Aardvark Therapeutics, Inc. (AARD) SEC Filings

Aardvark Therapeutics, Inc. (AARD) received a Rule 144 notice from officer Nelson Sun covering proposed open-market sales of up to 33,911 shares of common stock through Morgan Stanley Smith Barney LLC on NASDAQ. The shares have an indicated aggregate market value of $169,894.11, compared with 21,884,846 common shares outstanding.

The planned sales include 30,166 shares acquired from previously exercised stock options and 3,745 shares acquired via the Employee Stock Purchase Plan. The notice also reports that Sun, under a Rule 10b5-1 trading plan, sold 14,754 shares for $73,778.18 on September 10, 2026.

Aardvark Therapeutics, Inc. (AARD) is the issuer for a planned resale of restricted securities under Rule 144 by stockholder Nelson Sun. The notice covers 42,843 shares of common stock to be sold through Morgan Stanley Smith Barney, with an indicated aggregate market value of $210,787.56. The shares come from an open market purchase, vested option shares, and shares converted from Series C Preferred stock.

Aardvark Therapeutics, Inc. (AARD) reported that director Jeffrey Chi received a grant of 44,964 stock options on August 14, 2026. The options have an exercise price of $6.54 per share and expire on August 14, 2036. According to the terms, the option vests in full on the earlier of August 14, 2027 or immediately prior to the company’s next Annual Meeting of Stockholders following the grant date, subject to his continuous service through the applicable vesting date.

Aardvark Therapeutics, Inc. (AARD) reported that director Susan E. Graf received a grant of 44,964 stock options to purchase Common Stock. The options have an exercise price of $6.54 per share, expire on August 14, 2036, and were awarded at no purchase price.

The options vest in full on the earlier of August 14, 2027 or immediately before the company’s next Annual Meeting of Stockholders following the grant date, subject to her continuous service through the vesting date. Following this grant, she holds 44,964 options directly.

Aardvark Therapeutics, Inc. (AARD) reported that director Roy D. Baynes received a grant of 44,964 stock options on August 14, 2026. The options have an exercise price of $6.54 per share, expire on August 14, 2036, and are held as a direct ownership position of 44,964 derivative securities. According to the grant terms, the option vests in full on the earlier of August 14, 2027 or immediately prior to the company’s next Annual Meeting of Stockholders following the grant date, subject to his continuous service through the applicable vesting date.

Aardvark Therapeutics, Inc. (AARD) reported that director Victor Edward Tong Jr received a grant of stock options for 44,964 shares of common stock at an exercise price of $6.54 per share. These options vest in full on the earlier of August 14, 2027 or immediately prior to the next Annual Meeting of Stockholders, subject to continuous service, and expire on August 14, 2036. Following this award, Tong holds 44,964 option shares from this grant.

Aardvark Therapeutics, Inc. reported the results of its 2026 annual meeting of stockholders held on August 14, 2026. Of 21,884,158 common shares outstanding as of the June 18, 2026 record date, 11,992,479 shares were represented, forming a 54.79% quorum. Stockholders elected Class I directors Victor Tong, Jr. and Jeffrey Chi, Ph.D. to serve until the 2029 annual meeting or until successors are elected and qualified. Stockholders also ratified the appointment of BDO USA, P.C. as independent registered public accounting firm for the year ending December 31, 2026. In addition, stockholders approved the repricing of certain outstanding stock options under the 2017 Plan, the 2025 Plan and the 2025 Inducement Plan held by eligible participants, based on the stated voting results.

Aardvark Therapeutics is a clinical-stage biopharmaceutical company with no product revenue and an accumulated deficit of $151.9 million as of June 30 2026. For the quarter, it reported a net loss of $14.4 million (basic and diluted net loss per share of $0.66), and for the first six months a net loss of $36.0 million, driven by research and development and public-company overhead.

R&D expense was $10.5 million in the quarter and $27.0 million year‑to‑date; general and administrative expense reached $4.6 million for the quarter and $10.5 million year‑to‑date. Cash, cash equivalents and short‑term investments totaled $73.9 million, and management believes this will fund operations into late 2027. The ARD‑101 program is under an FDA clinical hold; Aardvark terminated its Phase 3 HERO and open‑label extension trials and paused ARD‑201 trials, while evaluating data and required safety studies. The company also established a $150.0 million at‑the‑market equity facility under a $400.0 million shelf registration to provide future financing flexibility.

Aardvark Therapeutics reported second quarter 2026 results and major pipeline developments for ARD-101 in Prader-Willi Syndrome. The company is assessing unblinded Phase 3 HERO and Open Label Extension data in the third quarter of 2026 to determine next steps after terminating both trials in June 2026. In May 2026, the FDA placed a full clinical hold on the ARD-101 investigational new drug application, covering all ongoing studies.

Aardvark held $73.9 million in cash, cash equivalents and short-term investments as of June 30, 2026, which it believes will fund operations into late 2027. Second quarter 2026 research and development expenses were $10.5 million, down from $13.1 million a year earlier, while general and administrative expenses increased to $4.6 million from $2.7 million. Net loss was $14.4 million, consistent with the prior-year quarter, and total assets declined to $81.5 million from $117.2 million at December 31, 2025.