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AARDAardvark Therapeutics, Inc. Common Stock
$5.18$113M
Overview & Verdict
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AARD logoAardvark Therapeutics, Inc. Common Stock(AARD)Earnings, Financials & Key Ratios

AARD•NASDAQ
$5.18
Price updated Jun 30, 2026
SectorHealthcareIndustryBiotechnologySub-IndustryMetabolic and Obesity Therapies
AboutAardvark Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on developing small-molecule therapeutics to activate innate homeostatic pathways for the treatment of metabolic diseases. Its lead product candidate is the ARD-101, an oral gut-restricted small-molecule agonist of certain targeting bitter taste receptors expressed in the gut lumen that is in Phase III clinical trial for hyperphagia associated with Prader-Willi Syndrome, as well as in Phase II clinical trial for hyperphagia associated with acquired hypothalamic obesity resultant from treatment of craniopharyngioma, including surgery or radiation. It also developing ARD-201, which is in Phase I clinical trial for the treatment of obesity. The company was incorporated in 2017 and is based in San Diego, California.Show more
  • Revenue$0
  • EBITDA-$63M-175.3%
  • Net Income-$58M-179.7%
  • EPS (Diluted)-2.64-177.9%
  • ROE-221.55%

AARD Price & Volume

Aardvark Therapeutics, Inc. Common Stock (AARD) stock price & volume — 10-year historical chart

Loading chart...

Accelerating Clinical Spend Pressures Capital Runway

Investment Thesis • Updated 2026Q1

VerdictNegative
Growth:Mixed
Profitability:Negative
Financial:Vulnerable
Cash Flow:Burning
Primary Risk:Clinical trial funding shortfall

Key Thesis Takeaways

  • Aardvark Therapeutics is currently in a high-stakes transition toward Phase III clinical execution, characterized by a rapid escalation in R&D spending that has reached $16.6 million per quarter as of 2026Q1.
  • While the company's focus on its lead metabolic candidate drives its long-term value proposition, the lack of revenue generation and a widening operating loss of $22.5 million create significant binary risk for investors.
  • The firm's reliance on external capital to sustain its $137.5 million accumulated deficit necessitates careful monitoring of its remaining $62.4 million cash position.

Verdict Logic

the company's current cash burn rate of $18.9 million per quarter against a $62.4 million cash reserve suggests a limited runway that may necessitate dilutive financing to support ongoing Phase III trials.

AARD Growth Metrics

Aardvark Therapeutics, Inc. Common Stock (AARD) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years-
3 Years-
TTM-

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-152.05%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM-150.78%

Return on Capital

10 Years-63.66%
5 Years-63.66%
3 Years-61.44%
Last Year-70%

AARD Recent Earnings

Aardvark Therapeutics, Inc. Common Stock (AARD) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 2/11 qtrs (33%)
Q2 2026Latest
May 7, 2026
Metric
Actual
Est
EPS
$0.99-14.0%
$0.87
Rev
—
—
Q2 2026
Mar 23, 2026
Metric
Actual
Est
EPS
$0.81+2.1%
$0.83
Rev
—
—
Q4 2025
Nov 13, 2025
Metric
Actual
Est
EPS
$0.75+6.1%
$0.80
Rev
—
—
Q3 2025
Aug 13, 2025
Metric
Actual
Est
EPS
$0.66-10.0%
$0.60
Rev
—
—
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 7, 2026
$0.99vs $0.87-14.0%
—
Q2 2026Mar 23, 2026
$0.81vs $0.83+2.1%
—
Q4 2025Nov 13, 2025
$0.75vs $0.80+6.1%
—
Q3 2025Aug 13, 2025
$0.66vs $0.60-10.0%
—
Based on last 11 quarters of dataView full earnings history →

Latest AARD News

Recent stock market news and headlines for Aardvark Therapeutics, Inc. Common Stock (AARD)

PRNewsWire·4 days ago
Aardvark Therapeutics (AARD) Faces Investor Scrutiny Amid 56% Drop On Clinical Pause For Lead Drug Candidate- HBSS

SAN FRANCISCO, June 25, 2026 /PRNewswire/ -- On March 2, 2026, investors in Aardvark Therapeutics (NASDAQ: AARD) saw the price of their shares crater $7.02 (-56%) after the company announced that it stopped its Phase 3 Hunger Elimination of Reduction Objective ("HERO") trial evaluating the efficacy and safety of ARD-101 as a treatment for hyperphagia (insatiable hunger) in patients with Prader-Willi Syndrome ("PWS"). The development and severe market reaction have prompted national shareholder rights firm Hagens Berman to open an investigation into whether Aardvark may have misled investors in violation of federal securities laws.

GuruFocus·Jun 19, 2026
Aardvark Therapeutics (AARD) Faces Investor Scrutiny Amid 56% Drop On Clinical Pause For Lead Drug Candidate- HBSS

Aardvark Therapeutics (AARD) Faces Investor Scrutiny Amid 56% Drop On Clinical Pause For Lead Drug Candidate- HBSS PR Newswire

PRNewsWire·Jun 19, 2026
Aardvark Therapeutics (AARD) Faces Investor Scrutiny Amid 56% Drop On Clinical Pause For Lead Drug Candidate- HBSS

SAN FRANCISCO, June 19, 2026 /PRNewswire/ -- On March 2, 2026, investors in Aardvark Therapeutics (NASDAQ: AARD) saw the price of their shares crater $7.02 (-56%) after the company announced that it stopped its Phase 3 Hunger Elimination of Reduction Objective ("HERO") trial evaluating the efficacy and safety of ARD-101 as a treatment for hyperphagia (insatiable hunger) in patients with Prader-Willi Syndrome ("PWS"). The development and severe market reaction have prompted national shareholder rights firm Hagens Berman to open an investigation into whether Aardvark may have misled investors in violation of federal securities laws.

Peers Comparison

Key metrics vs top competitors for Aardvark Therapeutics, Inc. Common Stock (AARD)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
AARD logoAARDAardvark Therapeutics, Inc. Common StockCurrent
$5.18$113.01M-1.96——-221.55%—
RYTM logoRYTMRhythm Pharmaceuticals, Inc.
$110.04$7.54B-35.3845.83%-93.84%-204.35%—
VNDA logoVNDAVanda Pharmaceuticals Inc.
$6.14$362.92M-1.648.72%-109.99%-61.41%—
IMVT logoIMVTImmunovant, Inc.
$38.51$7.91B-13.90——-68.16%—
CGEM logoCGEMCullinan Therapeutics, Inc.
$18.42$1.13B-4.95——-51.45%—
NUVL logoNUVLNuvalent, Inc.
$123.51$9.09B-21.11——-42.78%—

Compare AARD vs Peers

Aardvark Therapeutics, Inc. Common Stock (AARD) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs RYTM

Most directly comparable listed peer for AARD.

Scale Benchmark

vs LLY

Larger-name benchmark to compare AARD against a more recognizable public peer.

Peer Set

Compare Top 5

vs RYTM, VNDA, IMVT, CGEM

AARD SEC Filings & Documents

Aardvark Therapeutics, Inc. Common Stock (AARD) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 14, 2026·SEC

Material company update

May 7, 2026·SEC

Material company update

Mar 24, 2026·SEC

10-K Annual Reports

2
FY 2026

Mar 23, 2026·SEC

FY 2025

Mar 31, 2025·SEC

10-Q Quarterly Reports

4
FY 2026

May 7, 2026·SEC

FY 2025

Nov 13, 2025·SEC

FY 2025

Aug 13, 2025·SEC

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AARD Frequently Asked Questions

Aardvark Therapeutics, Inc. Common Stock (AARD) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
Is AARD profitable?

Aardvark Therapeutics, Inc. Common Stock (AARD) reported a net loss of $69.9M for fiscal year 2025.

Dividend & Returns
What is AARD's return on equity?

Aardvark Therapeutics, Inc. Common Stock (AARD) has a return on equity (ROE) of -221.5%. Negative ROE indicates the company is unprofitable.

What is Aardvark Therapeutics, Inc. Common Stock's free cash flow?

Aardvark Therapeutics, Inc. Common Stock (AARD) had negative free cash flow of $61.7M in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in AARD back in 2022?

Total return calculator · dividends reinvested · 4+ years of data

See returns →