Quarterly ResultAug 11, 2026, 05:11 PM
Aardvark Terminates ARD-101 PWS Trials; Reports Q2 Net Loss $14.4M
AI Summary
Aardvark Therapeutics reported its second quarter 2026 financial results and significant business updates. The company terminated its Phase 3 HERO and OLE trials for ARD-101 in Prader-Willi Syndrome (PWS) in June 2026, following a full clinical hold placed by the FDA on the ARD-101 program in May 2026. Aardvark is assessing unblinded data to determine next steps for the program. The company reported a net loss of $14.4 million for Q2 2026 and holds $73.9 million in cash, projecting operations into late 2027.
Key Highlights
- ARD-101 Phase 3 HERO and OLE trials for PWS terminated in June 2026.
- FDA placed full clinical hold on ARD-101 IND program in May 2026.
- Cash, cash equivalents, and short-term investments totaled $73.9 million as of June 30, 2026.
- Company projects existing cash to fund operations into late 2027.
- Q2 2026 net loss was $14.4 million, consistent with Q2 2025.
- Q2 2026 R&D expenses decreased to $10.5 million from $13.1 million YoY.
- Q2 2026 G&A expenses increased to $4.6 million from $2.7 million YoY.
Price Impact
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