Structure Therapeutics surges 80% in debut after IPO upsize

Schrodinger

03/02/2023 17:05

** Structure Therapeutics Inc  GPCR.O  surges on Fri after
well-received IPO
    ** GPCR opens at $25.00, rises as high as $27.46, 83% above
$15 IPO price. Shares last up 73.3% at $25.99
    ** Diabetes and obesity drug developer sells 10.74 mln
American depositary shares (ADSs), raises $161 mln  urn:newsml:reuters.com:*:nGNX3DJdmx
    ** Offering size boosted from 8.95 mln ADSs, prices at top
of $13-$15 filed range
    ** San Francisco-based Structure has R&D operations in
Shanghai, China, and partnership with Schrodinger Inc  SDGR.O ,
its co-founder and drug discovery software firm (See prospectus
filing)
    ** Jefferies, SVB Secs, Guggenheim and BMO jt bookrunners
for IPO
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))