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DUBLIN - GH Research PLC (NASDAQ:GHRS), a biopharmaceutical company specializing in the development of treatments for psychiatric and neurological disorders, announced the appointment of Dr. Velichka Villy Valcheva as its new Chief Executive Officer. Dr. Valcheva, who has over two decades of experience in the pharmaceutical sector, steps into the role following the departure of co-founder PD Dr. med. Theis Terwey.
Valcheva, who joined GH Research in August 2023 and served as Chief Medical Officer since February 2024, has been instrumental in advancing the company's clinical development programs. Her prior role at Albireo as VP and Head of Medical Affairs International saw her significantly contribute to the regulatory approvals and market access of Bylvay, a medication for a rare disease.
Florian Schönharting, Chairman of the Board of Directors at GH Research, expressed confidence in Dr. Valcheva's ability to steer the company through its next development phase, emphasizing her operational skills and experience. The company aims to provide effective therapies for patients with depression.
Dr. Valcheva acknowledged the strong foundation laid by Dr. Terwey and expressed enthusiasm for leading GH Research's upcoming initiatives. The company is currently wrapping up patient screening for its phase 2b trial in treatment-resistant depression, with completion of enrolment expected in September. Additionally, a phase 1 study involving a proprietary device is actively enrolling healthy volunteers in the UK.
Dr. Terwey, the departing CEO, reflected on his tenure with GH Research with pride and anticipation for the company's future progress.
GH Research focuses on developing its novel mebufotenin (5-MeO-DMT) therapies for treatment-resistant depression (TRD). The information regarding these developments is based on a press release statement from GH Research PLC.
InvestingPro Insights
As GH Research PLC (NASDAQ:GHRS) welcomes Dr. Velichka Villy Valcheva as its new CEO, the financial landscape of the company provides a mixed picture for investors. According to real-time data from InvestingPro, GH Research has a market capitalization of $546.3 million, with a Price to Earnings (P/E) ratio standing at -16.75, indicating that the company is not currently profitable.
InvestingPro Tips highlight that GHRS holds more cash than debt on its balance sheet, which is a positive sign for financial stability and operational flexibility. Additionally, two analysts have revised their earnings upwards for the upcoming period, suggesting a potential improvement in the company's financial performance.
However, it's important to note that GH Research has been grappling with weak gross profit margins and analysts do not anticipate the company will be profitable this year. This is underscored by the company's Return on Assets, which was reported at -13.84% for the last twelve months as of Q1 2024, reflecting challenges in generating income from its assets.
For investors seeking a deeper dive into GH Research's financial health and future prospects, there are additional InvestingPro Tips available at https://www.investing.com/pro/GHRS. These tips provide insights that could help in making informed investment decisions regarding the company's stock.
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