Microcap Ledger Aardvark Therapeutics, Inc. $AARD
Facts as of . Built from SEC filings and our own data. Small caps move fast; check the latest filings.
Snapshot
- Exchange
- Nasdaq Global Select Market
- Sector
- Pharmaceutical Preparations
- Headquarters
- San Diego, CA
- Fiscal year end
- December 31
- Shares outstanding
- 21,884,846 [10-Q 2026-08-11]
What the company doesAI summary of filing
Aardvark Therapeutics is a clinical-stage biopharmaceutical company developing small-molecule therapeutics that activate bitter taste receptors (TAS2Rs) in the gut to treat metabolic diseases. The company's lead product candidate, ARD-101, is an oral gut-restricted compound designed to stimulate the release of satiety hormones including cholecystokinin (CCK) and glucagon-like peptide-1 (GLP-1) to reduce hunger. ARD-101 has completed Phase 1 and Phase 2 clinical trials and initiated a Phase 3 trial (HERO) for hyperphagia associated with Prader-Willi Syndrome but voluntarily paused enrollment in February 2026 following cardiac observations in a healthy volunteer safety study. The company is pre-revenue and is collaborating with the FDA to determine next steps for development. [10-K 2026-03-23]
Financial health
| Period | Revenue | Net income | Operating cash flow | Cash | Filing |
|---|---|---|---|---|---|
| 6 months to Jun 2026 | $0.00 | −$35.98M | −$36.47M | $73.85M | [10-Q 2026-08-11] |
| FY ended Dec 2025 | $0.00 | −$57.59M | −$54.17M | $47.05M | [10-K 2026-03-23] |
| FY ended Dec 2024 | — | −$20.59M | −$18.09M | $61.64M | [10-K 2026-03-23] |
- Quarterly cash burn
- −$18.23M
- Cash runway Estimate
- ~12.2 months
Capital structure and dilution
| Date | Shares outstanding | Filing |
|---|---|---|
| 2025-05-01 | 21,695,920 | [10-Q 2025-05-14] |
| 2025-08-01 | 21,696,893 | [10-Q 2025-08-13] |
| 2025-11-03 | 21,773,272 | [10-Q 2025-11-13] |
| 2026-02-28 | 21,816,041 | [10-K 2026-03-23] |
| 2026-04-30 | 21,816,385 | [10-Q 2026-05-07] |
| 2026-07-31 | 21,884,846 | [10-Q 2026-08-11] |
- Shelf registration
- S-3 filed 2026-03-23; declared effective 2026-04-03 [S-3 2026-03-23]
Listing status
Current status: No Form 8-K Item 3.01 (listing notice) filings in the last 24 months, as of 2026-10-11.
Who owns it
| Date | Insider | Type | Shares | Price | Filing |
|---|---|---|---|---|---|
| 2026-09-11 | Sun Nelson | sell | 62,000 | $5.18 | [4 2026-09-11] |
| 2026-09-10 | Sun Nelson | sell | 14,754 | $5.00 | [4 2026-09-11] |
Catalysts and calendar
| Date | Type | Title |
|---|---|---|
| 2026-10-08 | 8-K | Director or officer change; Other events |
| 2026-08-17 | 8-K | Shareholder vote results |
| 2026-08-11 | 10-Q | Quarterly report |
| 2026-08-11 | 8-K | Results of operations |
| 2026-07-10 | DEF 14A | Proxy statement |
| 2026-06-29 | PRE 14A | Proxy statement |
| 2026-06-12 | 8-K | Director or officer change |
| 2026-05-14 | 8-K | Other events |
| 2026-05-07 | 10-Q | Quarterly report |
| 2026-05-07 | 8-K | Results of operations |
| 2026-04-03 | 424B5 | Prospectus or prospectus supplement |
| 2026-03-24 | 8-K | Material agreement entered |
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Facts as of . Small caps move fast; check the latest filings.