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Aardvark Therapeutics
Aardvark Therapeutics (AARD) investor relations material
Aardvark Therapeutics Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary23 Mar, 2026
Executive summary
Voluntary pause of Phase 3 HERO and OLE trials for ARD-101 in Prader-Willi Syndrome (PWS) due to reversible cardiac observations in a healthy volunteer study; further guidance expected in Q2 2026.
ARD-201 obesity program, including POWER and STRENGTH trials, also on voluntary pause pending next steps with ARD-101; further guidance expected in Q2 2026.
Clinical and preclinical data from ARD-101 program published, showing significant reduction in hunger and engagement of gut-brain pathways.
Financial highlights
Cash, cash equivalents, and short-term investments totaled $110.0 million as of December 31, 2025, up from $73.7 million at year-end 2024, supporting operations into Q2 2027.
R&D expenses for Q4 2025 were $14.3 million (vs. $8.1 million Q4 2024); full-year 2025 R&D expenses were $48.9 million (vs. $17.4 million in 2024), mainly due to increased external and personnel costs.
G&A expenses for Q4 2025 were $4.4 million (vs. $1.4 million Q4 2024); full-year 2025 G&A expenses were $13.8 million (vs. $5.3 million in 2024), driven by higher personnel, legal, and insurance costs.
Net loss for Q4 2025 was $17.6 million (vs. $8.8 million Q4 2024); full-year net loss was $57.6 million (vs. $20.6 million in 2024).
Outlook and guidance
Further guidance on ARD-101 and ARD-201 programs expected in Q2 2026 following ongoing review and FDA engagement.
Cash runway projected to fund operations into the second quarter of 2027.
FDA feedback on ARD-101 cardiac safety profile
Strategic rationale for the ARD-201 trial pause
Impact of trial pauses on R&D spend trajectory
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Latest events from Aardvark Therapeutics
- Biopharma seeks $400M shelf, $150M ATM for R&D; lead trials paused for safety review.AARD
Registration filing23 Mar 2026 - New gut-brain drugs show promise for obesity and Prader-Willi, with pivotal trials underway.AARDCantor Global Healthcare Conference 20255 Jan 2026
- Oral therapies in late-stage trials target hunger in PWS and obesity, backed by strong funding.AARDCorporate Presentation16 Dec 2025
- Oral gut-restricted therapy shows promise for obesity and Prader-Willi, with phase III data due 2026.AARDEvercore ISI 8th Annual HealthCONx Conference7 Dec 2025
- Phase 3 Prader-Willi data expected Q3 2026; obesity program readout by end of next year.AARDPiper Sandler 37th Annual Healthcare Conference3 Dec 2025
- IPO seeks $88.9M to advance late-stage trials for oral TAS2R agonist in rare hyperphagia and obesity.AARDRegistration Filing29 Nov 2025
- Biotech seeks IPO to fund late-stage trials for hunger-targeted obesity drugs amid high risk.AARDRegistration Filing29 Nov 2025
- Pivotal phase III and multiple phase II trials target hunger-driven obesity, with key data in 2026.AARDBofA Securities 2025 Healthcare Conference25 Nov 2025
- ARD-101 shows promise for Prader-Willi hyperphagia and is advancing toward pivotal approval.AARDRBC Capital Markets Global Healthcare Conference 202525 Nov 2025
Next Aardvark Therapeutics earnings date
Q1 20268 Jun, 2026
Aardvark Therapeutics
Next Aardvark Therapeutics earnings date
Q1 20268 Jun, 2026
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@ankurshah47_ x.com
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Amina0781App Store
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@theshortbearx.com
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