GH Research Psychedelics Firm Q2 2023 Reports $238M Cash To Accelerate 5-MeO-DMT Programs Into 2026
Portfolio Pulse from Lara Goldstein
GH Research PLC (NASDAQ:GHRS) reported its Q2 2023 financial results, revealing a cash and cash equivalents of $96.9 million, down from $166 million in Dec 2022. However, the company's total liquidity, including other financial assets and marketable securities, stands at $238.1 million, which it believes will cover operating expenses and capital expenditure requirements until 2026. The company reported a quarterly net loss of $7.7 million, compared to a net profit of $334,000 in the same quarter in 2022. GH Research is developing novel 5-MeO-DMT therapies for Treatment-Resistant Depression (TRD) and is currently conducting several clinical trials.
August 24, 2023 | 7:03 pm
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NEUTRAL IMPACT
GH Research reported a decrease in cash and cash equivalents but maintains a healthy total liquidity. The company reported a net loss for the quarter, compared to a net profit in the same period last year. However, the company's ongoing clinical trials for novel therapies could potentially drive future growth.
The decrease in cash and cash equivalents and the reported net loss could negatively impact the company's stock price in the short term. However, the company's healthy total liquidity and ongoing clinical trials for novel therapies could potentially drive future growth, offsetting any short-term negative impact.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100