Psychedelic drug firm GH Research eases after $117.5 mln equity raise

Bgc

29/04/2026 15:02

** Irish biopharma GH Research GHRS.O shares down 2.4% to $19.38 on thin volume early Weds after $117.5 mln equity financing

** Co early Weds announces pricing offering of ~6.5 mln shares at $18, which is 9.3% discount to stock's last sale on Tues

** Stifel, Cantor and RBC joint bookrunners

** GHRS developing psychedelic drug, mebufotenin, for treatment of patients with treatment-resistant depression (TRD)

** It plans to use net offering proceeds to invest in research, clinical and technical development of current and/or additional product candidates globally, among other purposes, per the prospectus

** Earlier this month, U.S. President Donald Trump signed an executive order to hasten access to medical research and treatment based on psychedelic drugs

** Through Tues, GHRS shares surged 41% this month putting them up 56% YTD

** Prior to offering, co had 62 mln shares outstanding with its top four investors holding two-thirds: board chairman Florian Schönharting ~14.8 mln shares, Lynx1 Capital Advisors ~10.4 mln, BVF Partners ~8.8 mln, RA Capital ~7.7 mln - LSEG data

** Of 9 analysts, 2 rate the stock "strong buy", 7 recommend "buy"; median PT $36.50

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))