GH Research PLC (GHRS) to Raise $124 Million in IPO

GH Research PLC (GHRS) expects to raise $124 million in an initial public offering (IPO) on Friday, June 25th, IPO Scoop reports. The company will be issuing 8,300,000 shares at a price of $14.00-$16.00 per share.

GH Research PLC has a market cap of $732.8 million.

Cowen and Stifel acted as the underwriters for the IPO and Canaccord Genuity and JMP Securities were co-managers.

GH Research PLC provided the following description of their company for its IPO: “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.  “.

GH Research PLC was founded in 2018 and has 8 employees. The company is located at 28 Baggot Street Lower, Dublin 2, D02 NX43, Ireland and can be reached via phone at + 353 1 437 8443 or on the web at http://www.ghres.com.

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