GH Research PLC

GHRS

We are a clinical-stage biopharmaceutical company dedicated to transforming the treatment of psychiatric and neurological disorders. Our initial focus is on developing our novel and proprietary 5-Methoxy-N,N-Dimethyltryptamine, or 5-MeO-DMT, therapies for the treatment of patients with Treatment-Resistant Depression, or TRD. Our portfolio currently includes GH001, our proprietary inhalable 5-MeO-DMT product candidate which is delivered via a vaporization device produced by a third party, and GH002, our proprietary injectable 5-MeO-DMT product candidate.

We have completed a Phase 1 healthy volunteer clinical trial, in which administration of GH001 via inhalation was observed to be well tolerated at the investigated single dose levels and in an individualized dosing regimen with intra-subject dose escalation within a single day. GH001 is currently being investigated in the Phase 2 part of an ongoing Phase 1/2 clinical trial in patients with TRD. Based on observed clinical activity, we believe that administration of a single dose of GH001 has the potential to induce ultra-rapid remissions as measured by the Montgomery–Åsberg Depression Rating Scale, or MADRS, in certain patients. The goal of the ongoing Phase 2 part of the trial is to assess whether an individualized dosing regimen with intra-subject dose escalation within a single day can further increase the MADRS remission rate as compared to a single GH001 dose.

Patients with MDD who have not adequately responded to therapy clearly have harder-to-treat depression, generally referred to as TRD. There is no consensus definition for TRD, but in the context of clinical trials, failure of at least one pharmacotherapy, one pharmacotherapy and one psychotherapy, or two pharmacotherapies has been used, the latter group having been referred to by regulatory authorities as patients with TRD. The Sequenced Treatment Alternatives to Relieve Depression, or STAR*D study, a collaborative study funded by the U.S.

National Institute of Mental Health, demonstrated that approximately 37% of patients with MDD did not achieve a response despite two treatment steps. Based on this result we estimate that there are approximately nine million TRD patients in the United States and Europe who would be candidates for treatment. TRD has a greater economic and societal cost than non-TRD MDD. For instance, direct medical costs are approximately two- to threefold higher for TRD patients compared to non-TRD MDD patients. 

Offer Price Offer Size 3-Year Outlook Volatility 1st Day Turnover
$16.00 10,000,000 Positive High 16.5%

Offering Team

Deal Managers

  • Cowen and Company
  • Stifel

Lawyers

  • David Lubin & Associates, PLLC

Auditors

  • PricewaterhouseCoopers S.A

Pre-IPO Investors

Investors

  • Google Ventures
  • Intel Ventures
  • Patricoff Ventures
  • Kleiner Perkins

Pre-IPO Holdings(%)

  • 30
  • 20
  • 05
  • 18

Deal Highlights

Deal Tracker

Investors

Filing

24 Jun, 2021

Offer

25 Jun, 2021

Look Ahead

Lock Up Expiry

25 Dec, 2021

Earning

Nov 1, 2018

IPO Terms

Offer Price $16.00
Offer Size 10M

Market Sentiments

Stock Price