---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-119727"
form_type: "8-K"
ticker: "AARD"
cik: "0001774857"
company_name: "Aardvark Therapeutics, Inc."
filed_at: "2026-03-23T23:59:59+00:00"
generated_at: "2026-05-15T09:23:01.295399+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Aardvark Therapeutics reports FY2025 net loss $57.6M; pauses all clinical trials after cardiac signal

## Summary
- Net loss $57.6M for FY2025 vs $20.6M in FY2024; cash $110.0M supports operations into Q2 2027.
- Voluntary pause of Phase 3 HERO and OLE trials for ARD-101 in PWS after reversible QRS prolongation in healthy volunteers.
- ARD-201 obesity trials (POWER, STRENGTH) also voluntarily paused; further guidance expected Q2 2026.
- Clinical and preclinical data published in Molecular Metabolism showing ARD-101 reduced hunger and increased gut hormones.
- R&D spend $48.9M in FY2025 up from $17.4M; G&A $13.8M up from $5.3M.

## SEC filing metadata
- accession: 0001193125-26-119727
- form_type: 8-K
- ticker: AARD
- cik: 0001774857
- company_name: Aardvark Therapeutics, Inc.
- filed_at: 2026-03-23T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1774857/000119312526119727/0001193125-26-119727-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1774857/000119312526119727/ck0001774857-20260323.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-119727
- JSON: https://secwatch.observer/filing/0001193125-26-119727.json
- Plain text: https://secwatch.observer/filing/0001193125-26-119727.txt

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