GH Research (GHRS) Research & Development (2020 - 2026)
GH Research (GHRS) posted quarterly Research & Development of -$66.1 million for Q4 2025, down 6.98% year-over-year from -$71.1 million in Q4 2024, and down 725.93% quarter-over-quarter from $10.6 million in Q3 2025.
GH Research (GHRS) Research & Development (2020 - 2026) Analysis & Trends
GH Research's Research & Development history runs 6 years deep, the most recent figure standing at -$66.1 million for Q4 2025.
- In Q4 2025, Research & Development fell 6.98% year-over-year to -$66.1 million; the TTM figure through Dec 2025 stood at -$38.8 million (down 10.71% YoY), while the FY2025 annual figure was -$38.8 million, down 10.71% from the prior year.
- Research & Development for Q4 2025 stood at -$66.1 million, down from $10.6 million in the prior quarter.
- The five-year high for Research & Development was $13.8 million in Q4 2021, with the low at -$66.1 million in Q4 2025.
- The 5-year median for Research & Development is $7.1 million (2023), against an average of -$1.2 million.
- Peak annual rise in Research & Development reached 3004.97% in 2021, while the deepest fall reached 4547.27% in 2021.
- GH Research's Research & Development stood at $13.8 million in 2021, then plunged by 49.76% to $6.9 million in 2022, then rose by 19.41% to $8.3 million in 2023, then plunged by 849.32% to -$61.8 million in 2024, then slipped by 6.98% to -$66.1 million in 2025.
- Business Quant data shows GHRS's Research & Development at -$66.1 million in Q4 2025, $10.6 million in Q3 2025, and $9.0 million in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 128.13 Bn | 120.28 Bn | 2.84 Bn | 993.80 Mn |
| 2 | Regeneron Pharmaceuticals | 112.33 Bn | 104.33 Bn | 3.93 Bn | 1.63 Bn |
| 3 | Argenx Se | 53.24 Bn | 48.05 Bn | 1.41 Bn | 1.37 Bn |
| 4 | Revolution Medicines | 43.64 Bn | 43.64 Bn | - | 394.92 Mn |
| 5 | BeOne Medicines | 39.27 Bn | 34.17 Bn | 1.53 Bn | 612.28 Mn |
| 6 | MindWalk Holdings | 35.32 Bn | 35.31 Bn | 1.82 Bn | 1,146.05 |
| 7 | Royalty Pharma | 33.72 Bn | 35.84 Bn | - | 97.90 Mn |
| 8 | Alnylam Pharmaceuticals | 30.58 Bn | 27.27 Bn | 992.69 Mn | 413.13 Mn |
| 9 | Insmed | 27.01 Bn | 25.85 Bn | 358.27 Mn | 210.03 Mn |
| 10 | GH Research | 2.02 Bn | 1.68 Bn | - | 12.40 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 12.40 Mn |
| Dec 31, 2025 | -66.14 Mn |
| Sep 30, 2025 | 10.57 Mn |
| Jun 30, 2025 | 8.96 Mn |
| Mar 31, 2025 | 7.85 Mn |
| Dec 31, 2024 | -61.83 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 | 13.76 Mn |
| Sep 30, 2021 | -2.56 Mn |
| Jun 30, 2021 | -1.95 Mn |