---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-280235"
form_type: "8-K"
ticker: "AARD"
cik: "0001774857"
company_name: "Aardvark Therapeutics, Inc."
filed_at: "2025-11-13T23:59:59+00:00"
generated_at: "2026-05-16T20:29:34.294960+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Aardvark Therapeutics Q3 net loss $16.3M; cash $126.4M; FDA expands PWS trial age to 10 years

## Summary
- Cash, equivalents, and short-term investments of $126.4M as of Sep 30, 2025; expected to fund operations into 2027.
- Net loss of $16.3M for Q3 2025 vs $4.2M for Q3 2024, driven by increased R&D and G&A expenses.
- R&D expenses $13.7M (vs $4.1M) and G&A expenses $4.0M (vs $1.0M) due to ARD-101 development and public company costs.
- FDA agreed to reduce minimum age for HERO Phase 3 trial (ARD-101 for PWS) from 13 to 10 years, broadening eligibility.
- Preclinical ARD-201 data showed preserved lean mass, glucose control vs tirzepatide, and weight management post-GLP-1.

## SEC filing metadata
- accession: 0001193125-25-280235
- form_type: 8-K
- ticker: AARD
- cik: 0001774857
- company_name: Aardvark Therapeutics, Inc.
- filed_at: 2025-11-13T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1774857/000119312525280235/0001193125-25-280235-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1774857/000119312525280235/ck0001774857-20251113.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-280235
- JSON: https://secwatch.observer/filing/0001193125-25-280235.json
- Plain text: https://secwatch.observer/filing/0001193125-25-280235.txt

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