Lilly obesity pill approval creates an opening for Structure's drug, says H.C. Wainwright

Structure Therapeutics

02/04/2026 16:57

** H.C. Wainwright says Eli Lilly's FDA approval of Foundayo is a positive development for drug developer Structure Therapeutics' GPCR.O oral obesity program

** Brokerage maintains a "buy" rating and PT of $100 on GPCR shares

** Says the approval helps define the oral obesity drug market, but Foundayo's partial GLP-1 agonist label suggests limits on weight loss, leaving room for next-generation pills such as GPCR's aleniglipron

** Says aleniglipron delivered 16.3% placebo-adjusted weight loss at 44 weeks, versus 12.4% for Foundayo at 72 weeks, and had a lower discontinuation rate

** Says that could position aleniglipron not just as a first-line pill, but also as a possible follow-up treatment after patients lose weight on injectables

** "We think aleniglipron is a more compelling step-down maintenance option than Foundayo because patients switching from Zepbound or Wegovy might experience materially less regain on a 16% plus drug than a 12% drug" H.C. Wainwright says

** Says lower pricing for Lilly's pill could expand the oral obesity market by bringing in more patients, which could also help GPCR if its pill reaches the market

** Including session's move, GPCR shares down 22.3% YTD

 (Reporting by Kunal Das in Bengaluru)

 ((Kunal.Das2@thomsonreuters.com;))