GH Research Posts 53.9%-63.6% Remission Rates, $267M Cash Position
GHRS•Phase 2b TRD trial results showed Day 8 remission rates of 53.9%–63.6% and informed dose selection for global Phase 3. GH Research held $267.3 million in cash and securities, raised an additional $111.2 million in April, and reported a Q1 net loss of $19 million on $12.4 million R&D spend.
1. Phase 2b TRD Trial Publication
Phase 2b GH001-TRD-201 results were published in JAMA Psychiatry, showing Day 8 MADRS remission rates of 53.9%–63.6% across subgroups with a -15.5 point reduction versus placebo (p<0.0001). A post-hoc analysis demonstrated efficacy independent of the number of prior antidepressant failures.
2. Phase 1 Enrollment and Dose Selection
Enrollment in the GH001-HV-106 trial of the proprietary aerosol delivery device in the UK and in the GH001-HV-109 IND-opening study in the US is complete, allowing selection of dosing regimens for the global Phase 3 pivotal program.
3. Pivotal Program Planning
GH Research is engaging with the FDA to align on a global Phase 3 program designed to replicate the Phase 2b protocol, with initiation targeted for late 2026.
4. Q1 Financial Summary
As of March 31, 2026, cash, cash equivalents and marketable securities totaled $267.3 million, with an additional $111.2 million raised in April. Q1 R&D expenses were $12.4 million, G&A expenses $6.4 million, and net loss was $19.0 million, or $0.31 per share.
