Aardvark Therapeutics Q2 net loss $14.4M; advances ARD-201 obesity trials and expands PWS trial to younger patients

Aardvark Therapeutics, Inc.

2025-Q2 EPS reported -$1.36

Net loss of $14.4M in Q2 2025 vs $5.4M in Q2 2024; R&D expenses rose to $13.1M.
Cash, cash equivalents, and short-term investments of $141.8M as of June 30, 2025; funds operations into 2027.
Preclinical data shows ARD-201 prevents weight regain after GLP-1RA discontinuation; Phase 2 POWER trial in H2 2025, STRENGTH in H1 2026.
Phase 3 HERO trial for ARD-101 in PWS to expand to patients under 13; topline data expected Q3 2026.
Appointed new CSO, CCO, SVP Regulatory, and General Counsel in May 2025.

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