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GH Research Reports First Quarter 2024 Financial Results and Provides Business Updates
Newsfilter· 2024-05-03 11:00
Phase 2b clinical trial of GH001 in patients with treatment-resistant depression on track for expected completion of double-blind phase in Q3 2024 and of 6-month open-label extension phase in Q1 2025Phase 2a clinical trial of GH001 in postpartum depression on track for expected completion in Q3 2024Cash, cash equivalents, other financial assets and marketable securities of $214.0 million expected to provide cash runway into 2026 DUBLIN, Ireland, May 03, 2024 (GLOBE NEWSWIRE) -- GH Research PLC (NASDAQ:GHRS) ...
GH Research PLC(GHRS) - 2023 Q4 - Annual Report
2024-03-06 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-40530 GH Research PLC (Address of principal executive offices) Theis Terwey, PD Dr. med. Chief Executive Officer Joshua Dawson House Dawson Street Dublin 2 D02 RY95 Ireland +353 1 437 8334 (Name, Tele ...
How Much Upside is Left in GH Research PLC (GHRS)? Wall Street Analysts Think 321.28%
Zacks Investment Research· 2024-03-05 15:55
Shares of GH Research PLC (GHRS) have gained 7.3% over the past four weeks to close the last trading session at $8.13, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $34.25 indicates a potential upside of 321.3%.The average comprises four short-term price targets ranging from a low of $18 to a high of $49, with a standard deviation of $13.33. While the lowest estimate indicates ...
GH Research Reports Full Year 2023 Financial Results and Provides Business Updates
Newsfilter· 2024-02-29 12:00
Phase 2b clinical trial of GH001 in patients with treatment-resistant depression on track for expected completion of double-blind phase in Q3 2024Phase 2a clinical trial of GH001 in postpartum depression on track for expected completion in Q3 2024Successfully completed Phase 1, dose-ranging clinical pharmacology trial of intravenous GH002 in healthy volunteersAdditional patents granted in EuropeCash, cash equivalents, other financial assets and marketable securities of $222.7 million expected to provide cas ...
GH Research (GHRS) Investor Presentation - Slideshow
2023-03-16 18:08
March 2023 This presentation has been prepared by GH Research PLC ("GH Research") for informational purposes only and not for any other purpose. Nothing contained in this presentation is, or should be construed as, a recommendation, promise or representation by the presenter or GH Research or any director, employee, agent, or adviser of GH Research. This presentation does not purport to be all-inclusive or to contain all of the information you may desire. Except as otherwise noted, these forward-looking sta ...
GH Research PLC(GHRS) - 2022 Q4 - Annual Report
2023-03-08 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 19 ...
GH Research PLC(GHRS) - 2022 Q3 - Quarterly Report
2022-11-09 16:00
Exhibit 99.1 Unaudited condensed consolidated interim statement of comprehensive income | | | Three months ended | | Nine months ended | | | --- | --- | --- | --- | --- | --- | | | | September 30, | | September 30, | | | | | 2022 | 2021 | 2022 | 2021 | | | Note | $'000 | $'000 | $'000 | $'000 | | Operating expenses | | | | | | | Research and development | | (4,620) | (2,556) | (13,574) | (5,202) | | General and administration | | (2,006) | (2,110) | (7,808) | (3,277) | | Loss from operations | | (6,626) | ( ...
GH Research PLC(GHRS) - 2022 Q2 - Quarterly Report
2022-08-22 16:00
[Unaudited Condensed Consolidated Interim Financial Statements](index=1&type=section&id=Unaudited%20Condensed%20Consolidated%20Interim%20Financial%20Statements) GH Research PLC reported a net loss of $5.4 million for H1 2022, an increase from $3.3 million, driven by higher R&D and G&A expenses, with total assets decreasing [Statement of Comprehensive Income](index=1&type=section&id=Unaudited%20condensed%20consolidated%20interim%20statement%20of%20comprehensive%20income) For H1 2022, loss from operations widened to $14.8 million due to increased R&D and G&A, partially offset by a $9.3 million FX gain, resulting in a $5.4 million net loss Consolidated Statement of Comprehensive Income (Six Months Ended June 30, in thousands of USD) | Metric | 2022 (USD '000) | 2021 (USD '000) | Change | | :--- | :--- | :--- | :--- | | Research and development | (8,954) | (2,646) | Increased | | General and administration | (5,802) | (1,167) | Increased | | **Loss from operations** | **(14,756)** | **(3,813)** | **Widened** | | Foreign exchange gain | 9,327 | 544 | Increased | | **Profit/(loss) for the period** | **(5,429)** | **(3,275)** | **Widened** | | **Total comprehensive loss** | **(14,744)** | **(3,963)** | **Widened** | | **Basic and diluted EPS (USD)** | **(0.104)** | **(0.093)** | **Decreased** | - The increase in operating expenses was primarily due to higher external costs for technical development and clinical trials, as well as increased employee expenses from hiring personnel to support expanded clinical activities and growth initiatives[36](index=36&type=chunk)[37](index=37&type=chunk) [Statement of Financial Position](index=2&type=section&id=Unaudited%20condensed%20consolidated%20interim%20statement%20of%20financial%20position) Total assets decreased to $266.3 million as of June 30, 2022, from $279.9 million at year-end 2021, primarily due to reduced cash, with total equity also declining Financial Position Highlights (in thousands of USD) | Metric | June 30, 2022 (USD '000) | Dec 31, 2021 (USD '000) | | :--- | :--- | :--- | | Cash and cash equivalents | 265,377 | 276,776 | | **Total assets** | **266,319** | **279,924** | | Total liabilities | 3,095 | 2,749 | | **Total equity** | **263,224** | **277,175** | [Statement of Changes in Equity](index=3&type=section&id=Unaudited%20condensed%20consolidated%20interim%20statement%20of%20changes%20in%20equity) Total equity decreased by $13.9 million to $263.2 million in H1 2022, primarily due to a $5.4 million net loss and a $9.3 million negative FX translation adjustment Changes in Equity (Six Months Ended June 30, 2022, in thousands of USD) | Item | Amount (USD '000) | | :--- | :--- | | Equity at Jan 1, 2022 | 277,175 | | Loss for the period | (5,429) | | Translation adjustment | (9,315) | | Share-based compensation | 793 | | **Equity at June 30, 2022** | **263,224** | [Statement of Cash Flows](index=4&type=section&id=Unaudited%20condensed%20consolidated%20interim%20statement%20of%20cash%20flows) Net cash used in operating activities increased to $11.3 million for H1 2022, with no financing activities, leading to a $11.4 million decrease in cash balance to $265.4 million Cash Flow Summary (Six Months Ended June 30, in thousands of USD) | Metric | 2022 (USD '000) | 2021 (USD '000) | | :--- | :--- | :--- | | Net cash used in operating activities | (11,287) | (2,312) | | Net cash used in investing activities | (34) | (35) | | Net cash flows from financing activities | - | 289,220 | | **Net (decrease)/increase in cash** | **(11,321)** | **286,873** | | **Cash at the end of the period** | **265,377** | **292,625** | [Notes to the Financial Statements](index=5&type=section&id=Notes%20to%20the%20Unaudited%20Condensed%20Consolidated%20Interim%20Financial%20Statements) These notes detail the company's biopharmaceutical focus, IFRS (IAS 34) basis, significant R&D and G&A expense increases, foreign exchange gains, and share-based compensation [Note 1: Corporate Information](index=5&type=section&id=1.%20Corporate%20information) GH Research PLC is a clinical-stage biopharmaceutical company developing 5-MeO-DMT therapies for psychiatric and neurological disorders, initially focusing on TRD with three product candidates - The company is dedicated to transforming the treatment of psychiatric and neurological disorders, with an initial focus on Treatment Resistant Depression (TRD)[7](index=7&type=chunk) - The current product portfolio includes GH001 (inhalable 5-MeO-DMT), GH002 (injectable 5-MeO-DMT), and GH003 (intranasal 5-MeO-DMT)[7](index=7&type=chunk) [Note 2: Basis of Preparation and Accounting Policies](index=5&type=section&id=2.%20Basis%20of%20preparation%2C%20significant%20judgments%2C%20and%20accounting%20policies) Interim financial statements are prepared under IAS 34 in U.S. dollars, adopting a going concern basis with **$265.4 million** cash, and noting foreign currency translation effects due to differing functional currencies - The financial statements have been prepared in accordance with IAS 34 "Interim Financial Reporting"[9](index=9&type=chunk) - The board believes the Group has sufficient financial resources, with cash of **$265.4 million** as of June 30, 2022, to continue as a going concern for at least the next twelve months[15](index=15&type=chunk)[16](index=16&type=chunk) - The functional currency of the parent company is the U.S. dollar, while its subsidiary (GH Research Ireland Limited) uses the euro, resulting in foreign exchange gains/losses upon consolidation, primarily from translating the subsidiary's U.S. dollar cash balance into euro[21](index=21&type=chunk)[23](index=23&type=chunk) [Note 3: Expenses by Nature](index=8&type=section&id=3.%20Expenses%20by%20nature) Total operating expenses for H1 2022 were **$14.8 million**, up from **$3.8 million**, with R&D increasing to **$9.0 million** due to clinical trial costs and G&A rising to **$5.8 million** from increased fees and employee costs Operating Expenses by Nature (Six Months Ended June 30, in thousands of USD) | Expense Category | 2022 (USD '000) | 2021 (USD '000) | | :--- | :--- | :--- | | Research and development | 8,954 | 2,646 | | General and administrative | 5,802 | 1,167 | | **Total operating expenses** | **14,756** | **3,813** | - The foreign exchange gain of **$9.3 million** for the six months ended June 30, 2022, primarily consists of gains from the translation of the U.S. dollar cash balance into euro in the accounts of the company's Irish subsidiary[38](index=38&type=chunk) [Note 4-7: Current Assets, Liabilities, and Contingencies](index=9&type=section&id=4-7.%20Current%20Assets%2C%20Liabilities%2C%20and%20Contingencies) Other current assets primarily include prepayments and VAT receivable, while current liabilities are mainly for manufacturing, research, consulting, and legal fees, with no material contingent liabilities - Other current assets primarily represent prepayments and VAT receivable[40](index=40&type=chunk) - Trade payables and other current liabilities are mainly for manufacturing, research, consulting, and legal/professional fees[41](index=41&type=chunk)[42](index=42&type=chunk) - The Group has no material contingencies at the balance sheet date[43](index=43&type=chunk) [Note 8: Share-Based Compensation](index=9&type=section&id=8.%20Share%20based%20compensation) The company granted **203,553** share options in H1 2022, bringing total outstanding options to **360,740**, with a recognized share-based compensation expense of **$0.8 million** for the period Share Option Activity (As of June 30, 2022) | Metric | Number of Awards | Weighted Avg. Exercise Price (USD) | | :--- | :--- | :--- | | Outstanding at Dec 31, 2021 | 157,187 | $15.80 | | Granted in H1 2022 | 203,553 | $14.65 | | **Outstanding at June 30, 2022** | **360,740** | **$15.97** | - The share-based compensation expense recognized was **$0.8 million** for the six months ended June 30, 2022, compared to only **$12 thousand** for the same period in 2021[53](index=53&type=chunk) [Note 9: Related Party Disclosures](index=10&type=section&id=9.%20Related%20party%20disclosures) No material related party transactions occurred during the first six months of 2022 that significantly affected the Group's financial position or performance - No material related party transactions occurred in the three and six months ended June 30, 2022[54](index=54&type=chunk) [Note 10: Earnings and Loss Per Share](index=11&type=section&id=10.%20Earnings%20and%20loss%20per%20share) Basic and diluted loss per share for H1 2022 was **($0.104)**, compared to **($0.093)** in H1 2021, with Q2 2022 showing a positive EPS of **$0.006**, and share options excluded from diluted EPS due to anti-dilutive effects Earnings/(Loss) Per Share (USD) | Period | 2022 (USD) | 2021 (USD) | | :--- | :--- | :--- | | **Three Months Ended June 30** | 0.006 | (0.053) | | **Six Months Ended June 30** | (0.104) | (0.093) | - For periods with a net loss, and for the profitable Q2 2022, shares issuable under the Share Option Plan were excluded from the diluted EPS calculation as their effect was anti-dilutive[57](index=57&type=chunk)[58](index=58&type=chunk) [Note 11: Events After the Reporting Date](index=11&type=section&id=11.%20Events%20after%20the%20reporting%20date) No significant events occurred after the June 30, 2022 reporting date requiring disclosure or adjustment in the interim financial statements - No events requiring disclosure occurred after the reporting date[59](index=59&type=chunk)
GH Research PLC(GHRS) - 2022 Q1 - Quarterly Report
2022-05-17 16:00
Exhibit 99.1 UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2022 GH RESEARCH PLC Condensed consolidated interim statement of comprehensive income | | | Three months ended | | | --- | --- | --- | --- | | | | March 31, | | | | | 2022 | 2021 | | | Note | $'000 | $'000 | | Operating expenses | | | | | Research and development | | (4,714) | (692) | | General and administration | | (3,292) | (448) | | Loss from operations | | (8,006) | (1,140) | | Foreign curren ...
GH Research PLC(GHRS) - 2021 Q4 - Annual Report
2022-03-27 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 19 ...