Nasdaq Gets New Psychedelic Stock GH Research

GH Research, a Dublin-based company studying the potential of 5-MeO-DMT for the treatment of psychiatric and neurological disorders, is now listing its stock on the Nasdaq under the symbol “GHRS” after opening for trading on Friday, July 2 at $22.

The company had an IPO of 10 million shares at an initial price of $16 per share for total proceeds of approximately $160 million.

The company said that its initial focus is on developing the novel and proprietary 5-Methoxy-N, N-Dimethyltryptamine, or 5-MeO-DMT, therapies for the treatment of patients with Treatment-Resistant Depression, or TRD. The portfolio currently includes GH001, our proprietary inhalable 5-MeO-DMT product candidate, and GH002, our proprietary injectable 5-MeO-DMT product candidate. It has completed a Phase 1 healthy volunteer clinical trial, in which administration of GH001 via inhalation was observed to be well tolerated at the investigated single dose levels and in an individualized dosing regimen with intra-subject dose escalation.

GH001 is currently being investigated in the Phase 2 part of an ongoing Phase 1/2 clinical trial in patients with TRD. Based on observed clinical activity, The company said it believes that administration of a single dose of GH001 has the potential to induce ultra-rapid remissions as measured by the Montgomery-Åsberg Depression Rating Scale, or MADRS, in certain patients. The goal of the ongoing Phase 2 part of the trial is to assess whether an individualized dosing regimen with intra-subject dose escalation within a single day can further increase the MADRS remission rate as compared to a single GH001 dose.

GH Research closed a series B financing round for $125 million in April, which allowed it to move to a Phase 1/2 clinical trial testing the product in patients with treatment-resistant depression. The financing was co-led by RA Capital and RTW Investments, LP, U.S.-based biopharmaceutical investment firms, alongside existing investor BVF Partners. Other new investors in the Series B round included Acuta Capital Partners, Boxer Capital, Cormorant Asset Management, Deerfield Management Company, Logos Capital, Surveyor Capital (a Citadel company), Venrock Healthcare Capital Partners, and Verition Fund Management.

 

Leave a Reply

Your email address will not be published. Required fields are marked *

Don't Miss This Week's Groundbreaking News

Join the thousands of subscribers who stay informed with GMR's exclusive news briefs delivered directly to your inbox every Friday afternoon.

We respect your privacy. See our privacy policy.


About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


READ MORE



Recent Tweets

@GreenMarketRpt – 3 hours

New Report from ⁦@headset_io⁩ Says Medical Cannabis Consumers Spend More. New story from ⁦@julsaitch⁩

@GreenMarketRpt – 3 hours

Yowza. Be careful when investing in crowdfunding deals. SEC files complaint against CEO and others for…

@GreenMarketRpt – 5 hours

GMR co-founders and celebrating 4 years of entrepreneurship. It’s been a wild and crazy…

Back to Top