Aardvark Q1 net loss $21.6M; ARD-101/ARD-201 programs on voluntary pause

Aardvark Therapeutics, Inc.

Net loss of $21.6M for Q1 2026 vs. $9.3M for Q1 2025, driven by higher R&D expenses.
Cash, cash equivalents and ST investments at $91.2M (down from $110.0M Dec 31, 2025); runway into mid-2027.
R&D expenses $16.6M (up $8.8M YoY) due to ARD-101 development and personnel costs.
Voluntary pause on Phase 3 HERO trial and ARD-201 after reversible cardiac signals in a healthy volunteer study.
Company working with FDA and expects to provide program guidance in Q2 2026.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Aardvark Therapeutics, Inc. reported first quarter ended March 31, 2026 results: revenue $91.2 million, net income net loss of $21.6 million.

Period: first quarter ended March 31, 2026
Revenue: $91.2 million
Net income: net loss of $21.6 million
Result: reported results

Exact text from the filing

Therapeutics Reports First Quarter 2026 Financial Results and Provides Business Updates ARD-101 and ARD-201 programs on voluntary pause; further guidance expected in Q2 2026 $91.2 million in cash, cash equivalents and short-term investments as of March 31, 2026, supports projected operations into mid-2027 SAN DIEGO, May 7, 2026 (GLOBE NEWSWIRE) -- Aardvark

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Source: SEC EDGAR

accession 0001193125-26-210664

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