GH Research initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald analyst Charles Duncan initiated coverage of GH Research (GHRS) with an Overweight rating and no price target GH Research is advancing GH001, inhaled 5-MeO-DMT, a potentially Phase 3-ready candidate with an ultra-rapid antidepressant effect and individualized dosing regimen to optimize long-term response and remission rates, the analyst tells investors in a research note. Cantor sees recent compelling Phase 2b data and subsequent capital raise as derisking the development path, and while the FDA clinical hold remains a near-term overhang, the firm believes the recent Phase 2b efficacy data and benign safety profile, as well as unmet need and increasing clarity from preclinical toxicology studies, may enable a capital-efficient path forward for a pivotal, U.S.-inclusive, Phase 3 program and eventual approval.