Irish Biotech Firm GH Research Sees Cash Decline in Q2, Advances Psychedelic Drug Trials
Portfolio Pulse from Jelena Martinovic
GH Research PLC (NASDAQ:GHRS), an Irish biotech firm, reported a decline in cash reserves in Q2 2024 while advancing its psychedelic drug trials. The company is conducting trials for its DMT-related drugs, GH001 and GH002, targeting treatment-resistant depression and other psychiatric disorders.
September 05, 2024 | 1:22 pm
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GH Research reported a decrease in cash reserves from $222.7M to $204.5M in Q2 2024, with increased R&D and administrative expenses. Despite the financial loss, the company is progressing with its psychedelic drug trials, GH001 and GH002, which show potential in treating depression.
The financial results show a decline in cash reserves and increased expenses, which could be a concern for investors. However, the advancement in drug trials, particularly the promising results of GH002, may offset the negative financial news, leading to a neutral short-term impact.
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