The firm maintains a healthy capital structure with minimal debt, evidenced by a debt-to-equity ratio of 0.00 and a robust current ratio of 26.16 as of 2026Q1.
| Total Current Assets | 1.49B | 1.57B | 891.21M | 473.61M | 93.09M | 109.25M | 38.42M |
| Cash & Short-Term Investments | 1.46B | 1.45B | 883.52M | 467.32M | 90.84M | 107.31M | 37.45M |
| Cash Only | 316.17M | 799.62M | 169.51M | 129.79M | 26.09M | 105.31M | 16.35M |
| Short-Term Investments | 1.14B | 646.57M | 714.01M | 337.53M | 64.75M | 2M | 21.09M |
| Accounts Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - |
| Other Current Assets | 32.09M | 124.11M | 7.69M | 6.29M | 2.25M | 0 | 0 |
| Total Non-Current Assets | 17.53M | 13.62M | 12.12M | 8.41M | 4.76M | 1.91M | 285K |
| Property, Plant & Equipment | 11.97M | 12.9M | 7.01M | 8.36M | 1.29M | 1.79M | 277K |
| Fixed Asset Turnover | 0.00x | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 5.55M | 717K | 5.11M | 45K | 3.46M | 111K | 8K |
| Total Assets | 1.51B | 1.58B | 903.33M | 482.02M | 97.84M | 111.16M | 38.7M |
| Asset Turnover | 0.00x | - | - | - | - | - | - |
| Asset Growth % | 124.76% | 75.34% | 87.41% | 392.63% | -11.97% | 187.19% | - |
| Total Current Liabilities | 56.98M | 63.28M | 36.02M | 24.74M | 13.01M | 8.66M | 3.04M |
| Accounts Payable | 7.82M | 13.86M | 8.02M | 4.74M | 6.01M | 3.48M | 1.53M |
| Days Payables Outstanding | 3.63K | 1.3K | - | - | - | - | 27.82K |
| Short-Term Debt | 2.61M | 2.88M | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 46.55M | 46.54M | 7.29M | 4.33M | 3.54M | 1.94M | 819K |
| Current Ratio | 26.16x | 24.81x | 24.74x | 19.14x | 7.16x | 12.62x | 12.64x |
| Quick Ratio | 26.16x | 24.81x | 24.74x | 19.14x | 7.16x | 12.62x | 12.64x |
| Cash Conversion Cycle | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 4.05M | 4.26M | 2.47M | 4.31M | 199.97M | 167.23M | 58.13M |
| Long-Term Debt | 3.18M | 3.61M | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 5.01M | 0 | 2.16M | 4.01M | 0 | 272K | 133K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 863K | 647K | 302K | 298K | 199.97M | 166.96M | 58M |
| Total Liabilities | 61.03M | 67.54M | 38.49M | 29.05M | 212.99M | 175.89M | 61.17M |
| Total Debt | 5.79M | 6.49M | 3.86M | 5.45M | 260K | 621K | 280K |
| Net Debt | -310.38M | -793.14M | -165.65M | -124.34M | -25.83M | -104.68M | -16.07M |
| Debt / Equity | 0.00x | 0.00x | 0.00x | 0.01x | - | - | - |
| Debt / EBITDA | -0.03x | - | - | - | - | - | - |
| Net Debt / EBITDA | 1.49x | - | - | - | - | - | - |
| Interest Coverage | - | - | - | -7.67x | - | -308.58x | - |
| Total Equity | 1.45B | 1.52B | 864.84M | 452.97M | -115.14M | -64.73M | -22.47M |
| Equity Growth % | 120.51% | 75.34% | 90.93% | 493.4% | -77.86% | -188.11% | - |
| Book Value per Share | 19.98 | 25.62 | 16.43 | 12.33 | -3.15 | -1.77 | -0.61 |
| Total Shareholders' Equity | 1.45B | 1.52B | 864.84M | 452.97M | -115.14M | -64.73M | -22.47M |
| Common Stock | 21K | 21K | 17K | 14K | 1K | 1K | 1K |
| Retained Earnings | -546.27M | -470.3M | -329.1M | -206.57M | -116.95M | -64.74M | -22.95M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -2.19M | 1.05M | 914K | 521K | -110K | 0 | -1K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Clinical trial execution failure
As reported in financial statements, Structure Therapeutics has maintained a robust asset base of $1.5 billion in 2026Q1, though the trajectory of retained earnings, which reached -$546.3 million, underscores the persistent capital intensity required to advance its metabolic pipeline through increasingly expensive late-stage clinical development phases.
The company's balance sheet trajectory reflects a deliberate strategy of front-loading liquidity to support long-term R&D, effectively insulating the firm from immediate solvency concerns. However, the widening deficit in retained earnings suggests that the business model remains entirely dependent on external capital to sustain its current operational velocity.
Based on the company's reported figures, the cash position of $316.2 million in 2026Q1, while down from the $799.6 million peak in 2025Q4, provides a significant liquidity buffer that appears sufficient to fund ongoing clinical trials without immediate recourse to dilutive equity markets in the near term.
The current ratio of 26.16 indicates an exceptionally liquid position, which is typical for a well-capitalized, pre-revenue biotechnology firm. Investors should monitor the rate of cash depletion closely, as the transition to larger, more complex Phase 3 trials will likely accelerate the burn rate significantly.
According to recent SEC filings, the company's equity base of $1.4 billion is primarily a function of historical capital raises rather than retained earnings, highlighting that shareholder value is currently tied to the successful execution of the R&D pipeline rather than organic operational profitability or capital accumulation.
The absence of meaningful retained earnings is expected for a clinical-stage firm, yet it emphasizes that equity quality is highly sensitive to clinical trial outcomes. Any failure to meet primary endpoints could lead to a rapid reassessment of this equity value, given the lack of a commercial revenue floor.
As indicated by the provided financial data, the company's asset base is heavily concentrated in cash, with minimal investment in tangible PPE of only $12.0 million, which suggests that the firm's true value is entirely intangible and resides in intellectual property that remains unvalued on the balance sheet.
This asset-light structure is typical for discovery-focused biotechs, but it creates a binary risk profile where the balance sheet provides little protection if the core drug candidates fail to demonstrate clinical efficacy. The lack of significant tangible assets means that in a downside scenario, there is virtually no recovery value for shareholders.
Quick answers to the most common questions about buying GPCR stock.
As of 2025, Structure Therapeutics Inc. (GPCR) had total assets of $1.58B including $1.57B in current assets.
Structure Therapeutics Inc. (GPCR) carries total debt of $6.5M, offset by $1.45B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Structure Therapeutics Inc. (GPCR) has total shareholders' equity (book value) of $1.52B ($25.62 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Structure Therapeutics Inc. (GPCR) reported a current ratio of 24.81x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.