secwatch.observer — SEC 8-K summary
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Issuer:     Aardvark Therapeutics, Inc. (AARD)
CIK:        0001774857
Form:       8-K
Filed at:   2025-11-13T23:59:59+00:00
Accession:  0001193125-25-280235
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1774857/000119312525280235/0001193125-25-280235-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1774857/000119312525280235/ck0001774857-20251113.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-280235

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