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GH Research PLC

GH Research PLC

NASDAQ•GHRS
CEO: Mr. Florian Schonharting M.Sc. (Econ)
Sector: Healthcare
Industry: Biotechnology
Listing Date: 2021-06-25
GH Research PLC, together with its subsidiary GH Research Ireland Limited, engages in developing various therapies to treat psychiatric and neurological disorders. It is involved in the development of 5-Methoxy-N,N-Dimethyltryptamine (5-MeO-DMT) therapies for the treatment of patients with treatment-resistant depression (TRD). The company's lead program is GH001, an inhalable mebufotenin product candidate, currently under Phase 2b clinical trial for the treatment of patients with TRD, as well as Phase 2a clinical trials for the treatment of Bipolar II disorder and postpartum depression. It is also involved in the development of GH002, an intravenous mebufotenin product candidate for IV administration, currently under Phase 1 clinical trials for the treatment of psychiatric or neurological disorder; and GH003, an intranasal mebufotenin product candidate for nasal administration, which is currently in preclinical development with a focus on psychiatric and neurological disorders. The company was founded in 2018 and is based in Dublin, Ireland.
Contact Information
Joshua Dawson House, Dawson Street, Dublin, D02 RY95, Ireland
353-1-437-8334
www.ghres.com
Market Cap
$868.40M
P/E (TTM)
-21.2
45.9
Dividend Yield
--
52W High
$20.50
52W Low
$6.72
52W Range
53%
2.2
F-Score
Modified Piotroski Analysis
Based on 6-year fundamentals
Weak • 2.2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2019-2024

Financial Dashboard

Q3 2025 Data

Revenue

$0.00+0.00%
4-Quarter Trend

EPS

-$0.23+0.00%
4-Quarter Trend

FCF

-$14.48M+17.64%
4-Quarter Trend

2024 FY Earnings Highlights

Key Highlights

GH001 TRD Trial Success Primary endpoint met in TRD Phase 2b trial; GH001 achieved -15.2 point MADRS reduction versus placebo on Day 8.
Research Spending Rises Research and development expenses increased $5.2 M to $35.0 M in 2024, driven by advancing clinical trial activities.
Cash Reserves Remain Strong Cash and equivalents totaled $100.8 M as of December 31, 2024, supporting operations for at least the next 12 months.
GH002 Phase 1 Complete Completed Phase 1 pharmacology trial for intravenous candidate GH002 in healthy volunteers; top-line results available.

Risk Factors

Expect Continued Operating Losses Incurred net loss of $39.0 M in 2024; expects significant operating losses to continue for the foreseeable future.
FDA Hold Response Pending FDA clinical hold on GH001 IND requires toxicology studies; planned response submission scheduled for mid-2025.
Need Substantial Additional Funding Requires substantial additional funding to pursue growth strategy; failure to raise capital delays development programs or commercialization.
Mebufotenin Scheduling Risk Mebufotenin is Schedule I in US; rescheduling required for marketing, dependent on FDA approval and DEA action.

Outlook

Resolve GH001 FDA Hold Preparing complete response to FDA clinical hold regarding GH001 device bridging data; planned submission mid-2025.
Complete GH001 Extension Phase Open-label extension phase for TRD trial on track for last patient visit completion in first quarter of 2025.
Advance GH002 Program Anticipate developing intravenous candidate GH002 further following completion of Phase 1 pharmacology trial results.
Establish Commercial Capabilities Plans to establish sales, marketing, distribution, and commercial infrastructure to support potential future product approvals.

Peer Comparison

Revenue (TTM)

Akebia Therapeutics, Inc.AKBA
$225.07M
+32.5%
Valneva SEVALN
$213.49M
+30.2%
Geron CorporationGERN
$183.40M
+522.1%

Gross Margin (Latest Quarter)

Akebia Therapeutics, Inc.AKBA
84.0%
+21.9 pp
Geron CorporationGERN
53.2%
-46.6 pp
Valneva SEVALN
50.1%
+11.8 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
PVLA$990.95M-24.8-73.1%0.0%
KURA$975.03M-4.5-65.4%2.2%
RZLT$915.22M-13.2-62.8%0.9%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
N/M
Revenue Volatile
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
0%
Cash Flow Needs Attention

Research & Insights

Reports
All Years

  • Form 20-F/A - FY 2024

    Period End: Dec 31, 2024|Filed: Jul 29, 2025|
    Revenue: $0.00+0.0%
    |
    EPS: $-0.75-10.3%
    N/A

  • Form 20-F - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 27, 2025|Refer to amended data

  • Form 20-F - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 7, 2024|
    Revenue: $0.00+0.0%
    |
    EPS: $-0.68-385.7%
    N/A

  • Form 20-F/A - FY 2022

    Period End: Dec 31, 2022|Filed: Jun 2, 2023|
    Revenue: $0.00+0.0%
    |
    EPS: $-0.14+22.2%
    N/A

  • Form 20-F - FY 2022

    Period End: Dec 31, 2022|Filed: Mar 9, 2023|Refer to amended data

  • Form 20-F - FY 2021

    Period End: Dec 31, 2021|Filed: Mar 28, 2022|
    Revenue: $0.00+0.0%
    |
    EPS: $-0.18-1124.5%
    N/A