As of the date of this Current Report, Structure Therapeutics Inc. (the "Company") updates and supplements the risk factors disclosed in its Annual Report on Form 10-K for the fiscal year ended

of the date of this Current Report, Structure Therapeutics Inc. (the "Company") updates and supplements the risk factors disclosed

in its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 filed with the SEC on March 8, 2024 ("Annual

Report"), as supplemented and updated by the risk factors disclosed in the Company's Quarterly Report on Form 10-Q for

the quarterly period ended March 31, 2024 filed with the SEC on May 9, 2024 ("Quarterly Report"), with the following

risk factors. If any of the risk factors disclosed in the Company's Annual Report or Quarterly Report actually occurs, its business,

prospects, operating results and financial condition could suffer materially, the trading price of its American Depositary Shares could

decline, and you could lose all or part of your investment. The risks and uncertainties described

in the Company's Annual Report and Quarterly Report are not the only ones we face. Additional risks and uncertainties not presently

known to us or that we currently believe to be immaterial also may materially and adversely affect our business, prospects, operating

results and financial condition. Capitalized terms used below which are not defined have the definitions as provided in the Annual Report

and Quarterly Report.

Risks Related to the Discovery, Development

and Regulatory Approval of Product Candidates

Clinical and preclinical drug development

involves a lengthy and expensive process with uncertain timelines and outcomes. The results of prior clinical trials and preclinical studies

are not necessarily predictive of future results, and may not be favorable, or receive regulatory approval on a timely basis, if at all.

Clinical drug development

is expensive and can take many years to complete, and its outcome is inherently uncertain. Our clinical trials may not be conducted as

planned or completed on schedule, if at all, and failure can occur at any time during the preclinical study or clinical trial process.

For example, we depend on the availability of non-human primates ("NHP") to conduct certain preclinical studies that we are

required to complete prior to submitting an investigational new drug application ("IND") and initiating clinical development.

There is currently a global shortage of NHPs available for drug development. This has caused the cost of obtaining NHPs for our preclinical

studies to increase dramatically and, if the shortage continues, could also result in delays to our development timelines. Despite promising

preclinical or clinical results, any product candidate can unexpectedly fail at any stage of preclinical or clinical development. The

historical failure rate for product candidates in our industry is high. Furthermore, the results from clinical trials or preclinical studies

of a product candidate may not predict the results of later clinical trials of the product candidate, and interim results of a clinical

trial are not necessarily indicative of final results. For example, in December 2023, we reported topline and interim data from our

12-week Phase 2a clinical trial, which focused on safety and tolerability of GSBR-1290 in a total of 94 participants, including 60 participants

randomized to GSBR-1290. The results showed GSBR-1290 was generally well-tolerated with no treatment-related SAEs, no adverse event-related

discontinuation in obesity and only one adverse event-related discontinuation in T2DM. Furthermore, GSBR-1290 demonstrated significant

reductions in hemoglobin A1c and weight at 12 weeks in T2DM. We further reported positive topline data from our Phase 2a obesity cohort

in June 2024, in which GSBR-1290 achieved a clinically meaningful and statistically significant placebo-adjusted mean decrease in

weight of 6.2% at 12 weeks and demonstrated generally favorable safety and tolerability results following repeated, daily dosing up to

120mg. Due to the preliminary, topline nature of these results and the length of the study and sample size, these results are not necessarily

indicative of the results for our future clinical trials for GSBR-1290 and may not be comparable to other weight loss products or product

candidates, including other oral selective GLP-1RAs. In addition, given the size of the Phase 2a obesity cohort, the primary efficacy

endpoint of weight loss was calculated using LSM and analyzed based on the primary efficacy estimand using a mixed model for repeated

measures. This means that we drew on all available data, including data from patients that did not follow-up at 12 weeks. The model estimates

how patients with missing data would have responded based on patients who continued the study and had similar baseline characteristics

(implicit imputation). Product candidates in later stages of clinical trials may fail to show the desired safety and efficacy characteristics

despite having progressed through preclinical studies and initial clinical trials. In particular, while we have conducted, or are conducting

certain preclinical studies of our product candidates, the predictive value of these studies with respect to future testing in humans

is limited, particularly in indications where animal models are less developed.

Even if our clinical trials

are completed, the results may not be sufficient to obtain marketing approval for our product candidates. In clinical trials that are

based on preclinical studies and early clinical trials, it is not uncommon to observe unexpected results, and many product candidates

fail in clinical development despite very promising early results. Moreover, preclinical and clinical data may be susceptible to varying

interpretations and analyses. A number of companies in the biopharmaceutical industry have suffered significant setbacks in clinical development

even after achieving promising results in earlier studies. In addition, in some cases, external experts or regulatory authorities disagreed

with such companies' views and interpretations of the data and results from earlier preclinical studies or clinical trials. As we

investigate GSBR-1290 for T2DM and obesity and ANPA-0073 for IPF, we may encounter new and unforeseen difficulties. Similarly any future

product candidates we may develop may not be able to progress from preclinical to Phase 1 clinical development. For the foregoing reasons,

we cannot be certain that our ongoing and planned clinical trials and preclinical studies will be successful. Any of the foregoing occurrences

may harm our business, financial condition and prospects significantly.

Any difficulties or delays in the commencement

or completion, or termination or suspension, of our planned clinical trials could result in increased costs to us, delay or limit our

ability to generate revenue and adversely affect our commercial prospects.

In order to obtain FDA approval

to market our product candidates, we must demonstrate the safety and efficacy of our product candidates in humans to the satisfaction

of the FDA. To meet these requirements, we will have to conduct adequate and well-controlled clinical trials. In addition, before we can

initiate clinical trials for any product candidate, we must submit the results of preclinical studies to the FDA or comparable foreign

regulatory authorities along with other information, including information about product candidate chemistry, manufacturing and controls

and our proposed clinical trial protocol, as part of an IND or similar regulatory submission, and we are also required to submit comparable

applications to foreign regulatory authorities for clinical trials outside of the United States. We plan to submit an IND to the FDA for

our planned Phase 2b study of GSBR-1290 for chronic weight management in the third quarter of 2024 and will need to receive allowance

from the FDA to proceed before initiating this planned study.

Clinical testing is expensive,

time-consuming and subject to uncertainty. Conducting preclinical studies and clinical trials represents a lengthy, time-consuming and

expensive process. The length of time may vary substantially according to the type, complexity and novelty of the program, and often can

be several years or more per program. Delays associated with programs for which we are directly conducting preclinical studies may cause

us to incur additional operating expenses.

Clinical trials may not be

conducted as planned or completed on schedule, if at all. For example, in September 2023 we reported that a data collection omission

had occurred at a clinical site that impacted the obesity cohort (120 mg dose level) of the Phase 2a study for GSBR-1290, where weight

was not collected at the final (week 12) visit for 24 of the 40 enrolled participants. Other safety and laboratory assessments were measured

at all visits, including the week 12 visit as per protocol. We have completed the enrollment of additional participants in the Phase 2a

obesity cohort to replace those for whom 12-week weight data was not collected. The replacement participants will follow the same study

protocol, without changes in the titration schema or target dose (120 mg at once-daily dosing). However, as a result of this data collection

omission, we reported interim Phase 2a obesity cohort data in December 2023, and the full 12-week obesity data in June 2024.

Events that may prevent successful

or timely completion of clinical development include:

We could also encounter delays

if a clinical trial is suspended or terminated by us, by the IRBs of the institutions in which such trials are being conducted, by a Data

Safety Monitoring Board for such trial or by the FDA or applicable foreign authorities. Such authorities may impose such a suspension

or termination due to a number of factors, including failure to conduct the clinical trial in accordance with regulatory requirements

or our clinical protocols, inspection of the clinical trial operations or trial site by the FDA or applicable foreign authorities resulting

in the imposition of a clinical hold, unforeseen safety issues or adverse side effects, failure to demonstrate a benefit from using a

drug, changes in governmental regulations or administrative actions or lack of adequate funding to continue the clinical trial. In addition,

changes in regulatory requirements and policies may occur, and we may need to amend clinical trial protocols to comply with these changes.

Amendments may require us to resubmit our clinical trial protocols to IRBs for reexamination and approval, which may impact the costs,

timing or successful completion of a clinical trial.

Further, conducting clinical

trials in foreign countries, as we may do for our product candidates, presents additional risks that may delay completion of our clinical

trials. These risks include the failure of enrolled patients in foreign countries to adhere to clinical protocols as a result of differences

in healthcare services or cultural customs, managing additional administrative burdens associated with foreign regulatory requirements,

as well as political, currency exchange and other economic risks relevant to such foreign countries. Investigators and patients may not

be able to comply with clinical trial protocols if quarantines impede patient movement or interrupt healthcare services. Similarly, our

ability to recruit and retain patients and principal investigators and site staff which in turn could adversely impact our clinical trial

operations. Additionally, we may experience interruption of key clinical trial activities, such as clinical trial site monitoring, due

to limitations on travel, quarantines or social distancing protocols imposed or recommended by federal or state governments, employers