Aardvark Therapeutics, Inc.
Aardvark Therapeutics, Inc. (Nasdaq: AARDVARK) is a clinical-stage biopharmaceutical company focused on developing novel small-molecule therapeutics targeting innate homeostatic pathways for the treatment of metabolic diseases. The company's website is www.aardvarktherapeutics.com. From the company’s description.
Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. 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: AARDVARK) is a clinical-stage biopharmaceutical company focused on developing novel small-molecule therapeutics targeting innate homeostatic pathways for the treatment of metabolic diseases. The company's website is www.aardvarktherapeutics.com.
The company's research centers on selective compounds that target Bitter Taste Receptors (TAS2Rs) expressed in the gut lumen. These receptors normally respond to chemicals in food and participate in the gut-brain axis. Aardvark's approach activates these receptors to induce secretion of endogenous signaling molecules including cholecystokinin (CCK), peptide YY (PYY), and glucagon-like peptide-1 (GLP-1), which help suppress hunger and regulate metabolic pathways.
Aardvark's lead product candidate is ARD-101, an oral, largely gut-restricted small-molecule agonist of certain TAS2Rs expressed in the gut lumen. ARD-101 is composed of denatonium acetate monohydrate and is designed to elicit endogenous release of CCK by leveraging the body's natural response to TAS2R agonism. The company completed a Phase 1 clinical trial in healthy volunteers and a Phase 2 clinical trial in subjects with hyperphagia associated with Prader-Willi Syndrome (PWS). In December 2024, Aardvark initiated a Phase 3 clinical trial called the HERO trial for hyperphagia associated with PWS. However, in February 2026, the company voluntarily paused enrollment and dosing in the HERO trial following reversible cardiac observations in a healthy volunteer study and is collaborating with the FDA to determine next steps.
The company's second program, ARD-201, is a planned fixed-dose combination of ARD-101 and a dipeptidyl peptidase-4 (DPP-4) inhibitor for obesity and obesity-related conditions. Clinical trials for ARD-201 have been voluntarily paused pending completion of the safety evaluation of ARD-101.
Aardvark completed its initial public offering in February 2025, raising approximately $87.5 million in net proceeds. Prior to the IPO, the company had raised $129.1 million from leading life sciences and institutional investors, including a $85.0 million Series C financing in May 2024.
Company details
- Sector
- Healthcare
- Industry
- Pharmaceutical Preparations
- Headquarters
- SAN DIEGO, CA
- Fiscal year end
- December
- CIK
- 1774857
- SIC
- 2834
Financial performance, year by year
Fiscal 2025–2025 · USDThe 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.
Who owns Aardvark Therapeutics, Inc. — and what changed
Funds as of 2026Q2 · superinvestors as of 2026-06-30
Largest fund holders · Aardvark Therapeutics, Inc.’s weight in each
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.
Recent filings
All filings →Each filing opens into its own statements and disclosures here.
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