BUZZ-GH Research drops on $150 mln equity raise for depression treatments

Reuters2025-02-05
BUZZ-GH Research drops on $150 mln equity raise for depression treatments

** Shares of GH Research GHRS.O down 3.2% premarket to $15.79 after securing equity raise

** Irish biotech firm late Tues sold 10 mln shares at $15 for $150 mln gross proceeds

** Offering price represents 8.1% discount to stock's last sale of $16.32. Stock fell 9.3% on Tues

** On Mon, GHRS shares surged 70% to close at $17.99, highest since Apr 2022, after co said its depression therapy, GH001, met main goals of mid-stage study

** Co intends to use net offering proceeds to invest in research, clinical/technical development of current and/or additional product candidates, according to the SEC filing

** It has 52 mln shares outstanding for nearly $850 mln market cap

** Cantor, Stifel and RBC are jt bookrunners for the offering

** Sentiment on GHRS unanimously bullish among 5 analysts covering the stock and their median PT is $37, according to LSEG data

** Stock ended 2024 at $7

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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