What Does GH Research PLC (GHRS)’s Clinical Progress Updates Say?

GH Research PLC (NASDAQ:GHRS) is among the best psychedelic stocks to buy in 2026.

The company is advancing efforts to develop psychedelic medicines targeting conditions like depression, bipolar II disorder, and other psychiatric and neurological disorders. Its flagship drug candidate GH001 is aimed at patients with treatment-resistant depression as well as those with bipolar II disorder and postpartum depression.

What Does GH Research PLC (GHRS)’s Clinical Progress Updates Say?

On March 10, Guggenheim boosted its price target on GH Research PLC (NASDAQ:GHRS) to $34 from $29 while reiterating a Buy rating on the stock. The equity research firm pointed to GH Research’s 2025 financial results and clinical progress updates for its renewed bullish view on this psychedelic stock.

GH Research PLC (NASDAQ:GHRS) reported its 2025 financial results and provided business updates on March 5. Regarding financials, the company said it spent $38.8 million on R&D and $22.0 million on general and administrative expenses in 2025. It finished the year with $280.7 million in cash, cash equivalents, and marketable securities.

Concerning business updates, GH Research PLC said it completed Phase 2b trial of GH001 in patients with treatment-resistant depression (TRD), saying that the trial met its primary endpoint. With that done, the company said it was moving to a global Phase 3 study of GH001, and that it was seeking FDA alignment on the design of that study.

Regarding its other drug candidate, GH002, the company said it had completed a Phase 1 study in healthy volunteers.

Based in Dublin, Ireland, GH Research PLC (NASDAQ:GHRS) is a clinical-stage biopharmaceutical company. The company has focused on developing treatments for psychiatric and neurological conditions. Its lead drug candidate is GH001, an inhalable medicine currently in clinical trials for the treatment of severe depression and bipolar II disorder.

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