NVO - Structure Therapeutics' Stock Is Soaring on the Promise of Its Wegovy Competitor but Is It a Buy?
2024-06-09 07:30:00 ET
Structure Therapeutics (NASDAQ: GPCR) might have something cooking that could one day unseat the likes of Novo Nordisk 's (NYSE: NVO) Ozempic, a drug for type 2 diabetes, as well as its drug Wegovy, which is the same medicine but branded and indicated for treating obesity. This year, the biotech's stock is up by 33% thanks to new data from one of its pipeline programs that underlines the idea it could be competitive in the weight-loss market someday relatively soon.
Is the run-up mostly a result of the hype that seems to be the norm for anything weight-loss related, or is there a real chance of greatness lurking here? Let's dive in and analyze how it compares to the reigning champs.
Structure's program for treating obesity is called GSBR-1290, and it's the biotech's most mature candidate. Per the results of its phase 2a clinical trials, GSBR-1290 might have what it takes to beat the anti-obesity medicines on the market today.
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Structure Therapeutics' Stock Is Soaring on the Promise of Its Wegovy Competitor, but Is It a Buy?