Company: GHRS
Filing Date: 2025-02-27
Form Type: 20-F
Source: 0001140361-25-006175
Chunk: 82

Company: GH Research PLC
Filing Date: 2025-02-27
Form: 20-F
Item: Item 5
Chunk 82
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 from a loss of $2.6 million for the year ended December 31, 2023. This movement is primarily as a result of the translation of the U.S. dollar cash and other financial assets balances in the accounts of our subsidiary into its functional currency, which is the euro. During the year ended December 31, 2024, the U.S. dollar strengthened compared to the euro which resulted in the foreign exchange gain.
  Table of Contents
Comparison of the Years Ended December 31, 2023 and 2022
 
For a discussion of our statements of operations for the years ended December 31, 2023 and 2022, see the section “Item 5. Operating and Financial Review and Prospects—A. Operating Results—Results of Operations—Comparison of the Years Ended December 31, 2023 and 2022” in our Annual Report on Form 20-F for the year ended December 31, 2023.
B.
Liquidity and Capital Resources
 
Sources of Liquidity
 
We have incurred operating losses since inception, and we have not generated any revenue from any product sales or any other sources. We have not yet commercialized any of our product candidates, which are in various phases of technical and clinical development, and we do not expect to generate revenue from sales of any products for several years, if at all. Until such time as we can generate significant revenue from product sales, if ever, we expect to finance our operations through the sale of equity, debt financings or other capital sources, including potential collaborations with other companies or other strategic transactions. We have funded our operations to date primarily through equity financings, including our initial public offering. As of December 31, 2024 we had cash, cash equivalents, other financial assets and marketable securities of $182.6 million, compared to cash, cash equivalents and marketable securities of $222.7 million as of December 31, 2023.
 
In 2025, we received net cash proceeds of $139.8 million from a public offering of ordinary shares.
 
We plan to continue to fund our operating and capital funding needs through sales of additional equity or other forms of financing. We may also consider pursuing strategic partnerships for clinical development and commercialization of our product candidates. The sale of additional equity would result in additional dilution to our shareholders.
 
For a discussion of our sources of liquidity for the year ended December 31, 2022, see the section “Item 5