Company: GHRS
Filing Date: 2025-02-05
Form Type: 424B5
Source: 0001140361-25-003183
Chunk: 8

Company: GH Research PLC
Filing Date: 2025-02-05
Form: 424B5
Chunk 8
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, the clinical hold on our IND for GH001, or other adverse developments related to regulatory approvals of our product candidates; |

| • | delays in entering into strategic relationships with respect to development or commercialization of our GH001 and GH002 product candidates or any future product candidates; |

| • | entry into strategic relationships on terms that are not deemed to be favorable to us; |

| • | technological innovations or commercial therapeutic introductions by competitors; |

| • | changes in government regulations and healthcare payment systems; |

| • | developments concerning proprietary rights, including patent and litigation matters; |

| • | public concern relating to the commercial value or safety of any of our GH001 and GH002 product candidates or any future product candidates; |

| • | negative publicity or public perception of the use of mebufotenin as a medical treatment; |

| • | financing or other corporate transactions, or the failure to obtain financing or enter into other corporate transactions; |

| • | publication of research reports or comments by securities or industry analysts; |

| • | the trading volume of our ordinary shares on Nasdaq; |

| • | sales of our ordinary shares by us, members of our senior management and directors or our shareholders or the anticipation that such sales may occur in the future; |

| • | general market conditions in the pharmaceutical industry or in the economy as a whole; |

| • | general economic, political, and market conditions and overall market volatility in the United States, the UK or the EU as a result of pandemics or similar events; and |

| • | other events and factors, many of which are beyond our control. |

These and other market and industry factors may cause the market price and demand for our ordinary shares to fluctuate substantially, regardless of our actual operating performance, which may limit or prevent investors from readily selling their ordinary shares and may otherwise negatively affect the liquidity of our ordinary shares. In addition, pharmaceutical companies have experienced extreme price and volume fluctuations that have often been unrelated or disproportionate to the operating performance of these companies, including as a result of the COVID-19 pandemic.

S-8

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**If you invest in our ordinary shares in the offering, you will experience substantial and immediate dilution.**

**If you invest in our ordinary shares in this offering, you will experience substantial and immediate dilution of $9.69 per ordinary share in the net tangible book value after giving effect to the offering at the public offering price of $15.00 per ordinary share, because the