CNBC January 21, 2026
Annika Kim Constantino

After the launch of the first-ever GLP-1 pill for weight loss from Novo Nordisk this month, obesity was top of mind at the annual JPMorgan Healthcare Conference, which drew thousands of pharma and biotech companies, investors, advisors and analysts.

I sat down with Ray Stevens, the CEO of obesity market hopeful Structure Therapeutics, about the biotech’s path forward and his expectations for the future of the booming GLP-1 space.

It’s a big year for Structure, as the company’s daily oral GLP-1 is slated to enter Phase 3 trials. Shares of Structure soared more than 100% on Dec. 9 after it released mid-stage data showing that its pill, aleniglipron, helped patients with obesity lose more than 11% of their...

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