GH Research (GHRS) Research & Development (2020 - 2026)
GH Research (GHRS) recorded Research & Development of $12.4 million in Q2 2026, up 38.4% from $8.96 million a year earlier and up 0.2% from the prior quarter.
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Analysis
GH Research (GHRS) Research & Development (2020 - 2026) Analysis & Trends
On a TTM basis, GH Research's Research & Development came in at $46.73 million as of Jun 30, 2026, up 39.9% year-over-year; for FY2025, it was $38.77 million, up 10.7% from FY2024.
- Annual Research & Development has increased for four straight years, with a five-year compound annual growth rate of 158.2% (FY2020 to FY2025).
- Across earlier years, Research & Development came in at $35.02 million in FY2024 (+17.4%), $29.82 million in FY2023 (+45.6%), $20.48 million in FY2022 (+139.5%) and $8.55 million in FY2021.
- The Q2 2026 figure is the highest quarterly Research & Development in data going back to Q3 2020.
- On a year-over-year basis, Research & Development has increased for four consecutive quarters, with growth averaging 20.1% over the last eight quarters.
- Peak year-over-year performance for Research & Development in the last five years was growth of 581.2% in Q1 2022, against a decline of 9.3% in Q1 2025 at the low end.
- Per Business Quant, the preceding three quarters came in at $12.38 million (Q1 2026), $11.39 million (Q4 2025) and $10.57 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Eli Lilly | 1,264.65 Bn | 1,238.27 Bn | 20.46 Bn | 4.25 Bn |
| 2 | Johnson & Johnson | 677.74 Bn | 597.60 Bn | 17.30 Bn | 4.65 Bn |
| 3 | AbbVie | 517.10 Bn | 485.11 Bn | 13.12 Bn | 2.57 Bn |
| 4 | Merck | 362.23 Bn | 325.17 Bn | 13.19 Bn | 4.54 Bn |
| 5 | Novartis Ag | 315.90 Bn | 276.16 Bn | 11.24 Bn | 2.85 Bn |
| 6 | Astrazeneca | 289.40 Bn | 266.24 Bn | 12.86 Bn | 4.05 Bn |
| 7 | Amgen | 249.90 Bn | 201.56 Bn | 7.58 Bn | 2.11 Bn |
| 8 | Gilead Sciences | 209.15 Bn | 184.26 Bn | 6.73 Bn | 1.61 Bn |
| 9 | Pfizer | 165.88 Bn | 113.23 Bn | 12.56 Bn | 3.02 Bn |
| 10 | GH Research | 1.18 Bn | 99.82 Mn | - | 12.40 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 12.40 Mn |
| Mar 31, 2026 | 12.38 Mn |
| Dec 31, 2025 | 11.39 Mn |
| Sep 30, 2025 | 10.57 Mn |
| Jun 30, 2025 | 8.96 Mn |
| Mar 31, 2025 | 7.85 Mn |
| Dec 31, 2024 | 8.21 Mn |
| Sep 30, 2024 | 8.40 Mn |
| Jun 30, 2024 | 9.76 Mn |
| Mar 31, 2024 | 8.66 Mn |
| Dec 31, 2023 | 8.25 Mn |
| Sep 30, 2023 | 7.09 Mn |
| Jun 30, 2023 | 7.18 Mn |
| Mar 31, 2023 | 7.31 Mn |
| Dec 31, 2022 | 6.91 Mn |
| Sep 30, 2022 | 4.62 Mn |
| Jun 30, 2022 | 4.24 Mn |
| Mar 31, 2022 | 4.71 Mn |
| Dec 31, 2021 | 3.35 Mn |
| Sep 30, 2021 | 2.56 Mn |
API Access
GH Research Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=GHRS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "GHRS", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=GHRS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();