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Companies / Health Care / Aardvark Therapeutics, Inc.
AARD

Aardvark Therapeutics, Inc.

Health CarePharmaceutical Preparations
Ticker AARDSAN DIEGO, CAFiscal year ends DecemberBook value per share $3.43Diluted shares 21.8M

Aardvark Therapeutics, Inc. (Nasdaq: AARD) is a clinical-stage biopharmaceutical company developing small-molecule therapeutics that activate innate homeostatic pathways to treat metabolic diseases, with an emphasis on hunger-associated conditions. Its wholly owned lead candidate, ARD-101, is an oral, gut-restricted… From the company’s description.

In fiscal 2025, Aardvark Therapeutics, Inc. reported a net loss of $57.59M. Operations used $54.17M in cash.

Fiscal year 2025 · ends 12-31The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
—
0.00%FY2025
$-57.59MFY2025
Last 12 mo $-69.89M
-54.01%FY2025
Last 12 mo -93.44%
Cash & financing
$-54.17MFY2025
Last 12 mo $-69.41M
$-54.27MFY2025
Last 12 mo $-69.41M
—
19.6MFY2025
Last 12 mo 21.8M

Dotted labels explain each measure. is shown separately from the annual figures.

What Aardvark Therapeutics, Inc. does

In the company’s own words

Aardvark Therapeutics, Inc. (Nasdaq: AARD) is a clinical-stage biopharmaceutical company developing small-molecule therapeutics that activate innate homeostatic pathways to treat metabolic diseases, with an emphasis on hunger-associated conditions. Its wholly owned lead candidate, ARD-101, is an oral, gut-restricted bitter taste receptor (TAS2R) agonist designed to stimulate local release of satiety-related gut hormones; it is being developed for hyperphagia associated with Prader-Willi syndrome. The company’s second program, ARD-201, combines ARD-101 with a DPP-4 inhibitor and was planned for obesity and related conditions. Development of these programs’ clinical trials is paused while the company evaluates safety observations and discusses next steps with the FDA. Aardvark also conducts internal drug-discovery work to expand its pipeline across metabolic, inflammatory and adjacent indications. The company was founded in 2017, and its common stock began trading publicly following its February 2025 IPO. Its website is www.aardvarktherapeutics.com.

Company details
Sector
Health Care
Industry (SIC)
Pharmaceutical Preparations
Headquarters
SAN DIEGO, CA
Fiscal year end
December
CIK
1774857
SIC
2834

Financial performance, year by year

Fiscal 2025–2025 · USD
$-71.12M$-67.43M$-63.74M$-60.05M$-56.36M2025Last 12 moLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Aardvark Therapeutics, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

42
funds hold it
0 of 35
superinvestors hold it
$6.16M
held by funds, at market
5.2%
of shares held by funds

Largest fund holders · Aardvark Therapeutics, Inc.’s weight in each

VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.00%of fund net assets
Fidelity Small Cap Index Fund
FSSNX · Fidelity Salem Street Trust
—of fund net assets
iShares Biotechnology ETF
IBB · iShares Trust
0.01%of fund net assets
Fidelity Extended Market Index Fund
FSMAX · Fidelity Concord Street Trust
—of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Could not be determined for this company: bond issues.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

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