Aardvark Therapeutics, Inc. develops clinical-stage small-molecule therapeutics for metabolic diseases by targeting innate homeostatic pathways, including compounds directed at Bitter Taste Receptors. News about AARD centers on ARD-101 for hyperphagia associated with Prader-Willi Syndrome, the HERO clinical program, ARD-201 obesity studies, and interactions with regulators and review boards around trial protocols and safety monitoring.
Company updates also cover quarterly financial results, equity incentive grants, leadership appointments, and the establishment of Ardia Therapeutics, a wholly owned U.S. subsidiary supporting a dermatology pipeline led by DIA-615 for inflammatory skin diseases.
Aardvark Therapeutics (NASDAQ: AARD) reported its full year 2024 financial results and business highlights. The company's lead candidate ARD-101 showed promising results in a Phase 2 trial for Prader-Willi Syndrome (PWS), demonstrating up to 16-point HQ-CT reduction in hyperphagia and improvements in body composition over 28 days.
The company successfully completed its IPO in February 2025, raising $97.9 million in gross proceeds. Financial results show cash position of $73.7 million as of December 31, 2024. R&D expenses increased to $17.4 million from $4.5 million in 2023, while G&A expenses rose to $5.3 million from $2.2 million. Net loss widened to $20.6 million from $7.2 million in 2023.
Key upcoming milestones include Phase 2 HONOR trial initiation for hypothalamic obesity and Phase 2 EMPOWER trial for ARD-201 in H2 2025, with Phase 3 HERO trial topline data expected in early 2026.
Aardvark Therapeutics (Nasdaq: AARD), a clinical-stage biopharmaceutical company focused on developing small-molecule therapeutics for metabolic diseases, has announced the pricing of its initial public offering. The company is offering 5,888,000 shares of common stock at $16.00 per share, expecting to raise gross proceeds of approximately $94.2 million.
Trading is set to commence on the Nasdaq Global Select Market on February 13, 2025, under the ticker symbol 'AARD'. The offering is expected to close on February 14, 2025. Additionally, underwriters have a 30-day option to purchase up to 883,200 additional shares at the public offering price. Morgan Stanley, BofA Securities, Cantor, and RBC Capital Markets are serving as joint book-running managers for the IPO.