GHRS - GH Research: This European Biotech Company Reports Full Year 2023 Financial Results And Business Updates | Benzinga
Nasdaq-listed, GH Research (NASDAQ:GHRS) is a clinical-stage biopharma business developing novel 5-MeO-DMT therapies as transformative treatment of psychiatric and neurological disorders.
Its reported yearly financial results show:
- Cash position of $ 222.7 million by December 31, 2023, an 11.5% decrease as compared to that held by December 31, 2022.
- Yearly R&D expenses totaled $29.8 million, a 45% increase as compared to the $20.5 million spent in 2022.
- Yearly G&A expenses totaled $11.4 million, a 12.8% increase as compared to the $10.1 million spent in 2022.
- Yearly net loss of $35.6 million (or $0.68 loss per share), a 58% rise from the 2022 net loss ($22.5 million, or $0.43 loss per share.)
Additional financial assets held during the fiscal year 2023 include money market funds and marketable securities (held both in 2022 and 2023) involving investment-grade bonds.
The GH Research team stated its existing cash, cash equivalents, additional financial assets and marketable securities "will be sufficient for us to fund our operating expenses and capital expenditure requirements into 2026."
Clinical Pipeline & IP Portfolio In Development
GH Research portfolio focuses on three mebufotenin (or 5-MeO-DMT) assets: lead product candidate GH001, a proprietary inhalation formulation in Phase 2 clinical trials; GH002, a proprietary intravenous formulation in Phase 1 clinical-stage; and GH003, a proprietary intranasal formulation undergoing preclinical development.
GH001 has passed two ...