Company: GHRS
Filing Date: 2025-07-29
Form Type: 20-F/A
Source: 0001140361-25-027850
Chunk: 283

Company: GH Research PLC
Filing Date: 2025-07-29
Form: 20-F/A
Chunk 283
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 the exchange rates of euro and the U.S. dollar will expose the Group to currency gains or losses that will impact the reported amounts of assets, liabilities, income and expenses and the impact could be material. For the year ended December 31, 2024, the Group recognized a foreign exchange gain of $ 2.1million (2023:loss of $ 2.6million, 2022: gain of $ 7.2million). The foreign exchange gain primarily relates to the U.S. dollar cash and other financial assets holding of its subsidiary and the associated strengtheningof the U.S. dollar compared to euro during the year. Movement in foreign exchange rates could positively or negatively affect the Group and the effect could be material. These foreign exchange movements are largely offset by related movements within Other Comprehensive Income. The Group does not believe there is currently a need to enter into specific contracts to reduce the exposure to changes in foreign exchange rates, such as by entering into options or forward contracts. The Group may in the future consider using options or forward contracts to manage currency transaction exposures. All marketable securities are denominated in U.S. dollar and are not subject to foreign exchange risk as they are held in an entity whose functional currency is the U.S. dollar. Other financial assets are denominated in U.S. dollar but are held in an entity whose functional currency is not the U.S. dollar and as such are subject to foreign exchange risk. At December 31, 2024, if the U.S. dollar had weakened / strengthened by 10% against the euro with all other variables held constant, the loss before tax for the year would have been $ 2.3million higher / lower (2023: $ 6.4million higher / lower), mainly related to the translation of cash and other financial assets held in U.S. dollar in the Company’s subsidiary, GH Research Ireland Limited, whose functional currency is euro as explained in note 2, “Basis of preparation, significant judgments, and accounting policies”. This would be offset by an equivalent amount within Other Comprehensive Income . Credit risk The Group is exposed to credit risk on our cash, cash equivalents, other financial assets and marketable securities. The Group’s cash balance is maintained with well established, highly rated financial institutions. As of December 31, 2024, the cash balance is held at threebanks that have a minimum S&P’s credit rating of A-. At December 31, 2024, the amount reflected in the statement of financial