Aardvark Therapeutics SEC Filings

Aardvark Therapeutics filed a current report describing leadership changes and the creation of a new dermatology-focused subsidiary. The company formed Ardia Therapeutics, a wholly owned U.S. unit that will develop DIA-615, a clinic-ready topical candidate for inflammatory skin diseases such as psoriasis.

Former Chief Operating Officer Bryan Jones, Ph.D., became Ardia’s Chief Executive Officer and entered a letter agreement covering salary through up to nine months after his transition, continued option exercisability while employed at Ardia, and accelerated vesting of 17,797 stock options plus monthly vesting of 2,542 additional options for three months. Nelson Sun, already Chief Financial Officer, was appointed Chief Operating Officer as well, with no material compensation change, and Derrick C. Li was named Chief Business Officer. The filing reiterates Aardvark’s core pipeline, including Phase 3 oral ARD-101 for Prader-Willi syndrome and Phase 2 combination candidate ARD-201 for obesity-related conditions.

Aardvark Therapeutics, Inc. reported that Chief Financial Officer Nelson Sun received a new stock option grant. On February 9, 2026, he was granted an option to buy 70,549 shares of common stock at an exercise price of $13.48 per share.

According to the vesting terms, one quarter of these option shares vest on February 9, 2027, with the remaining three quarters vesting in equal monthly installments over the following three years, so long as he remains in continuous service. After this grant, he beneficially owns 70,549 derivative securities directly.

Aardvark Therapeutics Chief Medical Officer receives stock option grant. Chief Medical Officer Manasi Jaiman was granted a stock option to buy 70,549 shares of Aardvark Therapeutics common stock at an exercise price of $13.48 per share on February 9, 2026.

The option vests over four years: one-quarter of the shares vest on February 9, 2027, and the remaining shares vest in equal monthly installments thereafter, subject to continued service. Following this grant, 70,549 derivative securities are beneficially owned directly.

Aardvark Therapeutics, Inc. director, chief executive officer, and 10% owner Lee Tien-Li reported receiving a stock option grant. On February 9, 2026, they were granted an option to buy 203,851 shares of common stock at an exercise price of $13.48 per share.

According to the vesting terms, one quarter of the option will vest on February 9, 2027, with the remaining three quarters vesting in equal monthly installments over the following three years, contingent on continued service. After this grant, 203,851 derivative securities are held directly.

Aardvark Therapeutics, Inc. announced U.S. Institutional Review Board approval of an amended protocol for its Phase 3 HERO trial of lead candidate ARD-101 in Prader-Willi Syndrome. The change lowers the minimum enrollment age from 10 to 7 years for U.S. participants.

The randomized, double-blind, placebo-controlled HERO study plans to enroll 90 patients across the U.S., Australia, Canada, the U.K. and South Korea, measuring change in Hyperphagia Questionnaire for Clinical Trials scores at Week 12 as the primary endpoint. Enrollment is described as progressing steadily, with topline data targeted for the third quarter of 2026.

Aardvark Therapeutics, Inc. filed a current report to note that on January 12, 2026 it updated its corporate presentation. The presentation, dated January 2026, is intended for meetings with investors, analysts and other stakeholders and will also be posted on the company’s website.

The updated corporate presentation is furnished as Exhibit 99.1 and is incorporated by reference into the Other Events section. The company states the presentation is current as of January 12, 2026 and disclaims any obligation to update this material in the future.

Aardvark Therapeutics, Inc. reported an insider share purchase by its Chief Financial Officer, Nelson Sun. On 12/11/2025, he bought 3,000 shares of common stock in an open-market transaction coded "P" at a price of $14.40 per share. After this transaction, he beneficially owns 108,484 shares of Aardvark Therapeutics common stock in direct ownership.

Aardvark Therapeutics, Inc. reported an insider share purchase by its Chief Executive Officer, who is also a director and 10% owner. On 12/11/2025, the insider bought 7,000 shares of common stock at a price of $14.485 per share. Following this transaction, the insider beneficially owned 1,551,613 common shares directly and 1,474,028 common shares indirectly through a spouse, according to the filing.

Aardvark Therapeutics (AARD) filed its Q3 2025 10‑Q, reporting a net loss of $16.3 million for the quarter and $40.0 million year‑to‑date. Operating expenses rose as the company advanced its pipeline, with Q3 research and development at $13.7 million and general and administrative at $4.0 million.

Liquidity strengthened after the February 2025 IPO, which raised approximately $87.5 million net. As of September 30, 2025, cash, cash equivalents and short‑term investments totaled $126.4 million, which management believes supports operations for at least one year after issuance and, based on current plans, into 2027. Total assets were $133.2 million and stockholders’ equity was $122.4 million.

The company is running the Phase 3 HERO trial of ARD‑101 in Prader‑Willi syndrome, initiated in December 2024 with enrollment underway since Q2 2025. In October 2025, eligibility was expanded by lowering the minimum age to 10 years. Topline HERO data are anticipated in Q3 2026. Shares outstanding were 21,745,265 as of September 30, 2025; 21,773,272 as of November 3, 2025.

Aardvark Therapeutics, Inc. furnished a Form 8-K to announce a press release with financial results for the third quarter ended September 30, 2025, along with pipeline and business updates. The press release is provided as Exhibit 99.1, dated November 13, 2025.

The company states the information in Item 2.02 (including Exhibit 99.1) is furnished, not filed, and is not subject to Section 18 liabilities or incorporated by reference except as specifically noted. The filing also includes the Cover Page Interactive Data File as Exhibit 104. Aardvark’s common stock (AARD) is listed on The Nasdaq Stock Market LLC.