Company research
Aardvark Therapeutics, Inc.
CIK 1774857Updated Nov 11, 2026
SecurityAARD · NASDAQ · equity
AARD price & chart
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NASDAQ:AARD on TradingView ↗About the company
Aardvark is a clinical-stage biopharmaceutical company developing novel, small-molecule therapeutics designed to suppress hunger for the treatment of Prader-Willi Syndrome and metabolic diseases. Hunger, which is the discomfort from not having eaten recently, is a distinct neural signaling pathway separate from appetite, the reward-seeking desire for food. Our programs explore therapeutic applications in hunger-associated indications and potential complementary uses with anti-appetite therapies. For more information, visit www.aardvarktherapeutics.com.
In the news
AARD DEADLINE ALERT: ROSEN, TRUSTED INVESTOR COUNSEL, Encourages Aardvark Therapeutics, Inc. Investors to Secure Counsel Before Important October 13 Deadline in Securities Class Action – AARD ↗
Pomerantz Law Firm Announces the Filing of a Class Action Against Aardvark Therapeutics, Inc. and Certain Officers and Directors - AARD ↗
AARD Investors Have Opportunity to Lead Aardvark Therapeutics, Inc. Securities Fraud Lawsuit ↗
Recent filings
Other Events
Items 8.01, 9.01
Other Events
Items 8.01, 9.01
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · Other Events
Items 5.02, 8.01, 9.01
4 filing
4 filing
Show 5 more recent filings
Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q2 2024 | Q1 2026 | Q1 2025 | Q1 2024 | FY 2025 | FY 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||||
| AssetsUSD | 133,229,000Source | — | 81,460,000Source | 147,475,000Source | — | 98,590,000Source | 157,025,000Source | — | 117,181,000Source | 77,507,000Source |
| Current assets: | ||||||||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 39,285,000Source | — | 73,849,000Source | 25,998,000Source | — | 62,436,000Source | 26,504,000Source | — | 47,051,000Source | 61,641,000Source |
| Assets, CurrentUSD | 129,207,000Source | — | 80,661,000Source | 144,768,000Source | — | 93,580,000Source | 154,554,000Source | — | 111,886,000Source | 74,137,000Source |
| Prepaid Expense and Other Assets, CurrentUSD | 2,857,000Source | — | 6,791,000Source | 2,948,000Source | — | 2,380,000Source | 3,294,000Source | — | 1,859,000Source | 474,000Source |
| Operating Lease, Right-of-Use AssetUSD | 439,000Source | — | 626,000Source | 522,000Source | — | 269,000Source | 628,000Source | — | 355,000Source | 735,000Source |
| Other Assets, NoncurrentUSD | 3,583,000Source | — | 173,000Source | 2,185,000Source | — | 4,741,000Source | 1,843,000Source | — | 4,940,000Source | 2,635,000Source |
| LIABILITIES AND EQUITY | ||||||||||
| LiabilitiesUSD | 10,852,000Source | — | 6,663,000Source | 10,550,000Source | — | 11,604,000Source | 6,336,000Source | — | 10,548,000Source | 5,394,000Source |
| Stockholders’ equity: | ||||||||||
| Preferred Stock, Value, IssuedUSD | 0Source | — | 0Source | 0Source | — | 0Source | 0Source | — | 0Source | 0Source |
| Common Stock, Value, IssuedUSD | 0Source | — | 0Source | 0Source | — | 0Source | 0Source | — | 0Source | 0Source |
| Retained Earnings (Accumulated Deficit)USD | -98,320,000Source | — | -151,893,000Source | -82,004,000Source | — | -137,506,000Source | -67,637,000Source | — | -115,918,000Source | -58,327,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | 82,000Source | — | 0Source | -3,000Source | — | 14,000Source | 44,000Source | — | 81,000Source | 0Source |
| Stockholders' Equity Attributable to ParentUSD | 122,377,000Source | -46,174,000Source | 74,797,000Source | 136,925,000Source | -42,306,000Source | 86,986,000Source | 150,689,000Source | -36,911,000Source | 106,633,000Source | -54,643,000Source |
| Additional Paid in Capital, Common StockUSD | 220,615,000Source | — | 226,690,000Source | 218,932,000Source | — | 224,478,000Source | 218,282,000Source | — | 222,470,000Source | 3,684,000Source |
| Liabilities and EquityUSD | 133,229,000Source | — | 81,460,000Source | 147,475,000Source | — | 98,590,000Source | 157,025,000Source | — | 117,181,000Source | 77,507,000Source |
| Current liabilities: | ||||||||||
| Liabilities, CurrentUSD | 10,736,000Source | — | 6,387,000Source | 10,310,000Source | — | 11,604,000Source | 5,976,000Source | — | 10,548,000Source | 4,927,000Source |
| Operating Lease, Liability, CurrentUSD | 429,000Source | — | 401,000Source | 417,000Source | — | 336,000Source | 390,000Source | — | 441,000Source | 338,000Source |
| Accounts Payable, CurrentUSD | 4,444,000Source | — | 2,086,000Source | 5,056,000Source | — | 4,493,000Source | 2,556,000Source | — | 2,072,000Source | 2,298,000Source |
| Operating Lease, Liability, NoncurrentUSD | 116,000Source | — | 276,000Source | 228,000Source | — | — | 336,000Source | — | 0Source | 441,000Source |
| Other Liabilities, NoncurrentUSD | 0Source | — | — | 12,000Source | — | — | 24,000Source | — | 0Source | 26,000Source |
| Additional Financial Items | ||||||||||
| Accrued Liabilities, CurrentUSD | 5,863,000Source | — | 3,900,000Source | 4,837,000Source | — | 6,775,000Source | 3,030,000Source | — | 8,035,000Source | 2,291,000Source |
| Cash, Cash Equivalents, and Short-term InvestmentsUSD | 126,400,000Source | — | 73,900,000Source | 141,800,000Source | — | 91,200,000Source | 151,300,000Source | — | 110,000,000Source | — |
| Short-term InvestmentsUSD | 87,065,000Source | — | 21,000Source | 115,822,000Source | — | 28,764,000Source | 124,756,000Source | — | 62,976,000Source | 12,022,000Source |
cash flow · annual statements
| Line item | Q4 2025 | Q4 2024 | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q1 2026 | Q1 2025 | FY 2025 | FY 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
| Depreciation, Depletion and AmortizationUSD | — | — | — | — | — | — | 11,000Source | 5,000Source | 36,000Source | 16,000Source |
| Share-based Payment Arrangement, Noncash ExpenseUSD | — | — | — | — | — | — | 2,004,000Source | 233,000Source | 3,948,000Source | 439,000Source |
| Changes in operating assets and liabilities: | ||||||||||
| Increase (Decrease) in Accounts PayableUSD | — | — | — | — | — | — | 2,421,000Source | 648,000Source | 239,000Source | 798,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | — | — | — | — | — | — | -18,869,000Source | -11,388,000Source | -54,172,000Source | -18,087,000Source |
| Cash flows from investing activities: | ||||||||||
| Net Cash Provided by (Used in) Investing ActivitiesUSD | — | — | — | — | — | — | 34,250,000Source | -112,624,000Source | -49,667,000Source | -11,998,000Source |
| Payments to Acquire Property, Plant, and EquipmentUSD | — | — | — | — | — | — | — | 0Source | 95,000Source | 109,000Source |
| Cash flows from financing activities: | ||||||||||
| Net Cash Provided by (Used in) Financing ActivitiesUSD | — | — | — | — | — | — | 4,000Source | 88,875,000Source | 89,249,000Source | 81,991,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | — | — | 39,285,000Source | 82,277,000Source | 73,849,000Source | 25,998,000Source | 62,436,000Source | 26,504,000Source | 47,051,000Source | 61,641,000Source |
| Additional Financial Items | ||||||||||
| Share-based Payment Arrangement, ExpenseUSD | — | — | 1,500,000Source | 144,000Source | 1,950,000Source | 634,000Source | 2,004,000Source | 233,000Source | 3,948,000Source | 439,000Source |
| Cash, Cash Equivalents, and Short-term InvestmentsUSD | — | — | 126,400,000Source | — | 73,900,000Source | 141,800,000Source | 91,200,000Source | 151,300,000Source | 110,000,000Source | — |
| General and Administrative ExpenseUSD | — | — | 3,966,000Source | 1,026,000Source | 4,629,000Source | 2,703,000Source | 5,897,000Source | 2,715,000Source | 13,789,000Source | 5,305,000Source |
| Income Tax Expense (Benefit)USD | — | — | — | — | — | — | — | — | 0Source | 0Source |
| Net Income (Loss) Attributable to ParentUSD | — | — | -16,316,000Source | -4,182,000Source | -14,387,000Source | -14,367,000Source | -21,588,000Source | -9,310,000Source | -57,591,000Source | -20,588,000Source |
| Nonoperating Income (Expense)USD | — | — | 1,387,000Source | 909,000Source | 697,000Source | 1,481,000Source | 876,000Source | 1,160,000Source | 5,134,000Source | 2,197,000Source |
| Operating ExpensesUSD | — | — | 17,703,000Source | 5,091,000Source | 15,084,000Source | 15,848,000Source | 22,464,000Source | 10,470,000Source | 62,725,000Source | 22,785,000Source |
| Operating Lease, ExpenseUSD | — | — | — | — | — | — | — | — | 900,000Source | — |
| Payments of Financing CostsUSD | — | — | — | — | — | — | — | — | 0Source | 1,193,000Source |
| Proceeds from Issuance of Common StockUSD | — | — | — | — | — | — | — | — | 195,000Source | 0Source |
| Proceeds from Stock Options ExercisedUSD | — | — | — | — | — | — | 4,000Source | 110,000Source | 366,000Source | 332,000Source |
| Revenue from Contract with Customer, Including Assessed TaxUSD | — | — | — | — | — | — | 0Source | 0Source | 0Source | — |
| Unrealized Gain (Loss) on InvestmentsUSD | — | — | 36,000Source | -91,000Source | 2,000Source | -7,000Source | -13,000Source | -15,000Source | -5,000Source | -217,000Source |
income statement · annual statements
| Line item | Q4 2025 | Q4 2024 | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q1 2026 | Q1 2025 | FY 2025 | FY 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Income (Loss)USD | — | — | -17,703,000Source | -5,091,000Source | -15,084,000Source | -15,848,000Source | -22,464,000Source | -10,470,000Source | -62,725,000Source | -22,785,000Source |
| Income Tax Expense (Benefit)USD | — | — | — | — | — | — | — | — | 0Source | 0Source |
| Net Income (Loss) Attributable to ParentUSD | — | — | -16,316,000Source | -4,182,000Source | -14,387,000Source | -14,367,000Source | -21,588,000Source | -9,310,000Source | -57,591,000Source | -20,588,000Source |
| Earnings Per Share, BasicUSD per share | — | — | -0.75Source | -1.05Source | -0.66Source | -0.66Source | -0.99Source | -0.71Source | -2.93Source | -5.15Source |
| Earnings Per Share, DilutedUSD per share | — | — | -0.75Source | -1.05Source | -0.66Source | -0.66Source | -0.99Source | -0.71Source | -2.93Source | -5.15Source |
| Weighted Average Number of Shares Outstanding, Basicshares | — | — | 21,713,858Source | 3,986,997Source | 21,846,251Source | 21,690,275Source | 21,815,995Source | 13,194,718Source | 19,624,626Source | 3,996,376Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | — | — | 21,713,858Source | 3,986,997Source | 21,846,251Source | 21,690,275Source | 21,815,995Source | 13,194,718Source | 19,624,626Source | 3,996,376Source |
| Additional Financial Items | ||||||||||
| General and Administrative ExpenseUSD | — | — | 3,966,000Source | 1,026,000Source | 4,629,000Source | 2,703,000Source | 5,897,000Source | 2,715,000Source | 13,789,000Source | 5,305,000Source |
| Labor and Related ExpenseUSD | — | — | 3,046,000Source | 1,198,000Source | 3,376,000Source | 2,704,000Source | 3,709,000Source | 2,057,000Source | 11,965,000Source | 4,272,000Source |
| Nonoperating Income (Expense)USD | — | — | 1,387,000Source | 909,000Source | 697,000Source | 1,481,000Source | 876,000Source | 1,160,000Source | 5,134,000Source | 2,197,000Source |
| Operating ExpensesUSD | — | — | 17,703,000Source | 5,091,000Source | 15,084,000Source | 15,848,000Source | 22,464,000Source | 10,470,000Source | 62,725,000Source | 22,785,000Source |
| Operating Lease, ExpenseUSD | — | — | — | — | — | — | — | — | 900,000Source | — |
| Research and Development ExpenseUSD | — | — | 13,737,000Source | 4,065,000Source | 10,455,000Source | 13,145,000Source | 16,567,000Source | 7,755,000Source | 48,936,000Source | 17,363,000Source |
| Revenue from Contract with Customer, Including Assessed TaxUSD | — | — | — | — | — | — | 0Source | 0Source | 0Source | — |
Filing attachments
ck0001774857-ex99_1.htm · 8-K · 2026-10-23
Exhibit 99.1 Aardvark Therapeutics Reports Exploratory Data from the Terminated HERO and Open-Label Extension Trials • HERO trial terminated early (67 of 90 planned participants randomized); all efficacy data are considered exploratory • HQ-CT scores fell by Week 2 of dose escalation on ARD-101 and returned to near baseline within two weeks of stopping treatment, with less rebound on placebo • OLE participants switching from placebo to ARD-101 saw a further reduction in HQ-CT scores by Day …
Read attachment ↗ck0001774857-ex99_2.htm · 8-K · 2026-10-23
HERO/OLE Update EXHIBIT 99.2 Disclaimer Aardvark Therapeutics, Inc. (“we”, “us,” “our” or the “Company”) does not (nor its respective affiliates, directors, members, officers, employees or agents) make any representation or warranty, express or implied, as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions contained in this presentation or any other written or oral information made available to any interested party or its…
Read attachment ↗ck0001774857-ex99_1.htm · 8-K · 2026-10-22
Exhibit 99.1 Aardvark Therapeutics Announces FDA Has Lifted the Clinical Hold on ARD-101 for the Treatment of Prader-Willi Syndrome and Will Host Webcast to Review the Available Exploratory Phase 3 HERO/OLE Data Clinical development of ARD-101 for hyperphagia in Prader-Willi Syndrome (PWS) may resume Aardvark will host a webcast to review available dataset from the terminated Phase 3 HERO trial and OLE trial on Friday, October 23, 2026, at 8:00 a.m. EST SAN DIEGO, Oct. 22, 2026 (GLOBE NEWSWI…
Read attachment ↗ck0001774857-ex99_1.htm · 8-K · 2026-10-08
Exhibit 99.1 Aardvark Therapeutics Appoints Clinical Development Leader David Zhang, Ph. D., MBA, to its Board of Directors Brings more than 25 years of experience in clinical strategy, biostatistics and regulatory submissions from Abivax, Alumis, MyoKardia and Genentech/Roche SAN DIEGO, Oct. 08, 2026 (GLOBE NEWSWIRE) -- Aardvark Therapeutics, Inc. (Aardvark or the Company) (Nasdaq: AARD), a clinical-stage biopharmaceutical company focused on developing novel, small-molecule therapeutics to a…
Read attachment ↗ck0001774857-ex99_1.htm · 8-K · 2026-08-11
EX-99.1 2 ck0001774857-ex99_1.htm EX-99.1 EX-99.1 Exhibit 99.1 Aardvark Therapeutics Reports Second Quarter 2026 Financial Results and Provides Business Updates Assessing unblinded Phase 3 HERO and OLE data for ARD-101 in PWS in the third quarter of 2026 to support an informed determination of next steps Remains in active discussions with the FDA to support resolution of the clinical hold for ARD-101 program $73.9 million in cash, cash equivalents and short-term investments as of June 3…
Read attachment ↗ck0001774857-ex99_1.htm · 8-K · 2026-05-14
EX-99.1 2 ck0001774857-ex99_1.htm EX-99.1 EX-99.1 Exhibit 99.1 Aardvark Therapeutics Plans to Unblind HERO and OLE Data to Inform Path Forward Following FDA Clinical Hold SAN DIEGO, May 14, 2026 (GLOBE NEWSWIRE) -- Aardvark Therapeutics, Inc. (Aardvark or the Company) (Nasdaq: AARD), a clinical-stage biopharmaceutical company focused on developing novel, small-molecule therapeutics to activate innate homeostatic pathways for the treatment of metabolic diseases, today announced that the U.…
Read attachment ↗