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

Rhea-AI Summary

Aardvark Therapeutics (NASDAQ:AARD), a clinical-stage biopharmaceutical company developing small-molecule therapeutics for metabolic diseases, has granted inducement stock options to two new employees. The awards, issued on August 28, 2025, consist of options to purchase 20,013 shares of common stock at an exercise price of $8.49 per share.

The options were granted under the company's 2025 Inducement Equity Incentive Plan and will vest over four years, with 25% vesting after one year and the remaining vesting monthly at 1/48th of the total shares, contingent on continued employment.

SAN DIEGO, Sept. 04, 2025 (GLOBE NEWSWIRE) -- Aardvark Therapeutics, Inc. (Aardvark) (Nasdaq: AARD), a clinical-stage biopharmaceutical company focused on developing novel, small-molecule therapeutics for the treatment of metabolic diseases, today announced that on August 28, 2025, two new employees were granted inducement awards consisting of stock options to purchase an aggregate of 20,013 shares of common stock.

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

The exercise price of each option is equal to the closing price of Aardvark’s common stock on the date of grant, or $8.49. Each 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 such employee’s employment with Aardvark and 1/48th of the total number of shares subject to each 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. ARD-101 is also being studied in hypothalamic obesity. Aardvark is also developing ARD-201, a fixed-dose combination of ARD-101 with a DPP-4 inhibitor, 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 stock options did Aardvark Therapeutics (AARD) grant to new employees in August 2025?

Aardvark granted options to purchase 20,013 shares of common stock at $8.49 per share to two new employees on August 28, 2025.

What is the vesting schedule for Aardvark Therapeutics' (AARD) inducement stock options?

The options vest over 4 years, with 25% vesting after one year and the remaining vesting monthly at 1/48th of total shares, subject to continued employment.

What is Aardvark Therapeutics' (AARD) main business focus?

Aardvark is a clinical-stage biopharmaceutical company focused on developing novel, small-molecule therapeutics for metabolic diseases.

Under which plan were the Aardvark Therapeutics (AARD) inducement awards granted?

The options were granted under the Aardvark Therapeutics, Inc. 2025 Inducement Equity Incentive Plan in accordance with Nasdaq Listing Rule 5635(c)(4).