GH Research
Develops mebufotenin therapies and delivery systems for treatment-resistant depression.
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Profile
Develops GH001, an inhaled mebufotenin candidate for treatment-resistant depression, and GH002, an intravenous candidate. The clinical-stage company depends on development, approvals, delivery devices, and external manufacturing.
Develops mebufotenin-based candidates aimed at depression. GH001 uses a proprietary inhalation delivery system and completed a Phase 2b trial in treatment-resistant depression; the company has said it is seeking FDA alignment for a global Phase 3 program based on that design. GH002 is its intravenous candidate, and its Phase 1 healthy-volunteer trial is complete.
GH001 and GH002 form the current portfolio, alongside development of associated delivery devices and manufacturing capabilities. Operations include clinical development in expanded geographies. Progress depends on clinical development, regulatory approvals, medical devices required for delivery, and external manufacturing capabilities.
Company facts
Key statistics
Year to date +110% · Average volume (30d) 277.9K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 10, 2026 | New Street | Target | $65 | ||
| Aug 7, 2026 | Cantor Fitzgerald | Reiterate | Overweight | $35 | $40 |
| Aug 7, 2026 | Guggenheim | Reiterate | Buy | $34 | $40 |
| Aug 6, 2026 | Needham | Reiterate | Buy | $32 | $39 |
| Jul 27, 2026 | Wells Fargo | Initiate | Overweight | $44 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | −$0.29 | −$0.23 | +19.6% | — | — | — | +5.18% |
| May 14, 2026Q1 FY26 | −$0.27 | −$0.31 | −14.8% | — | — | — | −3.69% |
| Mar 5, 2026Q4 FY25 | −$0.29 | −$0.23 | +20.7% | — | — | — | +5.01% |
| Nov 6, 2025Q3 FY25 | −$0.23 | −$0.23 | 0.0% | — | — | — | +0.67% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | |
| Gross profit | $0 | $0 | −$89.0K | −$88.0K | −$91.0K | $0 | |
| Operating income | −$12.7M | −$14.7M | −$16.5M | −$16.7M | −$18.7M | −$19.5M | |
| Net income | −$10.8M | −$9.3M | −$14.0M | −$14.1M | −$19.0M | −$15.1M | |
| Diluted EPS | −$0.19 | −$0.15 | −$0.23 | −$0.23 | −$0.31 | −$0.23 | |
| Gross margin | — | — | — | — | — | — | |
| Operating margin | — | — | — | — | — | — |
Fiscal years (4-quarter sums)FY21 $0 · FY22 $0 · FY23 $0 · FY24 $0 · FY25 $0
Balance sheet, Jun 30, 2026Cash & short-term investments $362.7M · Total debt $360.0K · Total assets $372.3M · Shareholders' equity $359.5M
Dividends
No dividends on record.
Ownership
Shares outstanding 68.56M · Float 50.88M · 74.2% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Florian Schonharting · director | 14.82M | 21.62% | Form 4 | Apr 1, 2026 |
| Lynx1 Capital Management LP | 10.76M | 17.40% | 13G | May 18, 2026 |
| BVF Inc/IL | 8.65M | 12.62% | 13F | May 15, 2026 |
| Ra Capital Management, L.P. | 7.68M | 11.20% | 13F | May 15, 2026 |
| RTW Investments, LP | 5.93M | 8.66% | 13F | May 15, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- Atai Beckley
Direct 5-MeO-DMT nasal-spray program in TRD
- Compass Pathways (ADR)
Phase 3 psilocybin program for treatment-resistant depression
- Johnson & Johnson
Approved esketamine nasal spray for treatment-resistant depression
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| GH Research | $28.16 | +1.04% | $1.92B | — | — | — | — |
| Atai Beckley | $7.29 | 0.00% | $2.70B | — | — | 602.9 | +137.0% |
| Compass Pathways (ADR) | $13.79 | +0.56% | $1.85B | — | — | — | — |
| Johnson & Johnson | $268.40 | +0.13% | $645.95B | 31.1 | 22.4 | 6.6 | +6.6% |
| Median | 31.1 | 22.4 | 304.8 | +71.8% |