Aardvark Therapeutics Announces Inducement Grant Under Nasdaq Listing Rule 5635(C)(4)

Rhea-AI Summary

Aardvark Therapeutics (Nasdaq: AARD) announced an inducement equity award granted on November 10, 2025 to one new employee under its 2025 Inducement Equity Incentive Plan in accordance with Nasdaq Listing Rule 5635(c)(4). The award is a stock option to purchase 4,881 shares of common stock with an exercise price equal to the closing price on the grant date, $10.44. The option vests over four years: 25% vest on the one-year anniversary of employment commencement and the remainder vests monthly at 1/48th thereafter, subject to continued employment.

SAN DIEGO, Nov. 11, 2025 (GLOBE NEWSWIRE) -- Aardvark Therapeutics, Inc. (Aardvark) (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 on November 10, 2025, one new employee was granted an inducement award consisting of a stock option to purchase 4,881 shares of common stock.

The option was granted pursuant to the Aardvark Therapeutics, Inc. 2025 Inducement Equity Incentive Plan and was granted as an inducement material to the employee’s employment with Aardvark in accordance with Nasdaq Listing Rule 5635(c)(4).

The exercise price of the option is equal to the closing price of Aardvark’s common stock on the date of grant, or $10.44. The option will vest over four years, with 25% of the total number of shares vesting on the one-year anniversary of the date of commencement of the employee’s employment with Aardvark and 1/48^th of the total number of shares subject to the option vesting monthly thereafter, subject to continued employment.

About Aardvark Therapeutics, Inc.
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. Recognizing hunger (the discomfort from not having eaten recently) is a distinct neural signaling pathway separate from appetite (the reward-seeking, desirability of food). Our programs explore therapeutic applications in hunger-associated indications and potential complementary uses with anti-appetite therapies. Our lead compound, oral ARD-101, is in Phase 3 clinical development for the treatment of hyperphagia associated with PWS, a rare disease characterized by insatiable hunger. Aardvark is also developing ARD-201, a planned fixed-dose combination of ARD-101 with a DPP-4 inhibitor, and conducting two separate trials with a goal of addressing some of the limitations of currently marketed GLP-1 therapies for the treatment of obesity and obesity-related conditions. For more information, visit aardvarktherapeutics.com.

Contact:
Carolyn Hawley, Inizio Evoke Comms
(619) 849-5382
Carolyn.hawley@inizioevoke.com

FAQ

What did Aardvark (AARD) announce on November 11, 2025 about an inducement grant?

Aardvark announced a November 10, 2025 inducement stock option for one new employee to purchase 4,881 shares under its 2025 Inducement Equity Incentive Plan.

What is the exercise price and grant date for the Aardvark (AARD) inducement option?

The exercise price equals the closing share price on the grant date: $10.44, with the option granted on November 10, 2025.

How does the Aardvark (AARD) inducement option vest?

The option vests over four years: 25% on the one-year anniversary of employment start and then monthly at 1/48th of the total shares thereafter, subject to continued employment.

Under which rule was the Aardvark (AARD) inducement award granted?

The award was granted as an inducement material to employment in accordance with Nasdaq Listing Rule 5635(c)(4).

How many employees received inducement awards in the Aardvark (AARD) announcement?

One new employee received the inducement option described in the announcement.

Does the Aardvark (AARD) release state any cash payment or immediate dilution from the inducement option?

The announcement specifies a stock option grant of 4,881 shares at an exercise price of $10.44; it does not state any immediate cash payment or quantify dilution.