secwatch.observer — SEC 8-K summary
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Issuer:     Aardvark Therapeutics, Inc. (AARD)
CIK:        0001774857
Form:       8-K
Filed at:   2025-03-31T23:59:59+00:00
Accession:  0000950170-25-047769
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Aardvark Therapeutics reports FY 2024 net loss $20.6M; advances ARD-101 Phase 3 PWS trial
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- Net loss $20.6M in 2024 vs $7.2M in 2023; R&D expenses $17.4M (up $12.9M YoY).
- Cash, equivalents, and ST investments $73.7M at Dec 31, 2024; plus $97.9M IPO gross proceeds in Feb 2025.
- ARD-101 Phase 2 PWS data: up to 16-point HQ-CT reduction in hyperphagia; body fat decreased ~1.5%, lean muscle increased >2%.
- Phase 3 HERO trial topline data for PWS expected early 2026; Phase 2 HONOR (hypothalamic obesity) and EMPOWER (obesity/ARD-201 combo) expected H2 2025.
- Appointed Manasi Sinha Jaiman as CMO; added Roy D. Baynes and Susan E. Graf to Board.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1774857/000095017025047769/0000950170-25-047769-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1774857/000095017025047769/ck0001774857-20250331.htm
  HTML page:      https://secwatch.observer/filing/0000950170-25-047769

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer