DUBLIN, Ireland, Dec. 06, 2021 (GLOBE NEWSWIRE) -- GH Research PLC (Nasdaq: GHRS), a clinical-stage biopharmaceutical company dedicated to transforming the treatment of psychiatric and neurological disorders, today reported financial results for the third quarter ended September 30, 2021 and gave updates on its business.
Third Quarter 2021 Financial Results
Cash position
Cash was $280.7 million as of September 30, 2021, compared to $5.9 million as of December 31, 2020.
Research and development expenses
R&D expenses were $2.6 million for the quarter ended September 30, 2021, compared to $55 thousand for the same quarter in 2020. The increase was primarily due to increased activities relating to our technical developments and clinical trials and increases in employee expenses to support these activities.
General and administrative expenses
G&A expenses were $2.1 million for the quarter ended September 30, 2021, compared to $5 thousand for the same quarter in 2020. The increase was primarily due to higher professional and compliance fees associated with being a public company, as well as increased employee expenses.
Net loss
Net loss was $1.8 million, or $0.035 loss per share, for the quarter ended September 30, 2021, compared to $60 thousand, or $0.002 loss per share, for the same quarter in 2020.
Business Updates
We announced today, in a separate press release, the successful outcome of the Phase 2 part of our Phase 1/2 clinical trial of GH001 in treatment-resistant depression (TRD), where the primary endpoint was met with 7 of 8 patients (87.5%) in remission (Montgomery–Åsberg Depression Rating Scale (MADRS) ≤10) at day 7 after dosing (p