Aardvark Therapeutics Q1 net loss $9.3M; cash $151.3M; Phase 3 PWS data expected early 2026

Aardvark Therapeutics, Inc.

2025-Q1 EPS reported -$0.71

Net loss was $9.3M in Q1 2025 vs $2.2M in Q1 2024, driven by higher R&D and G&A costs.
R&D expenses rose to $7.8M (from $1.2M) due to ARD-101 development and personnel costs.
Cash, equivalents and short-term investments totaled $151.3M; IPO net proceeds were $87.5M.
Phase 3 HERO trial of ARD-101 for Prader-Willi syndrome; top-line data readout expected early 2026.

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