GH Research
GH Research is a clinical-stage biopharmaceutical company developing proprietary inhaled, intravenous, and intranasal mebufotenin (5-MeO-DMT) formulations for treatment-resistant depression, bipolar II disorder, and postpartum depression.
- Company typePublic
- Founded2018
- HeadquartersDublin, Ireland
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What GH Research does
GH Research PLC is a clinical-stage biopharmaceutical company headquartered in Dublin, Ireland, with operations in Ireland and clinical activity spanning the European Union, United Kingdom, and United States. Listed on NASDAQ under ticker GHRS since 2021, the company was founded in 2018 by Florian Schönharting and Magnus Halle, and currently operates with a headcount of 51-100 employees. The operating subsidiary, GH Research Ireland Limited, holds the development pipeline and intellectual property estate.
The company's core technology centers on a portfolio of proprietary mebufotenin (5-methoxy-N,N-dimethyltryptamine, 5-MeO-DMT) product candidates designed for ultra-rapid onset antidepressant activity. The platform comprises three delivery modalities: GH001 (proprietary pulmonary inhalation formulation, lead product), GH002 (intravenous formulation, Phase 1 completed in 64 healthy volunteers), and GH003 (intranasal formulation, early-stage). The lead mechanism — the Individualized Dosing Regimen (IDR) — allows single-day administration of up to three ascending doses (6 mg, 12 mg, 18 mg) by inhalation, achieving Day-8 remission rates of 53.9%-63.6% in Phase 2b treatment-resistant depression (TRD) and up to 85.7% in 6-month open-label follow-up, without the requirement for structured psychotherapy commonly associated with psychedelic protocols. Phase 2a studies in bipolar II disorder with depressive episode (n=6) and postpartum depression (n=10, 100% Day-8 remission) extend the platform's potential. The company is pursuing additional patents covering novel therapeutic uses, manufacturing methods, salt forms, aerosol compositions, and device-related aspects across multiple delivery routes.
GH Research is currently pre-revenue with no approved products and no commercial sales. Revenue generation is contingent on obtaining regulatory approval, with company-stated commercialization targeted around 2028 following a global Phase 3 pivotal program for GH001 in TRD that is planned to initiate in late 2026 (pending the FDA's January 2026 lifting of a clinical hold imposed in September 2023). Upon approval, distribution is anticipated through standard pharmaceutical supply chains to hospitals, specialty pharmacies, and psychiatric treatment centers. To date the company has financed operations through Series A and B rounds in 2020-2021, an upsized 2021 NASDAQ IPO, a $150 million underwritten offering in February 2025, a $117.5 million underwritten offering in April 2026, and a $200 million at-the-market facility with Stifel, Nicolaus & Company entered in May 2026, bringing pro forma liquidity to approximately $378.5 million and supporting operations through the planned Phase 3 readout window.
GH Research firmographics
Firmographics- Name
- GH Research
- Legal name
- GH Research Ireland Limited
- Website
- https://ghres.com
- Company type
- Public
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- GH Research is a clinical-stage biopharmaceutical company developing proprietary inhaled, intravenous, and intranasal mebufotenin (5-MeO-DMT) formulations for treatment-resistant depression, bipolar II disorder, and postpartum depression.
- Ownership category
- akta.pro rank
GH Research industry classification
Industry- Product category
- Clinical-Stage Neuropsychiatric Pharmaceuticals
- NAICS
- Research and Development in Biotechnology (except Nanobiotechnology) (541714)
- SIC
- Biological Products, (No Disgnostic Substances) (2836)
- akta.pro primary industry
- Neurology & CNS Specialty Pharmaceuticals (HLAIACAC)
- akta.pro secondary industry
- Lead Optimization & Preclinical Candidate Selection (HLAIALAB)
Keywords
Where GH Research is headquartered
LocationHeadquarters
- HQ city
- Dublin
- HQ country
- Ireland
- HQ region
- Europe
Offices1 record
Markets served
GH Research business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Operations
Revenue model
- No Commercial Revenue: GH Research is a clinical-stage biopharmaceutical company with no approved products or commercial revenue. The company is focused on developing its proprietary mebufotenin pipeline (GH001, GH002, GH003) through clinical trials, with the goal of obtaining regulatory approval for commercialization in treatment-resistant depression, bipolar II disorder, and postpartum depression. Potential future revenue would come from pharmaceutical product sales following regulatory approval.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
GH Research product offering
Product offeringCore offering
GH Research develops proprietary mebufotenin (5-MeO-DMT) product candidates for the treatment of psychiatric and neurological disorders. Its lead candidate GH001 is a pulmonary inhalation formulation of mebufotenin advancing toward a global Phase 3 pivotal program for treatment-resistant depression, with additional programs in bipolar II disorder and postpartum depression. The company also has GH002 (intravenous mebufotenin) and GH003 (intranasal mebufotenin) in earlier-stage development.
Product overview
GH Research is a clinical-stage pharmaceutical company developing a portfolio of novel mebufotenin (5-methoxy-N,N-dimethyltryptamine, 5-MeO-DMT) product candidates for psychiatric and neurological disorders. The product portfolio centers on three proprietary formulations: GH001 (inhaled mebufotenin, lead product for TRD, BDII, and PPD), GH002 (intravenous mebufotenin), and GH003 (additional intranasal/intravenous candidate). GH001 is the primary focus, having completed Phase 2b trials for treatment-resistant depression with Phase 3 initiation planned for 2026. The company is not yet commercial and has no marketed products.
Differentiator
Problem solved
Functional benefit
Products and services
- GH001 (Inhaled Mebufotenin)
Quantifiable outcome
- Phase 2b TRD: Placebo-adjusted MADRS reduction of -15.5 points at Day 8 (P<0.0001)
- +7 more outcomes
Companies that use GH Research
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles1 record
GH Research technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
GH Research partnerships and signals
Strategic signalScale indicators11 records
Recent moves7 records
Expansion highlights5 records
GH Research competitors and assessment
Company assessmentEmerging players
- Cybin: Clinical-stage psychedelic therapeutics company developing deuterated psilocybin and DMT-based programs for depression and anxiety disorders. Comparable as an emerging psychedelic player targeting overlapping psychiatric indications.
Direct peers
- Compass Pathways: Clinical-stage psychedelic mental health company developing COMP360 psilocybin therapy for treatment-resistant depression, with a Phase 3 program also in progress. Direct head-to-head competitor to GH001 in the same TRD patient population using a different psychedelic mechanism.
- MindMed: Public clinical-stage company developing psychedelic-inspired therapies (LSD, MDMA programs) for anxiety, depression, and other CNS indications. Direct peer competing for the same psychedelic-psychiatry opportunity with overlapping target indications.
- ATAI Life Sciences: Public clinical-stage platform holding multiple psychedelic mental health programs, including novel 5-MeO-DMT approaches in depression. Closely comparable as a psychedelic-focused holding company investing across multiple CNS assets.
Broad incumbents
- Lundbeck: Global CNS specialty pharma with established depression franchises including vortioxetine (Trintellix). Comparable as a large CNS incumbent with sales infrastructure and lifecycle management expertise relevant to a TRD launch.
- AbbVie: Large pharma with Vraylar (cariprazine) approved for depressive episodes associated with bipolar I and bipolar II disorder. Direct overlap with GH Research's BDII program as an established CNS incumbent in the same indication.
- Acadia Pharmaceuticals: Specialty CNS pharma with commercial franchises in neurology and psychiatry. Highly comparable as a specialty CNS company; notably, GH Research's co-founder Florian Schönharting co-founded Acadia, indicating deep category expertise.
- Axsome Therapeutics: Commercial-stage CNS specialty pharma with Auvelity (dextromethorphan/bupropion) approved for major depressive disorder and other CNS launches. Comparable as a specialty CNS company targeting the same depression prescribing audience with a more conventional oral therapy.
- Sage Therapeutics: CNS specialty pharma with Zurzuvae approved for postpartum depression (same indication as GH001 PPD program) and prior depression programs. Most direct comparability to GH Research's PPD opportunity with an approved CNS asset.
- Johnson & Johnson: Large pharma with Spravato (esketamine) — the only FDA-approved therapy specifically indicated for treatment-resistant depression. Sets the established standard of care that GH001 would compete against at launch.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks7 records
Key highlights7 records
Customer concentration
GH Research social profiles
Digital presenceGH Research financial estimates
Financial estimateRevenue estimate
Valuation estimate
GH Research leadership team
Management profileNumber of profiles
Profiles8 records
GH Research funding detail
Funding detailFunding overview
Funding rounds3 records
Investors14 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
GH Research M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about GH Research
What does GH Research do?
GH Research develops proprietary mebufotenin (5-MeO-DMT) product candidates for the treatment of psychiatric and neurological disorders. Its lead candidate GH001 is a pulmonary inhalation formulation of mebufotenin advancing toward a global Phase 3 pivotal program for treatment-resistant depression, with additional programs in bipolar II disorder and postpartum depression. The company also has GH002 (intravenous mebufotenin) and GH003 (intranasal mebufotenin) in earlier-stage development.
Is GH Research a public or private company?
GH Research is a public company. It is classified as public and is currently operating.
When was GH Research founded?
GH Research was founded in 2018. It employs 11 to 50 people.
Where is GH Research based?
GH Research is headquartered in Dublin, Ireland, in the Europe region.
How does GH Research make money?
One revenue line is on record: no Commercial Revenue.
Who are GH Research's main competitors?
Cybin is listed as an emerging player. Direct peers are Compass Pathways, MindMed and ATAI Life Sciences. Broad incumbents are Lundbeck, AbbVie, Acadia Pharmaceuticals, Axsome Therapeutics, Sage Therapeutics and Johnson & Johnson.
Does GH Research have an API?
No public API is recorded for GH Research.
What industry is GH Research in?
GH Research's product category is Clinical-Stage Neuropsychiatric Pharmaceuticals. Its primary akta.pro industry code is HLAIACAC, Neurology & CNS Specialty Pharmaceuticals, with a secondary code of HLAIALAB, Lead Optimization & Preclinical Candidate Selection. Its NAICS code is 541714 and its SIC code is 2836.