---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-071477"
form_type: "8-K"
ticker: "AARD"
cik: "0001774857"
company_name: "Aardvark Therapeutics, Inc."
filed_at: "2025-05-14T23:59:59+00:00"
generated_at: "2026-05-21T09:30:15.977090+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-25-071477
- form_type: 8-K
- ticker: AARD
- cik: 0001774857
- company_name: Aardvark Therapeutics, Inc.
- filed_at: 2025-05-14T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1774857/000095017025071477/0000950170-25-071477-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1774857/000095017025071477/ck0001774857-20250514.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-071477
- JSON: https://secwatch.observer/filing/0000950170-25-071477.json
- Plain text: https://secwatch.observer/filing/0000950170-25-071477.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.