Structure Therapeutics Inc. has set terms for its initial public offering (IPO), as the California-based biopharmaceutical company developing oral therapeutics looks to raise up to $134.25 million. The company is offering 8.95 million American depositary shares (ADS), representing 26.85 million ordinary shares, in the IPO, which is expected to price between $13 and $15 per ADS. With 104.39 million ordinary shares expected to be outstanding after the IPO, the expected pricing would value the company at about $521.97 million. The stock is expected to trade on the Nasdaq exchange under the ticker symbol “GPCR.” Jefferies, SVB Securities, Guggenheim Securities and BMO Capital Markets are the underwriters. The company reported a loss of $39.45 million and no revenue for the nine months through Sept. 30, after a loss of $24.69 million on no revenue over the same period a year ago. Structure is looking to go public at a time when the Renaissance IPO exchange-traded fund IPO has gained 1.9% over the past three months, while the S&P 500 SPX has advanced 4.3%.
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