0M | $34.7M | |
| Net Change in Cash | $-9.6M | $89.0M | $-79.2M | $103.7M | $39.7M | $630.1M | $164.0M |
Dilution Tracker
Shares outstanding grew 184.3% over 5 years — significant dilution
Shares Outstanding
72M
5-Year Share Growth
+184.3%
Stock Issuance (TTM)
$665.7M
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 25.05 | 25.48 | 38.24 | 36.73 | 52.64 | 59.20 | 72.44 | |
| YoY Change % | — | 1.7% | 50.1% | -3.9% | 43.3% | 12.5% | 22.4% | |
| Stock Issuance | $0.00 | $0.00 | $0.00 | $472.3M | $514.6M | $665.7M | $665.7M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $570.0K | $1.5M | $2.5M | $8.2M | $18.8M | $29.0M | $34.7M |
Margins & Profitability
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| Net Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| EBITDA Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| FCF Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| ROE % | 0.0% | 0.0% | 0.0% | -53.1% | -18.6% | -11.9% | -16.0% | |
| ROA % | -41.4% | -53.4% | -49.1% | -30.9% | -17.7% | -11.4% | -15.2% | |
| R&D / Revenue | - | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / At Loss / At Loss
Industry Med.27.51
P/S—
Historical— / — / —
Industry Med.9.49
P/B2.62
Historical— / — / 2.62
Industry Med.2.93
EV/EBITDA-10.73
Historical-10.73 / — / —
Industry Med.13.02
EV/Revenue—
Historical— / — / —
Industry Med.8.59
P/FCF—
Historical— / — / —
Industry Med.27.13
Intrinsic Value Models
Tangible Book
$20.36
Net Current Assets
$20.120
Net-Net Working Capital
$19.66
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| PE Ratio | N/A | N/A | N/A | At Loss | At Loss | At Loss | At Loss | |
| PS Ratio | - | - | - | - | - | - | 0.00 | |
| PB Ratio | 0.00 | 0.00 | 0.00 | 4.18 | 1.80 | 3.25 | 2.62 | |
| EV/EBITDA | 0.00 | 0.00 | 0.00 | -13.95 | -4.29 | -18.80 | -10.73 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
—
Distress
Piotroski F-Score
4
Moderate
Beneish M-Score
—
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $0.00M | $0.00M | $149.12M |
| Net Income | $-354.79M | $-439.49M | $-450.97M |
| EPS | -1.66 | -2.14 | -2.18 |
| Book Value per Share | 11.08 | 7.55 | 2.62 |
| Operating Cash Flow per Share | -3.10 | -5.22 | 0.00 |
| Operating CF | $-224.57M | $-378.15M | $0.00M |