NASDAQ$GHRS
GH Research PLC · Q4 2025 earnings
Q4 2025 earnings · · Investor relations
Briefing
GH Research reported its full year 2025 financial results and provided a business update on its clinical-stage depression treatments.
GH Research, a clinical-stage biopharmaceutical company, reported a net loss of $48.3 million for the full year 2025. The company successfully completed its Phase 2b trial for GH001 in treatment-resistant depression, meeting its primary endpoint with significant MADRS reduction. The company maintains a strong cash position of $280.7 million to fund its upcoming Phase 3 pivotal program.
- Phase 2b trial of GH001 met primary endpoint with a placebo-adjusted MADRS reduction of -15.5 points at Day 8 (p<0.0001).
- GH001 achieved a 57.5% remission rate at Day 8 in the double-blind portion and 73% at six months in open-label extension.
- FDA cleared GH001 for U.S. clinical investigation, enabling U.S. subject enrollment for the upcoming Phase 3 program.
- Cash and marketable securities increased to $280.7 million following a successful capital raise during the year.
Headline financials
Revenue & EPS history
GH Research · Revenue · Quarterly
$0
Forward guidance
GH Research is focused on transitioning to a global Phase 3 pivotal program for GH001 and advancing its proprietary aerosol delivery device.
Tailwinds
- Targeting initiation of global Phase 3 program in 2026.
- Actively seeking FDA alignment on Phase 3 pivotal program design.
- Proprietary aerosol delivery device Phase 1 trial ongoing to support bridging to pivotal trials.
- Strong cash runway with $280.7 million in liquid assets.
- GH001 cleared by FDA for U.S. clinical investigation.
Headwinds
- Risk of delays in obtaining FDA alignment on pivotal program design.
- Potential for future clinical holds by the FDA on GH001 or GH002.
- Increasing R&D and G&A expenses as programs advance.
- Uncertainty regarding the timeline for submitting an IND for GH002.
- Dependence on successful replication of Phase 2b results in Phase 3 trials.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 10 quarterly earnings reports · overlaid with Q4 2025
+0.7%
Avg return
Earnings day
+1.4%
Avg return
5 days after
+0.7%
Avg return
30 days after
55%
6 / 11 earnings
Positive
+24.4%
Q3 2021
Best reaction
-19.3%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.3% | +0.2% | — | |
| Q3 2025 | -1.2% | +4.6% | +9.6% | |
| Q4 2025 | -4.8% | -10.2% | -21.6% | |
| Q2 2025 | +2.2% | +10.2% | +19.3% | |
| Q4 2024 | -2.9% | -14.4% | +0.8% | |
| Q2 2024 | -19.3% | -21.6% | -37.8% | |
| Q1 2024 | +4.5% | +7.1% | +25.9% | |
| Q2 2023 | -5.8% | +1.2% | -5.0% | |
| Q1 2023 | +8.2% | +6.9% | +24.6% | |
| Q4 2021 | +1.1% | +7.5% | -15.6% | |
| Q3 2021 | +24.4% | +24.4% | +7.1% | |
| Q1 2021 | — | — | — | |
| Q4 2020 | — | — | — | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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