Company: GHRS
Filing Date: 2025-07-29
Form Type: 20-F/A
Source: 0001140361-25-027850
Chunk: 128

Company: GH Research PLC
Filing Date: 2025-07-29
Form: 20-F/A
Chunk 128
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-how or intellectual property of the collaborator relating to our 
 products, product candidates or research programs;                                                                                                                                                                                  |

| • | key personnel at our collaborators may leave, which could negatively impact our ability to productively work with our collaborators; |

| • | collaborations may require us to incur short and long-term expenditures, issue securities that dilute our shareholders or disrupt our management and business; |

| • | if our collaborators do not satisfy their obligations under our agreements with them, or if they terminate our collaborations with them, we may not be able to develop or commercialize product candidates as planned; |

| • | collaborations may require us to share in development and commercialization costs pursuant to budgets that we do not fully control and our failure to share in such costs could have a detrimental impact on the collaboration or our 
 ability to share in revenue generated under the collaboration;                                                                                                                                                                        |

| • | collaborations may be terminated in their entirety or with respect to certain product candidates or technologies and, if so terminated, may result in a need for additional capital to pursue further development or 
 commercialization of the applicable product candidates or technologies; and                                                                                                                                          |

| • | collaboration agreements may not lead to development or commercialization of product candidates in the most efficient manner or at all. If a present or future collaborator of ours were to be involved in a business combination, 
 the continued pursuit and emphasis on our development or commercialization program under such collaboration could be delayed, diminished or terminated.                                                                            |

We may face significant competition in seeking appropriate collaborations. Recent business combinations among biotechnology and pharmaceutical companies have resulted in a reduced number of potential collaborators. In addition, the negotiation process is time-consuming and complex, and we may not be able to negotiate collaborations on a timely basis, on acceptable terms, or at all. If we are unable to do so, we may have to curtail the development of the product candidate for which we are seeking to collaborate, reduce or delay its development program or one or more of our other development programs, delay its potential commercialization or reduce the scope of any sales or marketing activities, or increase our expenditures and undertake development or commercialization activities at our own expense. If we elect to increase our expenditures to fund development or commercialization activities on our own, we may need to obtain additional capital, which may not be available to us on acceptable terms or at all. If we do not have sufficient funds, we may not be able to further develop product candidates or bring them to market and generate product revenue. 68 Table of Contents If