SEC Form 424B4 filed by Structure Therapeutics Inc.
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Per ADS
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Total
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Public offering price
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| | | $ | 52.50 | | | | | $ | 476,016,030.00 | | |
Underwriting discounts and commissions(1)
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| | | $ | 3.15 | | | | | $ | 28,560,961.80 | | |
Proceeds to Structure Therapeutics Inc., before expenses
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| | | $ | 49.35 | | | | | $ | 447,455,068.20 | | |
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| | | | | 16 | | | |
| | | | | 22 | | | |
| | | | | 24 | | | |
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| | | | | 41 | | | |
| | | | | 56 | | | |
| | | | | 64 | | | |
| | | | | 70 | | | |
| | | | | 70 | | | |
| | | | | 70 | | | |
| | | | | 71 | | |
ADSs
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YEAR ENDED
DECEMBER 31, |
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THREE MONTHS ENDED
MARCH 31, |
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2022
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2023
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2023
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2024
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(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
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Statements of Operations Data: | | | | | | | | | | | | | | | | | | | | | | | | | |
Operating expenses: | | | | | | | | | | | | | | | | | | | | | | | | | |
Research and development
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| | | $ | 36,193 | | | | | $ | 70,103 | | | | | $ | 13,135 | | | | | $ | 20,679 | | |
General and administrative
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| | | | 16,368 | | | | | | 32,672 | | | | | | 6,514 | | | | | | 11,336 | | |
Total operating expenses
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| | | | 52,561 | | | | | | 102,775 | | | | | | 19,649 | | | | | | 32,015 | | |
Loss from operations
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| | | | (52,561) | | | | | | (102,775) | | | | | | (19,649) | | | | | | (32,015) | | |
Interest and other income (expense), net
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| | | | 1,257 | | | | | | 13,391 | | | | | | 1,699 | | | | | | 6,008 | | |
Loss before provision for income taxes
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| | | | (51,304) | | | | | | (89,384) | | | | | | (17,950) | | | | | | (26,007) | | |
Provision for income taxes
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| | | | 17 | | | | | | 236 | | | | | | 25 | | | | | | 29 | | |
Net loss
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| | | $ | (51,321) | | | | | $ | (89,620) | | | | | $ | (17,975) | | | | | $ | (26,036) | | |
Net loss per share attributable to ordinary shareholders, basic and diluted
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| | | $ | (5.51) | | | | | $ | (0.81) | | | | | $ | (0.25) | | | | | $ | (0.19) | | |
Weighted-average shares, basic and ordinary shares used in computing net loss per share attributable to ordinary shareholders, basic and diluted(1)
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| | | | 9,584 | | | | | | 110,198 | | | | | | 71,655 | | | | | | 139,710 | | |
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AS OF MARCH 31, 2024
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ACTUAL
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AS ADJUSTED(1)
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(IN THOUSANDS)
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Balance Sheet Data: | | | | | | | | | | | | | |
Cash, cash equivalents and short-term investments
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| | | $ | 436,449 | | | | | $ | 882,404 | | |
Working capital(2)
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| | | | 425,774 | | | | | | 871,729 | | |
Total assets
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| | | | 457,225 | | | | | | 903,180 | | |
Total liabilities
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| | | | 27,407 | | | | | | 27,407 | | |
Accumulated deficit
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| | | | (232,608) | | | | | | (232,608) | | |
Total shareholders’ equity
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| | | | 429,818 | | | | | | 875,773 | | |
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AS OF MARCH 31, 2024
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ACTUAL
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AS ADJUSTED
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(IN THOUSANDS,
EXCEPT SHARE AND PER SHARE AMOUNTS) |
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Cash, cash equivalents and short-term investments
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| | | $ | 436,449 | | | | | $ | 882,404 | | |
Shareholders’ equity: | | | | | | | | | | | | | |
Undesignated shares, $0.0001 par value; 100,000,000 shares authorized as of
March 31, 2024 |
| | | | — | | | | | | — | | |
Ordinary shares, $0.0001 par value; 500,000,000 shares authorized as of
March 31, 2024, 139,856,287 shares issued and outstanding as of March 31, 2024, actual; and 167,057,203 shares issued and outstanding as of March 31, 2024, as adjusted |
| | | | 14 | | | | | | 17 | | |
Additional paid-in capital
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| | | | 662,502 | | | | | | 1,108,454 | | |
Accumulated other comprehensive (loss) income
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| | | | (90) | | | | | | (90) | | |
Accumulated deficit
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| | | | (232,608) | | | | | | (232,608) | | |
Total shareholders’ equity
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| | | | 429,818 | | | | | | 875,773 | | |
Total capitalization
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| | | $ | 429,818 | | | | | $ | 875,773 | | |
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Public offering price per ADS
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| | | | | | | | | $ | 52.50 | | |
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Historical net tangible book value per ADS as of March 31, 2024
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| | | $ | 9.22 | | | | | | | | |
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Increase in as adjusted net tangible book value per ADS attributable to new investors participating in this offering
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| | | | 6.51 | | | | | | | | |
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As adjusted net tangible book value per ADS after this offering
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| | | | | | | | | | 15.73 | | |
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Dilution per ADS to new investors purchasing shares in this offering
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| | | | | | | | | $ | 36.77 | | |
Underwriters
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Number of
ADSs |
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Goldman Sachs & Co. LLC
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| | | | 2,538,752 | | |
Morgan Stanley & Co. LLC
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| | | | 2,538,752 | | |
Jefferies LLC
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| | | | 1,496,050 | | |
Leerink Partners LLC
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| | | | 1,405,381 | | |
Guggenheim Securities, LLC
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| | | | 634,688 | | |
BMO Capital Markets Corp.
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| | | | 453,349 | | |
Total
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| | | | 9,066,972 | | |
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No Exercise
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Full Exercise
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Per ADS
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| | | $ | 3.15 | | | | | $ | 3.15 | | |
Total
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| | | $ | 28,560,961.80 | | | | | $ | 32,845,103.55 | | |