Structure CEO Ray Stevens talks its obesity drug portfolio

Watch on YouTube ↗  |  January 15, 2026 at 23:10  |  5:51  |  CNBC
Speakers
Ray Stevens — CEO, Structure Therapeutics
Melissa Lee — Host, Fast Money

Summary

Ray Stevens, CEO of Structure Therapeutics, joined Fast Money to discuss the obesity drug market and his company's pipeline. He highlighted the massive unmet need in obesity, estimated at a $100-150 billion market, and argued Structure's oral small molecule GLP-1 and amylin candidates could be best-in-class despite Novo and Lilly's first-mover advantage. Stevens also said the company has $1.5 billion in capital to fund Phase 3 and beyond, and declined to comment on M&A speculation involving Merck or Novo.

  • Structure Therapeutics CEO Ray Stevens discusses obesity drug portfolio.
  • Obesity described as a pandemic with over 100 million U.S. patients and only 5 million treated.
  • Obesity drug market estimated at $100-150 billion annually with adjacent disease benefits.
  • Structure has $1.5B pro forma capital, runway to end-2028 for Phase 3.
  • Lead oral GLP-1 candidate ELENI in Phase 3 for chronic weight management.
  • Oral amylin candidate HCG 2671 advancing to Phase 2.
  • Management sees best-in-class profile in efficacy, safety, manufacturing, combinability.
  • Declined to comment on M&A speculation with Merck or Novo.
Ideas
Ray Stevens CEO, Structure Therapeutics 1:13
Obesity drug market has massive unmet need
Obesity is a pandemic that is only now being recognized, with estimates by 2033 of 3 billion overweight people globally and 1 billion obese, including more than 100 million in the U.S. Only about 5 million patients are currently served based on prescription data, creating a massive unmet need. The obesity drug market is a $100-150 billion annual opportunity and also impacts adjacent diseases such as cardiovascular, liver disease, chronic kidney disease, and some oncology, drawing major pharmaceutical interest.
OZEM HIGH
Ray Stevens CEO, Structure Therapeutics 2:53
Structure Therapeutics best-in-class obesity drug play
Structure Therapeutics is a well-capitalized obesity drug developer with $1.5B pro forma capital providing runway to the end of 2028, enough to complete its Phase 3 chronic weight management study for oral small molecule GLP-1 ELENI and advance its oral amylin small molecule HCG 2671 to Phase 2. Management believes its structure-based drug discovery platform can generate best-in-class oral obesity medicines with advantages in efficacy, safety, manufacturing, and combinability. Despite Novo and Lilly entering the oral obesity market first, the company cites the statin market where later entrants Lipitor and Crestor won the lion's share, and sees room for a best-in-class profile to capture significant share.
GPCR HIGH
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This CNBC video, published January 15, 2026, features Ray Stevens discussing OZEM, GPCR. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Ray Stevens  · Tickers: OZEM, GPCR