Company: GHRS
Filing Date: 2025-07-29
Form Type: 20-F/A
Source: 0001140361-25-027850
Chunk: 222

Company: GH Research PLC
Filing Date: 2025-07-29
Form: 20-F/A
Chunk 222
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 to multiple product candidates decreased by $1.0 million in the year ended December 31, 2024, due to the recognition of a research and development tax credit and a decrease in technical development expenses. These decreases have been partly offset by an increase in our clinical development activities and increased employee expenses. General and Administrative Expenses The following table summarizes our general and administrative expenses for the years ended December 31, 2024 and 2023:

|                            |     | Year Ended December 31, 
 2024                    |         |   |     | 2023 |         |   |     | Change |        |   |
|:---------------------------|:----|:------------------------|:--------|:--|:----|:-----|:--------|:--|:----|:-------|:-------|:--|
|                            |     | -in USD thousands       |         |   |     |      |         |   |     |        |        |   |
| External costs             |     |                         | (10,182 | ) |     |      | (7,692  | ) |     |        | (2,490 | ) |
| Employee expenses(1)       |     |                         | (4,820  | ) |     |      | (3,429  | ) |     |        | (1,391 | ) |
| Depreciation               |     |                         | (294    | ) |     |      | (280    | ) |     |        | (14    | ) |
| General and administrative |     |                         | (15,296 | ) |     |      | (11,401 | ) |     |        | (3,895 | ) |

(1)Includes share-based compensation expense of $0.7 million for the year ended December 31, 2024 and $0.9 million for the year ended December 31, 2023. General and administrative expenses increased by $3.9 million to $15.3 million for the year ended December 31, 2024, from $11.4 million for the year ended December 31, 2023. External costs increased primarily due to an increase in professional fees which has been partly offset by a decrease in insurance costs. Employee expenses increased due to an increase in headcount in our general and administrative functions to support our growth initiatives. Net Finance Income Our net finance income increased by $1.0 million to $9.2