Aardvark Therapeutics, Inc.

Aardvark Therapeutics, Inc. announced its 2026 Annual Meeting of Stockholders will be held virtually on August 14, 2026, at 9:00 a.m. Pacific Time. Shareholders as of June 18, 2026, are eligible to vote on proposals including the election of two Class I directors, the ratification of BDO USA, P.C. as the independent auditor for 2026, and the approval of repricing certain outstanding stock options under the 2017, 2025, and 2025 Inducement Equity Incentive Plans. The Board of Directors recommends voting 'FOR' all proposals.

Aardvark Therapeutics, Inc. has entered into retention bonus agreements with its Chief Financial Officer and Chief Operating Officer, Nelson Sun, and its Chief Medical Officer, Manasi Jaiman. Mr. Sun will receive a total cash retention bonus of $346,500, while Dr. Jaiman will receive $357,000. Both bonuses are contingent on their continued employment through January 1, 2027, or earlier termination without cause or resignation for good reason.

Aardvark Therapeutics, Inc. announced that the U.S. Food and Drug Administration (FDA) has placed a full clinical hold on its investigational new drug application (IND) for ARD-101. This hold affects all ongoing clinical studies, including the Phase 3 HERO trial for Prader-Willi Syndrome and the open-label extension trial. The company is actively engaging with the FDA to resolve the hold and plans to unblind accumulated clinical data to determine the program's future. As of March 31, 2026, Aardvark reported $91.2 million in cash, cash equivalents, and short-term investments, expected to fund operations into mid-2027.

Aardvark Therapeutics reported a significant increase in net loss for Q1 2026, reaching $21.6 million, up from $9.3 million in Q1 2025, primarily due to higher research and development and general and administrative expenses. The company's cash, cash equivalents, and short-term investments totaled $91.2 million as of March 31, 2026, which is expected to sustain operations for at least one year. In March 2026, Aardvark established an ATM facility to potentially raise up to $150.0 million.

Aardvark Therapeutics announced a voluntary pause in enrollment and dosing for its ARD-101 and ARD-201 clinical programs. This decision followed unexpected reversible cardiac observations in a separate healthy volunteer trial, with further guidance expected in Q2 2026. For the first quarter ended March 31, 2026, the company reported a net loss of $21.6 million, an increase from $9.3 million in Q1 2025. Aardvark held $91.2 million in cash, cash equivalents, and short-term investments, which is expected to fund operations into mid-2027.