Ireland's GH Research Q2 net loss widens on higher R&D costs - GHRS News | RalliesIreland's GH Research Q2 net loss widens on higher R&D costs
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GHRS• Analyst view and valuation
- The current average analyst rating on the shares is buy, with 11 strong buy or buy ratings, no hold ratings and no sell or strong sell ratings.
- The average consensus recommendation for the biotechnology and medical research peer group is buy.
- Wall Street's median 12-month price target for GH Research PLC is $37.00, about 27% above its August 5 closing price of $29.13.
Pipeline and regulatory updates
- GH Research said it received FDA alignment on CMC and device plans for its Phase 3 pivotal program.
- The company targets initiation of a global Phase 3 pivotal program for GH001 in 2026.
- GH Research expects further strengthening of its US and EU mebufotenin patent estate.
Cash position rises after offering
- The company's cash and marketable securities rose to $362.7 million, aided by a $117.5 million offering.
Quarterly loss widens on higher research and administrative costs
- Ireland biopharmaceutical firm's Q2 net loss widened year over year, with higher research and development and general and administrative expenses.
- Q2 loss per share was $0.23.
- Higher R&D expenses were mainly due to increased clinical development and employee costs.
- Higher G&A expenses were mainly due to increased professional fees.
