Aardvark reports Q2 net loss $14.4M; ARD-101 clinical hold, HERO/OLE terminated

Aardvark Therapeutics, Inc.

Cash $73.9M as of Jun 30, 2026 vs $91.2M at Mar 31; funds operations into late 2027.
Q2 R&D $10.5M vs $13.1M YoY; G&A $4.6M vs $2.7M; net loss $14.4M both periods.
FDA full clinical hold on ARD-101 IND in May 2026; HERO and OLE trials terminated June 2026.
Assessing unblinded HERO and OLE data in Q3 2026 to determine next steps for ARD-101.
Active FDA discussions to resolve clinical hold; workforce reduction in June 2026.

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