Company: GHRS
Filing Date: 2025-07-29
Form Type: 20-F/A
Source: 0001140361-25-027850
Chunk: 223

Company: GH Research PLC
Filing Date: 2025-07-29
Form: 20-F/A
Chunk 223
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 million for the year ended December 31, 2024, from $8.3 million for the year ended December 31, 2023. The increase is primarily due to an increase in finance income of $0.7 million relating to cash, cash equivalents and other financial assets, as well as a fair value gain of $0.6 million relating to our cash equivalents and other financial assets. These increases have been partly offset by a decrease in interest income of $0.5 million relating to marketable securities. Foreign Exchange Gain/(Loss) Foreign exchange gain is $2.1 million for the year ended December 31, 2024, an increase of $4.7 million 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. 134 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